HB 24-1367

House Bill 24-1367, which has now been signed into law, removes an exemption that allowed certain low-producing oil and gas wells, known as "stripper wells," to avoid paying a severance tax in Colorado. This change means that these small producers will now have to pay the same taxes as larger operations. The bill affects owners of stripper wells and could lead to increased state revenue from these smaller production sites. Since it has been signed, the law is now in effect.