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