CO Code § 22-54-114 (2021)
2021 Colorado Code|Title 22 - Education|Article 54 - Public School Finance Act of 1994|§ 22-54-114. State Public School Fund

  There is hereby created in the office of the state treasurer a fund, separate from the general fund, to be known as the state public school fund. There shall be credited to said fund the net balance of the public school income fund existing as of December 31, 1973, and all distributions from the state public school income fund thereafter made, the state's share of all moneys received from the federal government pursuant to the provisions of section 34-63-102, C.R.S., and such additional moneys as shall be appropriated by the general assembly which are necessary to meet the state's share of the total program of all districts, funding for institute charter schools, and, for fiscal years prior to the 2007-08 fiscal year, the contingency reserve during the budget year. Moneys annually appropriated by the general assembly shall be transferred from the state general fund and credited to the state public school fund in four quarterly installments on July 1, September 30, December 31, and March 31 to assure the availability of funds for the required distribution of state moneys to school districts and institute charter schools. Such quarterly installments shall be determined in accordance with estimates prepared by the department of education with respect to the required distribution of state moneys to school districts and institute charter schools. (1.5) Repealed.    No later than thirty days prior to the beginning of the budget year, the department of education shall determine the estimated requirements in order to provide each district and each institute charter school the amount it is eligible to receive from the state during the next ensuing fiscal year of the state. The appropriation by the general assembly shall be based on the requirements necessary to provide all districts and institute charter schools with the amounts they are each eligible to receive from the state, pursuant to the provisions of this part 1, during the next ensuing fiscal year of the state. (2.3) Notwithstanding any provision of this article to the contrary, of the total amount appropriated by the general assembly in the annual appropriation bill for each budget year to meet the state's share of the total program of all districts and the total funding for all institute charter schools, the department of education may transfer an amount specified by the general assembly in the annual general appropriation bill for that budget year to offset the direct and indirect administrative costs incurred by the department in implementing the provisions of this article. The total program of each district that receives state aid and the total funding for each institute charter school shall be reduced by a percentage determined by dividing the amount of the transfer by the total program of all districts that receive state aid plus the total funding for all institute charter schools. The state aid of each district shall be reduced by the amount of the reduction in the district's total program or the amount of state aid, whichever is less. The department of education shall ensure that the reduction in state aid and institute charter school funding required by this subsection (2.3) is accomplished prior to the end of the budget year. The reductions described in this subsection (2.3) shall be in addition to any reduction that may be required pursuant to section 22-54-106 (4)(c) .  (2.5) Repealed.  (2.7) The general assembly intends that the moneys transferred to the state public school fund pursuant to section 24-75-201.1 (1)(d) (XI.5), C.R.S., pursuant to Senate Bill 11-230, enacted in 2011, be available for appropriation during the 2011-12 budget year to account for mid-year changes in pupil enrollment and the at-risk pupil population and changes in assessed valuations and the specific ownership tax from the prior year.      Any unexpended balance of moneys appropriated by the general assembly in the state public school fund at the end of each fiscal year shall remain in the state public school fund and become available for distribution during the following fiscal year.    (Deleted by amendment,L. 2007, p. 625, § 2, effective April 26, 2007.)         