(1) As used in this section, unless the context otherwise requires:

(a) "Capital construction fund" means the capital construction fund created in section 24-75-302.

(b) Repealed.

(c) "Funds" means the highway users tax fund and the capital construction fund.

(d) "Highway users tax fund" means the highway users tax fund created in section 43-4-201, C.R.S.

(e) and (f) Repealed.

(g) "Multimodal transportation options fund" means the multimodal transportation options fund created in section 43-4-1103 (1).

(h) "State highway fund" means the state highway fund created in section 43-1-219.

(2) (a) On June 30, 2016, the state treasurer shall transfer:

(I) One hundred ninety-nine million two hundred thousand dollars from the general fund to the highway users tax fund; and

(II) Forty-nine million eight hundred thousand dollars from the general fund to the capital construction fund.

(b) On June 30, 2017, the state treasurer shall transfer:

(I) Seventy-nine million dollars from the general fund to the highway users tax fund; and

(II) Fifty-two million seven hundred thousand dollars from the general fund to the capital construction fund.

(c) On June 30, 2018, the state treasurer shall transfer seventy-nine million dollars from the general fund to the highway users tax fund.

(c.3) On June 30, 2019, the state treasurer shall transfer:

(I) Repealed.

(II) Sixty million dollars from the general fund to the capital construction fund.

(c.7) On June 30, 2020, the state treasurer shall transfer:

(I) Repealed.

(II) Sixty million dollars from the general fund to the capital construction fund.

(d) For each state fiscal year beginning on or after July 1, 2020, the general assembly may appropriate or transfer, in its sole discretion, moneys from the general fund to the highway users tax fund, the capital construction fund, or both funds.

(e) Repealed.

(3) and (4) Repealed.

(5) (a) On July 1, 2018, the state treasurer shall transfer a total amount of four hundred ninety-five million dollars from the general fund for the purposes of funding state and local transportation needs as follows:

(I) Three hundred forty-six million five hundred thousand dollars to the state highway fund;

(II) Seventy-four million two hundred fifty thousand dollars to the highway users tax fund for allocation to counties and municipalities as specified in section 43-4-205 (6.4); and

(III) Seventy-four million two hundred fifty thousand dollars to the multimodal transportation options fund.

(b) On July 1, 2019, the state treasurer shall transfer a total amount of one hundred fifty million dollars from the general fund for the purposes of funding state and local transportation needs as follows:

(I) One hundred five million dollars to the state highway fund;

(II) Twenty-two million five hundred thousand dollars to the highway users tax fund for allocation to counties and municipalities as specified in section 43-4-205 (6.4); and

(III) Twenty-two million five hundred thousand dollars to the multimodal transportation options fund.

(c) Except as otherwise provided in subsection (5)(d) of this section and section 43-4-714 (2)(a), on June 30, 2020, and on each succeeding June 30 through June 30, 2039, the state treasurer shall transfer money from the general fund to the state highway fund as follows:

(I) (A) If a citizen-initiated ballot issue that authorizes the state to issue transportation revenue anticipation notes but does not authorize the state to collect additional tax revenue for the purpose of providing a revenue source for repayment of the notes is submitted to the registered electors of the state for their approval or rejection at the November 2018 general election and a majority of the electors voting on the ballot issue vote "Yes/For", then, even if another citizen-initiated ballot issue that authorizes the state to issue transportation revenue anticipation notes and also authorizes the state to collect additional tax revenue for the purpose of providing a revenue source for repayment of the notes is submitted to the registered electors of the state for their approval or rejection at the November 2018 general election and a majority of the electors voting on the ballot issue vote "Yes/For", zero dollars;

(B) This subsection (5)(c)(I) is repealed, effective January 1, 2019, if a citizen-initiated ballot issue that authorizes the state to issue transportation revenue anticipation notes but does not authorize the state to collect additional tax revenue for the purpose of providing a revenue source for repayment of the notes is not submitted to the registered electors of the state for their approval or rejection at the November 2018 general election or if such a ballot issue is submitted and a majority of the electors voting on the ballot issue vote "No/Against";

(C) This subsection (5)(c)(I)(C) and subsection (5)(c)(I)(B) of this section are repealed, effective January 1, 2019, if a citizen-initiated ballot issue that authorizes the state to issue transportation revenue anticipation notes but does not authorize the state to collect additional tax revenue for the purpose of providing a revenue source for repayment of the notes is submitted to the registered electors of the state for their approval or rejection at the November 2018 general election and a majority of the electors voting on the ballot issue vote "Yes/For";

(II) (A) Except as otherwise provided in subsection (5)(c)(I)(A) of this section, if a citizen-initiated ballot issue that authorizes the state to issue transportation revenue anticipation notes and also authorizes the state to collect additional tax revenue for the purpose of providing a revenue source for repayment of the notes is submitted to the registered electors of the state for their approval or rejection at the November 2018 general election and a majority of the electors voting on the ballot issue vote "Yes/For", fifty million dollars;

(B) This subsection (5)(c)(II) is repealed, effective January 1, 2019, if a citizen-initiated ballot issue that authorizes the state to issue transportation revenue anticipation notes and also authorizes the state to collect additional tax revenue for the purpose of providing a revenue source for repayment of the notes is not submitted to the registered electors of the state for their approval or rejection at the November 2018 general election, if such a ballot issue is submitted and a majority of the electors voting on the ballot issue vote "No/Against", or if a citizen-initiated ballot issue that authorizes the state to issue transportation revenue anticipation notes but does not authorize the state to collect additional tax revenue for the purpose of providing a revenue source for repayment of the notes is submitted to the registered electors of the state for their approval or rejection at the November 2018 general election and a majority of the electors voting on the ballot issue vote "Yes/For";

