LEG00244

• Bill Number: SB79-147
• Year: 1979
• Title: Concerning the Allocation of Revenues Derived from the Various Severance Taxes Imposed by the State
• Legislation - Doc Type: Other CWCB Related Bills - Killed

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fund created by section 39-29-110.
SECTION 2. 39-29-108 (2), Colorado Revised Statutes 1973,
as amended, is,REPEALEO AND REENACTED, WITH AMENDMENTS, to read:

39-29-108. Allocation of

tax

revenues.

severance

(2) Unappropriated revenues collected pursuant to sections

39-29-104, 39-29-106, and 39-29-107 shall be deposited in the

local government severance tax fund created pursuant to section

8

39-29-110.

SECTION 3. 39-29-108, Colorado Revised Statutes 1973, as
amended, is amended BY THE ADDITION OF A NEW SUBSECTION to read:

39-29-108. Allocation of

tax

revenues.

severance

(3) Unappropriated interest moneys earned by investment of state
severance tax receipts shall be deposited in the state general
fund.

SECTION 4. 39-29-110 (l)(b) and (l)(c) , Colorado Revised

,
Statutes 1973, as amended, are amended to read:
39-29-110. Local government severance tax fund - creation -
administration - energy impact assistance advisory committee -
created. (1) (b) E;ght-fi~e FIFTY percent of the funds from the
local government severance tax fund shall be distributed to those
political subdivisions socially or economically impacted by the
development, processing, or energy conversion of minerals and

mineral fuels subject to taxation under this article and used for
the planning, construction, and maintenance of public facilities
and for the provision of public services. Such funds shall also
be distributed to political subdivisions to compensate them for

-3-

147