CHAPTER 325

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GENERAL ASSEMBLY

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SENATE BILL 06-048 [Digest]

BY SENATOR(S) Tapia, Bacon, Evans, and Teck;

also REPRESENTATIVE(S) Massey, Borodkin, Buescher, Carroll M., Jahn, Kerr J., Knoedler, McFadyen, Paccione, Riesberg, and Sullivan.

AN ACT

Concerning the pilot program for the director of research of the legislative council to use a dynamic model to analyze the economic impact of bills that make a tax policychange, and making an appropriation therefor.

Be it enacted by the General Assembly of the State of Colorado:

  SECTION 1.  2-3-304.5 (1), (4), (5) (a), and (5) (c), Colorado Revised Statutes, are amended to read:

  2-3-304.5.  Tax policy changes - dynamic model - pilot program - advisory committee - repeal. (1)  The director of research shall establish a pilot program for the purpose of developing or procuring a dynamic model to analyze the economic impact of bills introduced by the general assembly that can be used during the 2008 regular session as soon as possible.

  (4) (a)  Prior to the 2008 first regular session that the dynamic model can be used, the director of research shall notify the executive committee of the legislative council whether that the dynamic model is ready to be used to analyze bills during the 2008 upcoming regular session. If the model is ready, the executive committee shall select no more than ten bills to be analyzed using the dynamic model. Only bills that make a tax policy change are eligible to be analyzed. The analysis of the economic impact using a dynamic model shall be in addition to any fiscal note that is prepared pursuant to the rules of the general assembly.

  (b)  After the 2008 first regular session in which the dynamic model is used, the director of research shall prepare a report evaluating how the dynamic model worked during the 2008 regular session and making recommendations for the use of the dynamic model in future sessions of the general assembly, including the feasibility of expanding the scope of the type of bills for which the dynamic model may be used. The report shall be prepared no later than January 1, 2009 January 1 of the year following the session in which the dynamic model was used.

  (5) (a)  It is the intent of the general assembly that for the fiscal year commencing on July 1, 2005 July 1, 2006, no general fund moneys be appropriated for the purpose of implementing this section. For a fiscal year commencing on or after July 1, 2006, moneys from the capital construction fund created in section 24-75-302, C.R.S., may be appropriated to implement this section.

  (c)  Except as otherwise provided in subsection (3) of this section, the director of research shall not undertake the pilot program unless the balance in the fund is one hundred twenty thousand dollars. as of September 1, 2005. If the balance of the fund is at least one hundred twenty thousand dollars, as of September 1, 2005, then the director of research shall contract with an independent contractor to help implement the provisions of this section. If the balance of the fund is less than one hundred twenty thousand dollars as of September 1, 2005, then any gifts, grants, or donations that were received prior to that date shall be returned to the respective donors.

  SECTION 2.  Appropriation. In addition to any other appropriation, there is hereby appropriated, out of any moneys in the dynamic modeling cash fund created in section 2-3-304.5 (5) (b), Colorado Revised Statutes, not otherwise appropriated, to the legislative department, for allocation to the legislative council staff, for the fiscal year beginning July 1, 2006, the sum of one hundred twenty thousand dollars ($120,000), or so much thereof as may be necessary, for the implementation of this act. Said sum shall be cash funds exempt received from gifts, grants, and donations.

  SECTION 3.  Effective date. This act shall take effect at 12:01 a.m. on the day following the expiration of the ninety-day period after final adjournment of the general assembly that is allowed for submitting a referendum petition pursuant to article V, section 1 (3) of the state constitution (August 9, 2006, if adjournment sine die is on May 10, 2006); except that, if a referendum petition is filed against this act or an item, section, or part of this act within such period, then the act, item, section, or part, if approved by the people, shall take effect on the date of the official declaration of the vote thereon by proclamation of the governor.

Approved: June 2, 2006

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Capital letters indicate new material added to existing statutes; dashes through words indicate deletions from existing statutes and such material not part of act.

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