Colorado Legislative Council Staff
NO FISCAL IMPACT
Drafting Number: Prime Sponsor(s): |
LLS 99-0317 Rep. Miller
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Date: Bill Status: Fiscal Analyst: |
January 12, 1999 House Finance Steve Tammeus (866-2756) |
TITLE: CONCERNING THE PERMANENT EXTENSION OF THE INCREASED THRESHOLD FOR THE TONNAGE EXEMPTION FOR COAL FROM THE SEVERANCE TAX.
Summary of Assessment
Under current law, the exemption from severance tax for the first 25,000 tons of coal produced in each quarter of the taxable year is to expire on June 30, 2000. This bill repeals the expiration date and permanently extends the exemption. The bill will become effective upon the signature of the Governor.
The continuation of an existing program does not affect state base revenue or expenditures. Therefore, this bill is assessed as having no fiscal impact.
Departments Contacted
Revenue