NOTE: The governor signed this measure on 5/1/2015.
      
      
      SENATE BILL 15-255
      
      
      BY SENATOR(S) Lambert, Grantham, Steadman;
      also REPRESENTATIVE(S) Hamner, Young, Fields, Rosenthal,
      Hullinghorst.
      
      
      Concerning the deposit of twenty million dollars of state
           severance tax revenues in the general fund.
      
      
      Be it enacted by the General Assembly of the State of Colorado:
      
           SECTION 1.  In Colorado Revised Statutes, 39-29-108, amend (2)
      (a) (I); and add (2) (c) as follows:
      
           39-29-108.  Allocation of severance tax revenues - definitions -
      repeal. (2) (a) (I)  Of the total gross receipts realized from the severance
      taxes imposed on minerals and mineral fuels under the provisions of this
      article after June 30, 2012, one million five hundred thousand dollars shall
      be annually transferred on July 1, 2012, and each July 1 thereafter through
      July 1, 2016, to the innovative energy fund created in section
      24-38.5-102.5, C.R.S. Of the remainder of the total gross receipts in each
      fiscal year after each July 1 transfer to the innovative energy fund, fifty
      percent shall be credited to the state severance tax trust fund created by
      section 39-29-109, and fifty percent shall be credited to the local
      government severance tax fund created by section 39-29-110, except as
      otherwise provided in paragraph (c) of this subsection (2).
      
           (c) (I)  The state treasurer shall credit to the general fund
      the first twenty million dollars of the gross receipts realized
      from the severance taxes imposed on minerals and mineral fuels
      under the provisions of this article that are received after the
      effective date of this paragraph (c), but before June 30, 2015.
      
           (II)  This paragraph (c) is repealed, effective January 1, 2017.
      
           SECTION 2.  Safety clause. The general assembly hereby finds,
      determines, and declares that this act is necessary for the immediate
      preservation of the public peace, health, and safety.
      
      
      
      
      ____________________________  ____________________________
      Bill L. Cadman                Dickey Lee Hullinghorst
      PRESIDENT OF                     SPEAKER OF THE HOUSE
      THE SENATE                         OF REPRESENTATIVES
      
      
      
      
      
      
      ____________________________  ____________________________
      Cindi L. Markwell                      Marilyn Eddins
      SECRETARY OF                 CHIEF CLERK OF THE HOUSE
      THE SENATE                         OF REPRESENTATIVES
      
      
      
      
                  APPROVED________________________________________
      
      
      
      
      
                                    _________________________________________
                                    John W. Hickenlooper
                                    GOVERNOR OF THE STATE OF COLORADO