HB18-1249
Anvil Points Federal Mineral Lease Distribution
Concerning the requirement that the state treasurer distribute any federal funds related to the naval oil shale reserve land to specified counties or their federal mineral lease districts.
Session:
2018 Regular Session
Subjects:
Bill Summary
Fiscal Policy & Taxes
State Government
Federal mineral lease revenue - anvil points - direct distribution to counties. If the state receives any federal mineral lease revenue from oil and gas production on naval oil shale reserve land that was set aside prior to January 1, 2009, and withheld by the federal government, then instead of depositing the money in the mineral leasing fund the state treasurer is required to distribute the money to the following counties or a related federal mineral lease district, if applicable:
- 40% to Garfield county;
- 40% to Rio Blanco county;
- 10% to Mesa county; and
- 10% to Moffat county.
The "Federal Mineral Lease District Act" is amended to permit these distributions to be made to a federal mineral lease district, if one exists, on behalf of a county.
(Note: This summary applies to this bill as enacted.)