(1) With the exception of the Colorado avalanche information center created pursuant to section 24-33-116, C.R.S., on January 31, 2013, the Colorado geological survey and the office of the state geologist and their powers, duties, and functions are transferred from the department of natural resources to the Colorado school of mines. The Colorado school of mines shall exercise its powers and perform its functions and duties as if the geological survey and the office of the state geologist were transferred to the Colorado school of mines by a type 2 transfer.

(2) Prior to the transfer, the president of the Colorado school of mines and the executive director of the department of natural resources shall develop and enter into a memorandum of understanding concerning the transfer of the powers, duties, and functions of the geological survey and the office of the state geologist. The memorandum of understanding shall include, but is not limited to, provisions concerning the following:

(a) The functions and objectives of the geological survey;

(b) The transfer of employees of the geological survey and the office of the state geologist, in conformance with the laws applicable to the employees;

(c) The transfer of real and personal property of the geological survey;

(d) Existing contracts of the department of natural resources; and

(e) Existing appropriations allocated to the Colorado geological survey and the office of the state geologist and the geological survey cash fund.

(3) On and after January 31, 2013, whenever the executive director of the department of natural resources or the department of natural resources is referred to or designated by any contract or other document in connection with the powers, duties, and functions transferred to the Colorado school of mines, the reference or designation shall be deemed to apply to the Colorado school of mines. All contracts entered into by the executive director of the department of natural resources prior to January 31, 2013, in connection with the powers, duties, and functions transferred to the Colorado school of mines are hereby validated, with the president of the Colorado school of mines succeeding to all the rights and obligations of such contracts.

(4) On January 31, 2013, the unexpended and unencumbered appropriations of funds for the current fiscal year made to the department of natural resources and allocated for the Colorado geological survey and office of the state geologist and that are related to the powers, duties, and functions transferred to the Colorado school of mines shall be transferred to the Colorado school of mines.

(5) Repealed.

(6) (a) On or before December 1, 2012, and in accordance with the provisions of section 24-1-136 (9), C.R.S., the Colorado school of mines shall report to the joint budget committee, the agriculture, livestock, and natural resources committee of the house of representatives, or its successor committee, and the agriculture, natural resources, and energy committee of the senate, or its successor committee, concerning the transfer of the geological survey and the office of the state geologist to the Colorado school of mines.

(b) At a minimum, the report shall include information concerning:

(I) Whether the president of the Colorado school of mines and the executive director of the department of natural resources entered into a memorandum of understanding affirming the transfer of the Colorado geological survey and the office of the state geologist to the Colorado school of mines; and

(II) The contents of the memorandum of understanding, including a description of the contents of the memorandum of understanding relating to the provisions required pursuant to paragraphs (a) to (e) of subsection (2) of this section.