Date: 03/02/2006

Final
BILL SUMMARY for SB06-142

HOUSE COMMITTEE ON FINANCE

Votes: View--> Action Taken:
Refer Senate Bill 06-142 to the Committee of the WPASS


09:45 AM -- Senate Bill 06-142 - Concerning the Oil and Gas Conservation and Environmental Response Fund

Representative Hall, prime sponsor, explained that Senate Bill 06-142 would increase the cap on the 2-year average of the unobligated portion of the Oil and Gas Conservation and Environmental Response Fund from $2 million to $4 million. The primary purpose of increasing the cap is to allow the fund to be an emergency response tool. The increased cap in the bill also prevents an unnecessary spendown of the account. Representative Hall distributed a fact-sheet on Senate Bill 06-142 to committee members (Attachment A).

The following person testified:

09:51 AM -- Mr. Brian Macke, Colorado Oil and Gas Conservation Commission, responded to committee questions. Mr. Macke commented that the environmental impact of oil and gas drilling operations is mitigated by funding under the bill. Mr. Macke closed by discussing the fund balance and previous year balances.

After a brief committee discussion, Representative Vigil, Chairman, placed the bill on the table for action.
BILL:SB06-142
TIME: 09:58:44 AM
MOVED:McCluskey
MOTION:Refer Senate Bill 06-142 to the Committee of the Whole. The motion passed on a 12-0-1 vote.
SECONDED:Frangas
VOTE
Benefield
Yes
Cloer
Yes
Crane
Yes
Frangas
Yes
Garcia
Yes
Harvey
Yes
Jahn
Yes
Kerr
Yes
Marshall
Excused
Massey
Yes
McCluskey
Yes
Judd
Yes
Vigil
Yes
Final YES: 12 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS