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HB16-1433

Retain & Spend Severance Tax Revenues For Reserve Fund

Concerning the creation of a reserve that includes state severance tax revenue that is a voter-approved revenue change to the constitutional limitation on state fiscal year spending, and, in connection therewith, creating the severance tax reserve fund; requiring severance tax revenue that exceeds an annual cap to be deposited in the reserve; seeking voter approval to retain and spend the severance tax revenue deposited in the reserve; permitting the general assembly to use money from the reserve if there is insufficient money to pay for programs supported by the severance tax; and requiring any money in the reserve that exceeds a reserve cap to be transferred to the Colorado water conservation board construction fund.
Session:
2016 Regular Session
Subjects:
Energy
Fiscal Policy & Taxes
State Revenue & Budget

Status

Introduced
Lost

Bill Text

Sponsors

Sponsor Type Legislators
Prime Sponsor

Rep. M. Hamner, Rep. B. Rankin
Sen. P. Steadman

Sponsor

Co-sponsor