Transfer From Severance Tax Operations Cash Fund

On July 1, 2023, the state treasurer is required to transfer $10 million from the severance tax operational fund to the capital construction fund. The money is to be used by state-supported institutions of higher education in energy impacted counties for energy-related programs or projects.

For fiscal year 2023-24, the act appropriates $6 million from the capital construction fund and $3,108,609 in cash funds from Colorado Mesa university institutional reserves and donations to expand the university's campus-wide geothermal exchange system. For fiscal year 2023-24, the act appropriates $4 million to Western Colorado university to provide additional teaching and laboratory space for the university's petroleum geology program and to generally allow for the expansion of the natural and environmental sciences department.

APPROVED by Governor April 28, 2023

EFFECTIVE April 28, 2023
(Note: This summary applies to this bill as enacted.)