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HB 24-1367

signed

Repeal Severance Tax Exemption for Stripper Wells

Plain-English Summary

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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.

Details

Chamber
House
First action
2024-05-14
Latest action
2024-03-11
Last action desc.
Introduced In House - Assigned to Energy & Environment
OpenStates
View source ↗

Sponsors

Related Legislation

This bill affects (24)

relates
HB 24-1192(2024A)· signed
Department of Local Affairs Supplemental
relates
HB 23-1272(2023A)· signed
Tax Policy That Advances Decarbonization
relates
HB 22-1179(2022A)· signed
Department of Public Health & Environment Supplemental
relates
SB 23-016(2023A)· signed
Greenhouse Gas Emission Reduction Measures
relates
HB 24-1196(2024A)· signed
Department of Public Health & Environment Supplemental
relates
SB 23-208(2023A)· signed
Correction Of Certain Tax Statute Cross References
relates
SB 23-124(2023A)· signed
Department of Local Affairs Supplemental
relates
SB 23-143(2023A)· signed
Retail Delivery Fees
relates
SB 17-078(2017A)· failed
Residential Storage Condo Unit Property Taxation
relates
HB 22-1118(2022A)· signed
Sales And Use Tax Refunds
relates
SB 17-260(2017A)· signed
Severance Tax Cash Fund Transfers To General Fund
relates
SB 24-135(2024A)· signed
Modification of State Agency & Department Reporting Requirements
relates
HB 18-1024(2018A)· signed
Relocate Title 12 Racing to New Title 44
relates
HB 17-1047(2017A)· signed
Reporting Requirements By Department of Local Affairs To General Assembly
relates
SB 22-013(2022A)· signed
Boards And Commissions
relates
HB 22-1133(2022A)· signed
Family And Medical Leave Insurance Fund
relates
HB 23-1103(2023A)· signed
Severance Tax Revenue Distribution
relates
SB 23-128(2023A)· signed
Department of Public Health & Environment Supplemental
relates
SB 23-303(2023A)· signed
Reduce Property Taxes And Voter-approved Revenue Change
relates
SB 24-111(2024A)· signed
Senior Primary Residence Prop Tax Reduction
relates
SB 22-006(2022A)· signed
Sales Tax Assistance For Small Bus
relates
HB 23-1277(2023A)· signed
Reporting Adjustments To Taxable Income
repeals
HB 22-1391(2022A)· signed
Modifications To Severance Tax
repeals
HB 23-1272(2023A)· signed
Tax Policy That Advances Decarbonization

Affected by (30)

amends
HB 24-1312(2024A)· signed
State Income Tax Credit for Careworkers
amends
SB 24-230(2024A)· signed
Oil & Gas Production Fees
amends
SB 25-037(2025A)· signed
Coal Transition Grants
amends
HB 26-1115(2026A)· signed
Prepaid Wireless Telecom Services Modifications
amends
HB 24-1349(2024A)· signed
Firearms & Ammunition Excise Tax
amends
HB 25-1154(2025A)· signed
Communication Services People with Disabilities Enterprise
relates
HB 25-1061(2025A)· signed
Community Schoolyards Grant Program
relates
HB 26-1165(2026A)· signed
Department of Public Health & Environment Supplemental
relates
SB 25-104(2025A)· signed
Department of Public Health & Environment Supplemental
relates
HB 26-1289(2026A)· signed
Modification of Certain Tax Expenditures
relates
HB 24-1413(2024A)· signed
Severance Tax Transfers
relates
SB 24-174(2024A)· signed
Sustainable Affordable Housing Assistance
relates
SB 25-100(2025A)· signed
Department of Local Affairs Supplemental
relates
SB 25-307(2025A)· signed
Decarbonization Tax Credits Administration Cash Fund
relates
SB 25-040(2025A)· signed
Future of Severance Taxes & Water Funding Task Force
relates
SB 24-230(2024A)· signed
Oil & Gas Production Fees
relates
SB 25-256(2025A)· signed
Funds for Support of Digital Trunked Radio System
relates
HB 26-1362(2026A)· signed
Repeal Decarbonization Tax Credits Administration Fund
relates
HB 24B-1002(2024B)· signed
Primary Residence Real Property Valuation
relates
HB 26-1327(2026A)· failed
Large Employer Worker Health-Care Support
relates
HB 26-1161(2026A)· signed
Department of Local Affairs Supplemental
relates
HB 26-1166(2026A)· signed
Department of Public Safety Supplemental
repeals
SB 25-040(2025A)· signed
Future of Severance Taxes & Water Funding Task Force
repeals
SB 25-264(2025A)· signed
Cash Fund Transfers to the General Fund
repeals
HB 25-1144(2025A)· signed
Repeal Retail Delivery Fees
repeals
SB 25-117(2025A)· signed
Reduce Transportation Costs Imposed by Government
repeals
SB 25-139(2025A)· signed
Grocery & Utility Bill Reduction Measures
repeals
SB 25-317(2025A)· signed
Transfer Cash Fund Investment Earnings to General Fund
repeals
HB 26-1266(2026A)· failed
Repeal Retail Delivery Fees
repeals
HB 26-1405(2026A)· signed
Cash Fund Transfers to General Fund