HB 26-1304

HB 26-1304 allows History Colorado, which is the state historical society, to sell certain mineral rights and royalty interests it owns in Weld County and West Virginia. The money from these sales will go into a fund that History Colorado can use for important upgrades and maintenance at its museums and facilities, like improving their collections care facility. Since the bill has been signed, History Colorado now has the authority to proceed with selling these rights and using the proceeds as outlined in the bill.

Official Summary

The act authorizes the state historical society, also known as history Colorado, to dispose of mineral rights and nonparticipating royalty interests associated with certain properties in Weld County and West Virginia. The state controller must approve all agreements relating to the disposition prior to closing. History Colorado shall provide an update on the disposition to the capital development committee. History Colorado is required to credit the proceeds of the disposition to the state museum cash fund to be used for a strategic investment in capital improvements, including the retrofitting of the collections care facility and controlled maintenance.(Note: This summary applies to this bill as enacted.)

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