Bill > HB1059

This bill consolidates multiple existing cost recovery cash funds, which are accounts used by the Department of Revenue (department) to cover its administrative costs for collecting various fees and charges, into a single new fund called the "Cost Recovery Cash Fund." Currently, the department is allowed to keep a portion of collected fees, such as those for clean transit, wildlife and land remediation, enterprise per ride fees, and retail delivery fees, to offset its expenses, with some funds like the prepaid wireless trust cash fund allowing up to 3% for this purpose. This bill eliminates the individual funds like the oil and gas production fees collection fund, the enterprise per ride fees fund, and the retail delivery fees fund, and directs the state treasurer to deposit all retained administrative cost money into the newly created, unified Cost Recovery Cash Fund. This consolidated fund will then be continuously available to the department to pay for the collection, administration, and enforcement of these specific fees and charges, and it will also be exempt from certain limitations on uncommitted reserves.

Budget and Finance

https://leg.colorado.gov/bills/HB26-1059