COLORADO CONSTITUTION
ARTICLE XXIV
OLD AGE PENSIONS
Art. XXIV §1 | FUND CREATED
Art. XXIV §2 | MONEYS ALLOCATED TO FUND
(b) Eighty-five percent of all net revenue accrued or accruing, received or receivable from taxes of whatever kind upon all malt, vinous, or spirituous liquor, both intoxicating and non-intoxicating, and license fees connected therewith.
(c) (Deleted by amendment, L. 2006, p. 2956, effective upon proclamation of the Governor, L. 2007, p. 2964, December 31, 2006.)
(d) All grants in aid from the federal government for old age assistance.
(e) (Deleted by amendment, L. 2006, p. 2956, effective upon proclamation of the Governor, L. 2007, p. 2964, December 31, 2006.)
(f) Such other money as may be allocated to said fund by the general assembly.
Art. XXIV §3 | PERSONS ENTITLED TO RECEIVE PENSIONS
Art. XXIV §4 | THE STATE BOARD OF PUBLIC WELFARE TO ADMINISTER FUND
Art. XXIV §5 | REVENUES FOR OLD AGE PENSION FUND CONTINUED
Art. XXIV §6 | BASIC MINIMUM AWARD
(b) From and after the effective date of this article, the basic minimum award payable to those persons qualified to receive an old age pension shall be one hundred dollars monthly, provided, however, that the amount of net income, from whatever source, that any person qualified to receive a pension may have shall be deducted from the amount of the pension award unless otherwise provided by law.
(c) The state board of public welfare, or such other agency as may be authorized by law to administer old age pensions, shall have the power to adjust the basic minimum award above one hundred dollars per month if, in its discretion, living costs have changed sufficiently to justify that action.
Art. XXIV §7 | STABILIZATION FUND AND HEALTH AND MEDICAL CARE FUND
(b) Any moneys remaining in the old age pension fund after full payment of such basic minimum awards shall be transferred to a fund to be known as the stabilization fund, which fund shall be maintained at the amount of five million dollars, and restored to that amount after any disbursements therefrom. The state board of public welfare, or such other agency as may be authorized by law to administer old age pensions, shall use the moneys in such fund only to stabilize payments of basic minimum awards.
(c) Any moneys remaining in the old age pension fund, after full payment of basic minimum awards and after establishment and maintenance of the stabilization fund in the amount of five million dollars, shall be transferred to a healthand medical care fund. The state board of public welfare, or such other agency as may be authorized by law to administer old age pensions, shall establish and promulgate rules and regulations for administration of a program to provide health and medical care to persons who qualify to receive old age pensions and who are not patients in an institution for tuberculosis or mental disease; the costs of such program, not to exceed ten million dollars in any fiscal year, shall be defrayed from such health and medical care fund; provided, however, all moneys available, accrued or accruing, received or receivable, in said health and medical care fund, in excess of ten million dollars in any fiscal year shall be transferred to the general fund of the state to be used pursuant to law.
Art. XXIV §8 | FUND TO REMAIN INVIOLATE
Art. XXIV §9 | EFFECTIVE DATE. (REPEALED)
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