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HB20-1338

Operational Severance Tax Transfer To Agriculture Value-added

Concerning the transfer of money from the severance tax operational fund to the agriculture value-added cash fund to be used to promote agricultural energy-related projects.
Session:
2020 Regular Session
Subjects:
Energy
Natural Resources & Environment
Bill Summary

If there is money in the severance tax operational fund (operational fund) after funding core departmental programs and a reserve requirement, then the state treasurer makes transfers to the natural resources and energy grant programs (grant programs). The agriculture value-added cash fund (cash fund), which was used to promote agricultural energy-related projects, was one of these grant programs in prior fiscal years.

The bill recreates the agriculture value-added cash fund as a grant program by requiring the state treasurer to transfer $500,000, or so much as may be available, for the next 9 state fiscal years, from the operational fund to the cash fund to be used to promote agricultural energy-related projects. The transferred money in the cash fund is continuously appropriated to the department of agriculture for allocation to the Colorado agricultural value-added development board for this purpose only.


(Note: This summary applies to this bill as introduced.)

Status

Introduced
Under Consideration

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Bill Text

Sponsors

Sponsor Type Legislators
Prime Sponsor

Rep. J. Arndt
Sen. K. Donovan

Sponsor

Co-sponsor