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Bill Detail: HB20-1338

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Title Operational Severance Tax Transfer To Agriculture Value-added
Status House Committee on Rural Affairs & Agriculture Postpone Indefinitely (05/27/2020)
Bill Subjects
  • Energy
  • Natural Resources & Environment
House Sponsors J. Arndt (D)
Senate Sponsors K. Donovan (D)
House Committee Rural Affairs and Agriculture
Senate Committee
Date Introduced 03/02/2020
Description

If there is money in the severance tax operational fund (operational
fund) after funding core departmental programs and a reserve
requirement, then the state treasurer makes transfers to the natural

resources and energy grant programs (grant programs). The agriculture
value-added cash fund (cash fund), which was used to promote
agricultural energy-related projects, was one of these grant programs in
prior fiscal years.
The bill recreates the agriculture value-added cash fund as a grant
program by requiring the state treasurer to transfer $500,000, or so much
as may be available, for the next 9 state fiscal years, from the operational
fund to the cash fund to be used to promote agricultural energy-related
projects. The transferred money in the cash fund is continuously
appropriated to the department of agriculture for allocation to the
Colorado agricultural value-added development board for this purpose
only.

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