Limited Gaming Revenue For Online Supplemental Education

After paying for administrative expenses, half of the money in the limited gaming fund is constitutionally allocated and the other half is required to be transferred to the general fund or any other cash fund designated by the general assembly. Of the latter half, the general assembly has designated transfers to the Colorado travel and tourism promotion fund, the advanced industries acceleration cash fund, the local government limited gaming impact fund, the innovative higher education research fund, the creative industries cash fund, and the Colorado office of film, television, and media operational account cash fund, with the remainder transferred to the general fund.

The bill reduces all of the transfers of limited gaming revenue to these cash funds by 10%, which totals $3,010,000, and requires the state treasurer to transfer an equal amount of the revenue to the state public school fund to be used to reduce the cost to school districts, charter schools, and boards of cooperative services of purchasing supplemental online education courses.

(Note: This summary applies to this bill as introduced.)