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Bill Detail: HB20-1380

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Title Move Tobacco Litigation Settlement Moneys General Fund
Status Governor Signed (06/29/2020)
Bill Subjects
  • Liquor, Tobacco, & Marijuana
  • State Revenue & Budget
House Sponsors K. Ransom (R)
J. McCluskie (D)
Senate Sponsors D. Moreno (D)
R. Zenzinger (D)
House Committee Appropriations
Senate Committee Appropriations
Date Introduced 05/26/2020
Description

Joint Budget Committee. The bill redirects a portion of tobacco
litigation settlement moneys (settlement moneys) to the general fund for
state fiscal year (FY) 2020-21 by:
  • Transferring $20 million of settlement moneys received
during FY 2019-20 to the general fund and offsetting the
$20 million reduction in the amount of such settlement

moneys available for allocation in FY 2020-21 to the
programs that receive settlement moneys by allocating to
the programs in FY 2020-21 $20 million of settlement
moneys to be received by the state in FY 2020-21 that
would otherwise be allocated in FY 2021-22;
  • Removing $2,000,130 of settlement moneys received in
excess of projections during FY 2019-20 from the base
amount used to calculate the statutory allocations of
settlement moneys to various programs;
  • Reducing the statutory allocations of settlement moneys:
  • For the tobacco settlement defense account of the
tobacco litigation settlement cash fund (litigation
account) from 2.5% to 0.75% of the settlement
moneys; and
  • For the state dental loan repayment program by
$160,717;
  • Requiring all settlement moneys received during FY
2019-20 that are not allocated for state fiscal year 2020-21
under the modified statutory allocation formula to be
transferred to the general fund on July 1, 2020;
  • Requiring additional July 1, 2020, transfers to the general
fund of settlement moneys previously credited to cash
funds that receive statutory allocations of settlement
moneys as follows:
  • $8 million from the tobacco settlement defense
account;
  • $4,237,375 from the nurse home visitor program
fund; and
  • $3 million from the Colorado state veterans trust
fund.

Committee Reports
with Amendments
Full Text
Full Text of Bill (pdf) (most recent)
Fiscal Notes Fiscal Notes (05/26/2020) (most recent)  
Additional Bill Documents Bill Documents
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  • Past fiscal notes
  • Committee activity and documents
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Votes House and Senate Votes
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