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Committee approves move to transfer $12 million from legislative cash fund and set an $8 million cap
Summary
Sponsors said House Bill 13 32 will transfer a minimum of $12,000,000 from the legislative department cash fund to the general fund and cap the cash fund at $8,000,000; the committee moved the bill to the Committee of the Whole 10–0 with Representative Soper excused.
Sponsors told the committee that House Bill 13 32 revises the legislative department cash fund, which was established in 2012 to support capital, information-technology and emergency needs for the legislative branch. They said that, given a current surplus, the bill would transfer a minimum of $12,000,000 to the general fund to help address the state’s budget shortfall and set a new cap of $8,000,000 for the cash fund going forward.
“We will transfer $12,000,000 from this fund to the general fund to help address our budget shortfall,” Madam Speaker said, adding that the bill specifies allowable uses for the cash fund—capital projects, renovations, IT and emergency repairs—and that the fund receives certain revenues such as fees from Colorado Open Records Act requests and investment income.
The Majority Leader said the mechanism is expected to return an additional "$1 to 4,000,000 annually" to the state under historical patterns. There was no public testimony. Madam Vice Chair moved the bill to the Committee of the Whole with a favorable recommendation; the committee approved the motion on a roll-call vote of 10–0 with Representative Soper excused.
Sponsors emphasized that the transfer and cap aim to contribute to statewide budget reductions while preserving funds for necessary legislative facility and IT needs.
