HB-1083 Mineral Revenue Local Government Distribution (Curry/Penry)

Posted on February 2, 2008 in Colorado Legislation

Background: Changes the formula for the direct distribution of severance tax revenue to local governments. Currently, allocation of these moneys is based solely on employee residence, and is done on a facility by facility basis. This bill changes the allocation formula to one based on weighted measures of the following three factors: the proportion of industry employees within a given county to the total number of employees residing in the state; the proportion of mine and well permits issued within a given county to the total number of such permits issued within the state; and the proportion of the overall mineral production within the county to the overall mineral production within the state.The bill requires that each of these three factors be given a weight according to guidelines established by the Department of Local Affairs (DOLA), as long as each factor has a weight of at least 25 percent.
Most Recent Action: Sent to Governor
Position: Monitor