HB 17-1124
failedLocal Government Liable Fracking Ban Oil And Gas Moratorium
Plain-English Summary
AI-generatedHouse Bill 17-1124, which has been signed into law in Colorado, addresses local government restrictions on oil and gas activities. It states that if a city or county bans hydraulic fracturing (fracking) for oil and gas wells, it must pay the mineral rights owners for the value of their interests. Additionally, if a local government puts a hold on oil and gas operations, they are required to compensate companies, leaseholders, and royalty owners for any financial losses or damages incurred during this period. This law affects communities that have considered or implemented fracking bans or moratoriums and ensures that those with mineral rights or business interests in the area receive compensation when such restrictions occur.
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 this bill as introduced.)
Details
- Chamber
- House
- First action
- 2017-02-22
- Latest action
- 2017-01-26
- Last action desc.
- Introduced In House - Assigned to State, Veterans, & Military Affairs
- OpenStates
- View source ↗
Related Legislation
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