(C) This subsection (5)(c)(II)(C) and subsection (5)(c)(II)(B) of this section are repealed, effective January 1, 2019, if a citizen-initiated ballot issue that authorizes the state to issue transportation revenue anticipation notes and also authorizes the state to collect additional tax revenue for the purpose of providing a revenue source for repayment of the notes is submitted to the registered electors of the state for their approval or rejection at the November 2018 general election and a majority of the electors voting on the ballot issue vote "Yes/For" and either a citizen-initiated ballot issue that authorizes the state to issue transportation revenue anticipation notes but does not authorize the state to collect additional tax revenue for the purpose of providing a revenue source for repayment of the notes is not submitted to the registered electors of the state for their approval or rejection at the November 2018 general election or, if such a ballot issue is submitted, a majority of the electors voting on the ballot issue vote "No/Against";

(III) (A) If a ballot issue that authorizes the state to issue transportation revenue anticipation notes is submitted to the registered electors of the state for their approval or rejection at the November 2019 statewide election pursuant to section 43-4-705 (13)(b) and a majority of the electors voting on the ballot issue vote "No/Against", fifty million dollars;

(B) This subsection (5)(c)(III) is repealed, effective January 1, 2019, if any citizen-initiated ballot issue that authorizes the state to issue transportation revenue anticipation notes is submitted to the registered electors of the state for their approval or rejection at the November 2018 general election or and a majority of the electors voting on the ballot issue vote "Yes/For";

(C) This subsection (5)(c)(III) is repealed, effective January 1, 2020, if a ballot issue that authorizes the state to issue transportation revenue anticipation notes is submitted to the registered electors of the state for their approval or rejection at the November 2019 statewide election pursuant to section 43-4-705 (13)(b) and a majority of the electors voting on the ballot issue vote "Yes/For";

(D) This subsection (5)(c)(III)(D) and subsections (5)(c)(III)(B) and (5)(c)(III)(C) of this section are repealed, effective January 1, 2020, if a ballot issue that authorizes the state to issue transportation revenue anticipation notes is submitted to the registered electors of the state for their approval or rejection at the November 2019 statewide election pursuant to section 43-4-705 (13)(b) and a majority of the electors voting on the ballot issue vote "No/Against"; or

(IV) (A) If a ballot issue that authorizes the state to issue transportation revenue anticipation notes is submitted to the registered electors of the state for their approval or rejection at the November 2019 statewide election pursuant to section 43-4-705 (13)(b) and a majority of the electors voting on the ballot issue vote "Yes/For", one hundred twenty-two million six hundred thousand dollars;

(B) This subsection (5)(c)(IV) is repealed, effective January 1, 2019, if any citizen-initiated ballot issue that authorizes the state to issue transportation revenue anticipation notes is submitted to the registered electors of the state for their approval or rejection at the November 2018 general election and a majority of the electors voting on the ballot issue vote "Yes/For";

(C) This subsection (5)(c)(IV) is repealed, effective January 1, 2020, if a ballot issue that authorizes the state to issue transportation revenue anticipation notes is submitted to the registered electors of the state for their approval or rejection at the November 2019 statewide election pursuant to section 43-4-705 (13)(b) and a majority of the electors voting on the ballot issue vote "No/Against";

(D) This subsection (5)(c)(IV)(D) and subsections (5)(c)(IV)(B) and (5)(c)(IV)(C) of this section are repealed, effective January 1, 2020, if a ballot issue that authorizes the state to issue transportation revenue anticipation notes is submitted to the registered electors of the state for their approval or rejection at the November 2019 statewide election pursuant to section 43-4-705 (13)(b) and a majority of the electors voting on the ballot issue vote "Yes/For"; or

(d)

(I) If the transportation commission allocates money from the transportation revenue anticipation notes reserve account of the state highway fund pursuant to section 43-4-714 (2) during any state fiscal year, the amount of any transfer required by subsection (5)(c)(IV)(A) of this section is reduced by an amount equal to the amount of the allocation from the account.

(II) This subsection (5)(d) is repealed:

(A) Effective January 1, 2019, if a citizen-initiated ballot issue that authorizes the state to issue transportation revenue anticipation notes is submitted to the registered electors of the state for their approval or rejection at the November 2018 general election and a majority of the electors voting on the ballot issue vote "Yes/For";

(B) Effective January 1, 2020, if a ballot issue that authorizes the state to issue transportation revenue anticipation notes is submitted to the registered electors of the state for their approval or rejection at the November 2019 statewide election pursuant to section 43-4-705 (13)(b) and a majority of the electors voting on the ballot issue vote "No/Against".

(III) This subsection (5)(d)(III) and subsection (5)(d)(II) of this section are repealed, effective January 1, 2020, if a ballot issue that authorizes the state to issue transportation revenue anticipation notes is submitted to the registered electors of the state for their approval or rejection at the November 2019 statewide election pursuant to section 43-4-705 (13)(b) and a majority of the electors voting on the ballot issue vote "Yes/For".