Cash Fund Transfers General Fund
For the purpose of augmenting the revenue in the state general fund, the act requires the state treasurer to make specific transfers to the general fund. On June 30, 2020, the state treasurer is required to transfer the following amounts to the general fund:
- $3,176 from the employment verification fund, as it existed prior to its repeal in 2016;
- The unexpended and unencumbered balance from the fund state employee reserve fund;
- $7.9 million from the Fort Logan land sale account in the capital construction fund;
- $8,381,753 from the indirect costs excess recovery fund;
- $1,887,116 from the state supplemental security income stabilization fund;
- $1 million from the veterans assistance grant program cash fund;
- $167,463 from the Moffat tunnel cash fund; and
- $10 million from the multimodal transportation options fund.
On July 1, 2020, the state treasurer is required to transfer:
- $45.5 million from the severance tax perpetual base fund to the general fund; and
- $43 million from the unclaimed property trust fund.
(Note: This summary applies to this bill as enacted.)