d86fd0f1_State_Bill_Colorado___Dossier__1
[0] SB12-063 [2] BROPHY [3] The bill establishes a $100 million cap, as adjusted annually for inflation, on the current allocation of severance tax revenue. Any revenue received above the $100 million cap, as adjusted annually for inflation, is first made available to any political subdivisions socially or economically impacted by the development, processing, or energy conversion of minerals and mineral fuels subject to taxation, but only for a serious need. Such political subdivision must make a grant request at a joint committee hearing of the house local government committee and the senate local government and energy committee, or any successor committees. Whatever moneys remain after the joint committee awards grants to those particular political subdivisions is to be transferred to the rural higher education cash fund and annually appropriated to rural institutions of higher education on a proportionate basis. The bill requires that each rural institution of higher education set aside at least 50% of each annual appropriation in a separate trust account in order to build an endowment fund to be used by the rural institution of higher education. [4] 02/02/2012 Senate Committee on Finance Postpone Indefinitely [5] NOT ON CALENDAR [6] No news items found [1] 
Sev Tax Revenues For Rural Insts Of Higher Ed
State Bill Colorado - Dossier
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