SB 24-105

Senate Bill 24-105 clarifies and updates the fees that fuel manufacturers and distributors must pay in Colorado. These fees help fund cleanup efforts for contaminated storage tanks and support other state agencies like transportation and law enforcement. The bill also removes outdated rules about one of these fees, ensuring better management and transparency. Signed into law by the governor on April 4, 2024, it will take effect on August 7, 2024.

Official Summary

Under current law, manufacturers and distributors of fuel products in the state are required to pay a fee each calendar month to the department of revenue (department). The fee is deposited in the petroleum storage tank fund. The department also collects another fee (PFAS cash fund fee) to fund the perfluoroalkyl and polyfluoroalkyl substances cash fund, support the department of transportation, support the Colorado state patrol, and pay the costs to the department for administering the fee. The act clarifies the fee amounts that the department is required to collect for the petroleum storage tank fund. The act also repeals outdated provisions regarding the PFAS cash fund fee and clarifies that the department must annually transmit the collected fee to the state treasurer. APPROVED by Governor April 4, 2024 EFFECTIVE August 7, 2024(Note: This summary applies to this bill as enacted.)

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