Colorado 2025 Regular Session

Colorado Senate Bill SB307 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	First Regular Session
2	2	Seventy-fifth General Assembly
3	3	STATE OF COLORADO
4	4	INTRODUCED
5	5
6	6
7	7	LLS NO. 25-1054.01 Pierce Lively x2059
8	8	SENATE BILL 25-307
9	9	Senate Committees House Committees
10	10	Appropriations
11	11	A BILL FOR AN ACT
12	12	C
13	13	ONCERNING THE DECARBONIZATION TAX CREDITS ADMINISTRATION101
14	14	CASH FUND, AND, IN CONNECTION THEREWITH , REQUIRING THAT102
15	15	MONEY CREDITED TO THE FUND NOT EXCEED THE NET REVENUE103
16	16	FROM THE COLLECTION OF OIL AND GAS SEVERANCE TAX ,104
17	17	TRANSFERRING TWO MILLION FIVE HUNDRED THOUSAND105
18	18	DOLLARS FROM THE ENERGY AND CARBON MANAGEMENT CASH106
19	19	FUND TO THE FUND, AND TRANSFERRING TWO MILLION FIVE107
20	20	HUNDRED THOUSAND DOLLARS FROM THE F UND TO THE ENERGY108
21	21	AND CARBON MANAGEMENT CASH FUND .109
22	22	Bill Summary
23	23	(Note: This summary applies to this bill as introduced and does
24	24	not reflect any amendments that may be subsequently adopted. If this bill
25	25	passes third reading in the house of introduction, a bill summary that
26	26	SENATE SPONSORSHIP
27	27	Amabile and Bridges, Kirkmeyer
28	28	HOUSE SPONSORSHIP
29	29	Sirota and Bird, Taggart
30	30	Shading denotes HOUSE amendment. Double underlining denotes SENATE amendment.
31	31	Capital letters or bold & italic numbers indicate new material to be added to existing law.
32	32	Dashes through the words or numbers indicate deletions from existing law. applies to the reengrossed version of this bill will be available at
33	33	http://leg.colorado.gov/.)
34	34	Joint Budget Committee. For state fiscal years 2023-24 through
35	35	2026-27, current law requires the state treasurer to credit to the
36	36	decarbonization tax credits administration cash fund (fund) oil and gas
37	37	severance tax revenue equal to the amount attributable to the decreased
38	38	severance tax credit allowed for oil and gas production for tax years 2024
39	39	through 2026. Section 2 of the bill provides that for state fiscal years
40	40	2024-25 and 2025-26, oil and gas severance tax revenue credited to the
41	41	fund shall not exceed the net revenue from the oil and gas severance tax
42	42	collection.
43	43	Section 3 requires the state treasurer to transfer $2,500,000 from
44	44	the energy and carbon management cash fund to the fund on June 30,
45	45	2025.
46	46	Section 1 requires the state treasurer to transfer $2,500,000 from
47	47	the fund to the energy and carbon management cash fund on January 1,
48	48	2026.
49	49	Be it enacted by the General Assembly of the State of Colorado:1
50	50	SECTION 1. In Colorado Revised Statutes, 24-38.5-120, add2
51	51	(3.5) as follows:3
52	52	24-38.5-120. Decarbonization tax credits administration cash4
53	53	fund - definitions - repeal. (3.5) (a) O
54	54	N JANUARY 1, 2026, THE STATE5
55	55	TREASURER SHALL TRANSFER TWO MILLION FIVE HUNDRED THOUSAND6
56	56	DOLLARS FROM THE FUND TO THE ENERGY AND CARBON M ANAGEMENT7
57	57	CASH FUND CREATED IN SECTION 34-60-122 (5).8
58	58	(b) T
59	59	HIS SUBSECTION (3.5) IS REPEALED, EFFECTIVE JULY 1, 2026.9
60	60	SECTION 2. In Colorado Revised Statutes, 39-29-108, amend10
61	61	(2)(e)(I); and add (2)(e)(IV) as follows:11
62	62	39-29-108. Allocation of severance tax revenues - definitions12
63	63	- repeal. (2) (e) (I) Except as provided in subsection (2)(e)(II) of this
64	64	13
65	65	section, For the state fiscal years 2023-24 through 2026-27, the state14
66	66	treasurer shall credit the discrete increased amount of severance tax for15
67	67	SB25-307-2- oil and gas production that is attributable to the reduction of the credit1
68	68	against tax pursuant to section 39-29-105 (2)(b)(II) and 39-29-105 (2)(c)2
69	69	to the decarbonization tax credits administration cash fund created in3
70	70	section 24-38.5-120 (2);
71	71	EXCEPT THAT, FOR STATE FISCAL YEARS 2024-254
72	72	AND 2025-26, MONEY CREDITED TO THE DECARBONIZATION TAX CREDITS5
73	73	ADMINISTRATION CASH FUND SHALL NOT EXCEED THE NET REVENUE FROM6
74	74	THE OIL AND GAS SEVERANCE TAX COLLECTION .7
75	75	(IV) T
76	76	HIS SUBSECTION (2)(e) IS REPEALED, EFFECTIVE DECEMBER8
77	77	31,
78	78	2036.9
79	79	SECTION 3. In Colorado Revised Statutes, 34-60-122, add (5)(f)10
80	80	as follows:11
81	81	34-60-122. Expenses - energy and carbon management cash12
82	82	fund created - repeal. (5) (f) (I) O
83	83	N JUNE 30, 2025, THE STATE13
84	84	TREASURER SHALL TRANSFER TWO MILLION FIVE HUNDRED THOUSAND14
85	85	DOLLARS FROM THE ENERGY AND CARBON MANAGEMENT CASH FUND TO15
86	86	THE DECARBONIZATION TAX CREDITS ADMINISTRATION CASH FUND16
87	87	CREATED IN SECTION 24-38.5-120 (2).17
88	88	(II) T
89	89	HIS SUBSECTION (5)(f) IS REPEALED, EFFECTIVE JULY 1, 2026.18
90	90	SECTION 4. Safety clause. The general assembly finds,19
91	91	determines, and declares that this act is necessary for the immediate20
92	92	preservation of the public peace, health, or safety or for appropriations for21
93	93	the support and maintenance of the departments of the state and state22
94	94	institutions.23
95	95	SB25-307
96	96	-3-