For the 1997-98 fiscal year and fiscal years thereafter, the net amount recovered by the department of education during the applicable fiscal year, pursuant to school district and institute charter school audits, as overpayments made to school districts and institute charter schools, and any amount remitted by a school district or institute charter school pursuant to section 22-35-108 (3)(c), that would otherwise be transmitted to the state treasurer for deposit in the general fund shall instead be transmitted to the state treasurer for deposit in the state public school fund. The amount shall be available for appropriation to the department of education in subsequent fiscal years.    For the 2010-11 fiscal year and fiscal years thereafter, the department of education shall reimburse school districts for educational services provided to juveniles pursuant to section 22-32-141 from moneys appropriated for said purpose.    For the 2012-13 budget year the general assembly shall appropriate the amount calculated for at-risk supplemental aid pursuant to sections 22-30.5-112.2 and 22-30.5-513, up to three million eight hundred thirty-nine thousand six hundred twenty-seven dollars, from any amounts recovered and received by the department of education during the applicable budget year.    For the 2017-18, 2018-19, and 2019-20 budget years, the general assembly may appropriate money from the state public school fund to the legislative department for the costs incurred by the legislative interim committee on school finance as provided in part 19 of article 2 of title 2.       All publishing costs associated with the annual printing of the laws enacted by the general assembly concerning education shall be paid out of the state public school fund.    Repealed.    For the 2017-18 budget year, the state treasurer, before June 30, 2018, shall transfer from the general fund to the state public school fund thirty million seven hundred twenty-three thousand seven hundred ninety-one dollars.    The general assembly shall appropriate from the state public school fund for purposes of school safety seven million thirty-three thousand eight hundred eighty-three dollars, which amount results from the reduction in district total program funding for the 2017-18 budget year as described in House Bill 18-1171.     History. Source: L. 94: Entire article added with relocations, p. 800, § 2, effective April 27. L. 98: (3) amended and (4) added, p. 973, § 17, effective May 27. L. 2001: (3) amended, p. 362, § 30, effective April 16. L. 2003: (2.5) added, p. 2140, § 45, effective May 22. L. 2004: (2.3) added, p. 1397, § 16, effective May 28; (2.5) amended, p. 1662, § 13, effective June 3; (1), (2), (2.5), and (4) amended, p. 1639, § 46, effective July 1. L. 2006: (2.3) repealed, p. 661, § 3, effective April 28. L. 2007: (2.5) repealed, p. 14, § 4, effective February 6; (1) and (3)(b) amended and (5) added, p. 625, § 2, effective April 26; (6) added, p. 1058, § 3, effective July 1. L. 2009: (2.3) RC&RE,(SB 09-215), ch. 134, p. 578, § 2, effective April 17. L. 2010: (2.3) amended,(HB 10-1318), ch. 34, p. 127, § 2, effective March 22; (4) amended,(SB 10-054), ch. 265, p. 1212, § 3, effective May 25; (3)(a) amended,(SB 10-151), ch. 109, p. 365, § 3, effective July 1. L. 2011: (2.7) added,(SB 11-230), ch. 305, p. 1467, § 6, effective June 9. L. 2012: (4)(c) added,(HB 12-1345), ch.188, p. 723, § 10, effective May 19. L. 2013: (4)(c) amended,(SB 13-260), ch. 236, p. 1140, § 4, effective May 17. L. 2015: (1.5) added,(SB 15-244), ch. 132, p. 409, § 3, effective May 1; (4)(a) amended,(SB 15-138), ch. 188, p. 625, § 2, effective May 13; (2.3) amended,(SB 15-267), ch. 295, p. 1202, § 3, effective June 5. L. 2017: (4)(d) added,(HB 17-1340), ch. 294, p. 1623, § 2, effective June 2. L. 2018: (7) and (8) added,(HB 18-1171), ch. 81, p. 672, § 3, effective March 29. L. 2019: (4)(d) amended,(SB 19-094), ch. 164, p. 1903, § 4, effective May 13.    Editor's note:    This section is similar to former § 22-53-121 as it existed prior to 1994.    Amendments to subsection (2.5) by House Bill 04-1362 and House Bill 04-1433 were harmonized.    Subsection (6)(b) provided for the repeal of subsection (6), effective July 1, 2008. (SeeL. 2007, p. 1058.)    Subsection (1.5)(b) provided for the repeal of subsection (1.5), effective July 1, 2019. (SeeL. 2015, p. 409.)     Cross references:   For the legislative declaration contained in the 2007 act repealing subsection (2.5), see section 1 of chapter 2, Session Laws of Colorado 2007. For the legislative declaration contained in the 2007 act enacting subsection (6), see section 1 of chapter 268, Session Laws of Colorado 2007. For the legislative declaration in SB 15-244, see section 1 of chapter 132, Session Laws of Colorado 2015. For the legislative declaration in HB 18-1171, see section 1 of chapter 81, Session Laws of Colorado 2018.