HB 26-1387

House Bill 26-1387, which has been signed into law, allows for money from Colorado's severance tax fund to be transferred to a new species conservation trust fund. Starting in 2027, the state treasurer will annually transfer up to $14.2 million or any leftover funds from the severance tax revenue that aren't needed for other programs, whichever is less, to this conservation fund. This bill affects how money from oil and gas taxes is used and supports wildlife conservation efforts in Colorado. Since it has been signed, the law is now in effect and being implemented by state officials.

Official Summary

The act directs the state treasurer to annually transfer no more than $3 million from the severance tax perpetual base fund to the species conservation trust fund.     The act also directs the state treasurer to, beginning on June 30, 2027, annually transfer from the severance tax operational fund to the general fund the lesser of $14.2 million or the difference between the amount of severance tax revenue projected to be deposited in the operational fund in the current fiscal year and the amount appropriated from the operational fund for certain programs in the same fiscal year.     The cash funds appropriation from the severance tax operational fund for the 2026-27 state fiscal year to the department of natural resources for use by the executive director's office for the species conservation trust fund is decreased by $3,000,000.(Note: This summary applies to this bill as enacted.)

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