ColoradoDecarbonization Tax Credits Administration Cash Fund
What it does
For state fiscal years 2023-24 through 2026-27, current law requires the state treasurer to credit to the decarbonization tax credits administration cash fund (fund) oil and gas severance tax revenue equal to the amount attributable to the decreased severance tax credit allowed for oil and gas production for tax years 2024 through 2026. For state fiscal years 2024-25 and 2025-26, section 2 of the act specifies that the amount of oil and gas severance tax revenue credited to the fund shall not exceed the net revenue from the oil and gas severance tax collection.
More detail
Section 3 requires the state treasurer to transfer $2,500,000 from the energy and carbon management cash fund to the fund on June 30, 2025.
Section 1 requires the state treasurer to transfer $2,500,000 from the fund to the energy and carbon management cash fund on January 1, 2026. (Note: This summary applies to this bill as enacted.)
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Jun 3Governor Jared Polis SignedBecame Law
- May 13Sent to the GovernorTo Governor
- May 13Signed by the President of the Senate
- May 13Signed by the Speaker of the House
- May 1House Third Reading Passed - No AmendmentsPassed House
- Vote recorded BILL. Result: pass.Lower
- Apr 30House Committee on Appropriations Refer Unamended to House Committee of the WholeMinor
- Apr 30House Second Reading Special Order - Passed - No Amendments
- Apr 28Senate Third Reading Passed - No AmendmentsPassed Senate
- Vote recorded BILL. Result: pass.Upper
- Apr 28Introduced In House - Assigned to AppropriationsMinor
- Apr 25Senate Committee on Appropriations Refer Unamended to Senate Committee of the WholeMinor
- Apr 25Senate Second Reading Special Order - Passed - No Amendments
- Apr 23Introduced In Senate - Assigned to AppropriationsIntroduced