SB 18-192
signedLocal Government Liable Fracking Ban Oil And Gas Moratorium
Plain-English Summary
AI-generatedSenate Bill 18-192, which has been signed into law, addresses restrictions on oil and gas activities in Colorado. It states that if a local government bans hydraulic fracturing or puts a moratorium on oil and gas activities, they must compensate affected parties such as mineral owners, lessees, and royalty owners for any losses or damages incurred due to these restrictions. This means that communities cannot simply ban fracking without providing financial compensation to those who stand to lose from such bans.
Official Summary
The bill specifies that a local government that bans hydraulic fracturing of an oil and gas well is liable to the mineral interest owner for the value of the mineral interest and that a local government that enacts a moratorium on oil and gas activities shall compensate oil and gas operators, mineral lessees, and royalty owners for all costs, damages, and losses of fair market value associated with the moratorium. (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.) Read More
Details
- Chamber
- Senate
- First action
- 2018-04-18
- Latest action
- 2018-03-05
- Last action desc.
- Introduced In Senate - Assigned to Agriculture, Natural Resources, & Energy
- OpenStates
- View source ↗