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

Joint Budget Committee. Section 2 of the bill allows the Colorado water conservation board to direct the state treasurer to transfer money from the severance tax perpetual base fund to the species conservation trust fund. Section 1 allows the species conservation trust fund to receive money that the state treasurer transfers to the fund from the severance tax perpetual base fund.      Section 3 directs the state treasurer to, beginning on June 30, 2027, annually transfer 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.(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

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