Colorado Secretary of State logo - cube with a C in it

Colorado
Secretary of State
Jena Griswold

Colorado Secretary of State logo - Colorado Secretary of State Jena Griswold

Picture of Secretary of State Jena Griswold

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Colorado Secretary of State logo - cube with a C in it

Colorado
Secretary of State
Jena Griswold

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Results for Proposed Initiative #22

Ballot Title Setting Board
2019-2020

The title as designated and fixed by the Board is as follows:

STATE TAXES SHALL BE INCREASED $703,900,000 ANNUALLY BY A CHANGE TO THE COLORADO REVISED STATUTES CONCERNING THE SEVERANCE TAX ON OIL AND GAS EXTRACTED IN THE STATE, AND, IN CONNECTION THEREWITH, INCREASING EACH OF THE GRADUATED SEVERANCE TAX RATES BY 5 PERCENTAGE POINTS; ELIMINATING A CREDIT AGAINST THE SEVERANCE TAX BASED ON PROPERTY TAX PAID BY PRODUCERS; REDUCING THE MAXIMUM AMOUNT OF OIL OR GAS THAT A SEVERANCE TAX-EXEMPT WELL MAY PRODUCE WITHOUT ALL PRODUCTION FROM THE WELL BECOMING TAXABLE; EXEMPTING THE SEVERANCE TAX REVENUE AND RELATED INVESTMENT INCOME FROM THE STATE FISCAL YEAR SPENDING LIMIT; AND REQUIRING 44% OF THE SEVERANCE TAX REVENUE TO BE CREDITED IN EQUAL SHARES TO THE SEVERANCE TAX TRUST FUND AND THE LOCAL SEVERANCE TAX TRUST FUND AND UP TO 56% OF THE SEVERANCE TAX REVENUE TO BE SPENT IN EQUAL SHARES FOR THE PURPOSES OF PROVIDING ALL-DAY KINDERGARTEN AND PUBLIC SCHOOL FUNDING AND PROVIDING MEDICAL CARE AND TREATMENT FOR PEOPLE EXPERIENCING HEALTH IMPACTS PROXIMATELY CAUSED BY OIL AND GAS PRODUCTION.

The ballot title and submission clause as designated and fixed by the Board is as follows:

SHALL STATE TAXES BE INCREASED $703,900,000 ANNUALLY BY A CHANGE TO THE COLORADO REVISED STATUTES CONCERNING THE SEVERANCE TAX ON OIL AND GAS EXTRACTED IN THE STATE, AND, IN CONNECTION THEREWITH, INCREASING EACH OF THE GRADUATED SEVERANCE TAX RATES BY 5 PERCENTAGE POINTS; ELIMINATING A CREDIT AGAINST THE SEVERANCE TAX BASED ON PROPERTY TAX PAID BY PRODUCERS; REDUCING THE MAXIMUM AMOUNT OF OIL OR GAS THAT A SEVERANCE TAX-EXEMPT WELL MAY PRODUCE WITHOUT ALL PRODUCTION FROM THE WELL BECOMING TAXABLE; EXEMPTING THE SEVERANCE TAX REVENUE AND RELATED INVESTMENT INCOME FROM THE STATE FISCAL YEAR SPENDING LIMIT; AND REQUIRING 44% OF THE SEVERANCE TAX REVENUE TO BE CREDITED IN EQUAL SHARES TO THE SEVERANCE TAX TRUST FUND AND THE LOCAL SEVERANCE TAX TRUST FUND AND UP TO 56% OF THE SEVERANCE TAX REVENUE TO BE SPENT IN EQUAL SHARES FOR THE PURPOSES OF PROVIDING ALL-DAY KINDERGARTEN AND PUBLIC SCHOOL FUNDING AND PROVIDING MEDICAL CARE AND TREATMENT FOR PEOPLE EXPERIENCING HEALTH IMPACTS PROXIMATELY CAUSED BY OIL AND GAS PRODUCTION?

Hearing February 6, 2019

Single subject approved; staff draft amended; titles set.
Hearing adjourned 2:23 PM.

Rehearing February 20, 2019

Motion for Rehearing granted only to the extent that the Board amended the titles; denied in all other respects.
Hearing adjourned 1:40 PM.

* Unofficially captioned “Severance Taxes on Oil and Gas" by legislative staff for tracking purposes. This caption is not part of the titles set by the Board.