(1) (a) The multimodal transportation and mitigation options fund is hereby created in the state treasury. The fund consists of money transferred from the general fund to the fund pursuant to section 24-75-219, retail delivery fee revenue credited to the fund pursuant to section 43-4-218 (5)(a)(II), and any other money that the general assembly may appropriate or transfer to the fund. The state treasurer shall credit all interest and income derived from the deposit and investment of money in the fund to the fund. (b) Repealed. (2) (a) (I) Except as otherwise provided in subsection (2)(d) of this section, subject to annual appropriation by the general assembly, money must be expended from the fund as follows: (A) Eighty-five percent to the commission for local multimodal projects; and (B) Fifteen percent to the commission for state multimodal projects that are selected by the commission. (II) and (III) (Deleted by amendment, L. 2021.) (IV) Repealed. (b) Repealed. (c) With respect to the distributions of money for local multimodal projects required by subsection (2)(a)(I)(A) of this section, the commission shall establish a formula for disbursement of the amount allocated for local multimodal projects, based on population and transit ridership and other criteria developed in consultation with the transportation advisory committee created in section 43-1-1104, the transit and rail advisory committee of the department, the state transportation advisory committee of the department, transit advocacy organizations, and bicycle and pedestrian advocacy organizations. Recipients shall provide a match equal to the amount of the award; except that the commission may create a formula for reducing or exempting the match requirement for local governments or agencies due to their size or any other special circumstances and may also, if recommended by department staff, reduce or exempt any individual recipient from the match requirement for a specific project. (d) (I) On and after October 1, 2022, unless the department has both adopted implementing guidelines and procedures that satisfy the requirements of section 43-1-128 (3) and updated its ten-year vision plan to comply with the implementing guidelines and procedures, expenditures from the funds made available for multimodal projects pursuant to sections 24-75- 219 (7)(c)(I) and (7)(f)(II) and 43-4-218 (5)(a)(II) for state multimodal projects shall only be made for multimodal projects that the department, in consultation with the department of public health and environment, determines will help bring the ten-year vision plan into compliance with the requirements of section 43-1-128 (3). (II) On and after October 1, 2022, unless the department has adopted implementing guidelines and procedures that satisfy the requirements of section 43-1-128 (3) and a metropolitan planning organization that is in an area or includes an area that has been out of attainment for national ambient air quality standards for ozone for two years or more has updated its regional transportation plan to comply with the implementing guidelines and procedures, expenditures from the funds made available for multimodal projects pursuant to sections 24-75- 219 (7)(c)(I) and (7)(f)(II) and 43-4-218 (5)(a)(II) for local multimodal projects within the territory of the metropolitan planning organization shall only be made for multimodal projects that the department, in consultation with the department of public health and environment, determines will help bring the regional transportation plan into compliance with the requirements of section 43-1-128 (3). (III) The restrictions set forth in subsections (2)(d)(I) and (2)(d)(II) of this section apply until the department or an affected metropolitan planning organization updates its ten-year vision plan or regional transportation plan, as applicable, to comply with the implementing guidelines and procedures as required. Both the department and an affected metropolitan planning organization shall work diligently to achieve such compliance until it is achieved. (e) On July 1, 2024, the state treasurer shall transfer ten million dollars to the zero fare transit fund created in section 24-38.5-114 from the portion of the fund that is allocated to the commission pursuant to subsection (2)(a)(I)(A) of this section. (3) (a) The department shall annually report to the transportation legislation review committee of the general assembly created in section 43-2-145 (1) regarding its expenditures from the fund including, at a minimum: (I) An aggregate accounting of all money expended from the fund during the prior fiscal year; and (II) A listing of all projects receiving funding from the fund during the prior fiscal year that includes for each project: (A) Identification of the entity receiving funding for the project; (B) The amount of funding provided for the project; and (C) The amount of local matching money provided for the project. (a.5) Each transportation planning region shall annually report to the department regarding the status of local multimodal projects within the region that have received funding from the fund. (b) Notwithstanding section 24-1-136 (11)(a), the reporting requirement specified in subsection (3)(a) of this section continues indefinitely.
‹ Prev All Colorado sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.