First Regular Session
Sixty-second General Assembly
LLS NO. 99-0317.01 Bob Lackner HOUSE BILL 99-1108
STATE OF COLORADO
BY REPRESENTATIVES Miller and Taylor;
also SENATOR Wattenberg.
REVISED
FINANCE
A BILL FOR AN ACT
101 CONCERNING THE PERMANENT EXTENSION OF THE INCREASED THRESHOLD
102 FOR THE TONNAGE EXEMPTION FOR COAL FROM THE SEVERANCE
103 TAX.
Bill Summary
(Note: This summary applies to this bill as introduced and does
not necessarily reflect any amendments that may be subsequently
adopted.)
[ ] denotes HOUSE amendment. { } denotes SENATE amendment.
Capital letters indicate new material to be added to existing statute.
Dashes through the words indicate material to be deleted from existing statute.
Page 2
[]Permanently extends the increased threshold for the tonnage
exemption for coal from the severance tax. That exemption is currently
set to expire July 1, 2000.
1 Be it enacted by the General Assembly of the State of Colorado:
2 SECTION 1. 39-29-106 (2), Colorado Revised Statutes, is
3 amended to read:
4 39-29-106. Tax on the severance of coal. (2) (a) For the period
5 of July 1, 1984, through June 30, 2000, No tax provided for in subsection
6 (1) of this section shall be imposed on the first twenty-five thousand tons
7 of coal produced in each quarter of the taxable year. However, nothing
8 in this paragraph (a) shall exempt a company from the production
9 employee report as required by section 39-29-110 (1) (d) (I). This
10 paragraph (a) is repealed, effective July 1, 2000.
11 (b) On and after July 1, 2000, no tax provided for in subsection
12 (1) of this section shall be imposed on the first eight thousand tons of coal
13 produced in each quarter of the taxable year.
14 (c) Repealed.
15 SECTION 2. Safety clause. The general assembly hereby finds,
16 determines, and declares that this act is necessary for the immediate
17 preservation of the public peace, health, and safety.