Joint Budget Committee. The bill transfers the powers, duties, and functions of the Colorado geological survey and the office of the state geologist in the department of natural resources (department) to the Colorado school of mines. The transfer will occur on January 1, 2013. Prior to the transfer, the department and the school of mines shall enter into a memorandum of understanding concerning the functions and objectives of the geological survey as transferred to the school of mines, the transfer of employees, the transfer of real and personal property, department contracts, and other specific provisions relating to the transfer. The bill provides for the transfer of unencumbered and unexpended appropriations to the school of mines.

If the department and the school of mines do not enter into a memorandum of understanding on or before December 31, 2012, the transfer will not occur, and the new statutory provisions created in article 41 of title 23 are repealed. The school of mines shall notify the revisor of statutes if the department and the school of mines enter into the memorandum of understanding.

The bill relocates, with amendments, statutory provisions relating to the geological survey and the office of the state geologist to the statutes governing the school of mines and makes conforming amendments relating to the transfer.