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FF016CF93CCF44E9872582B10055AEB7 Hearing Summary




PUBLIC
BILL SUMMARY For SEVERANCE TAX REVENUE

INTERIM COMMITTEE  WATER RESOURCES REVIEW COMMITTEE
Date Jun 19, 2018      
Location HCR 0112



Severance Tax Revenue - Committee Discussion Only


09:35:57 AM  

Larson Silbaugh, Legislative Council Staff, presented an overview of severance tax revenue in Colorado.  The presentation can be found at:  http://leg.colorado.gov/node/1221201/.

09:45:42 AM  

Mr. Silbaugh responded to committee questions regarding the recent Supreme Court decision resulting from the BP America Production Co. court case, and its impact on state severance tax revenue.

09:50:58 AM  

Bill Levine, Department of Natural Resources, presented an overview of how severance tax collections are spent in the state.  A copy of the presentation can be found at: http://leg.colorado.gov/node/1221201/.

10:03:11 AM  

Carly Jacobs, Department of Natural Resources, discussed how the Severance Tax Operational Fund is spent within the department.

10:10:20 AM  

Mr. Levine responded to committee questions regarding recent severance tax collections and other potential revenue sources to fund large water projects in the state.

10:13:17 AM  
Mr. Silbaugh and Ms. Jacobs responded to
committee questions regarding tax refunds related to the BP court case.






The effective date for bills enacted without a safety clause is August 7, 2024, if the General Assembly adjourns sine die on May 8, 2024, unless otherwise specified. Details