Committee adopts technical approach to severance‑tax refinance to avoid TABOR impact
Staff described a $2 million TABOR revenue impact from how a severance‑tax refinancing was implemented; the committee adopted a technical amendment approach to spend the money from operations with a long‑bill footnote to preserve policy intent.
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JVC staff explained a technical issue arising from a long‑bill severance‑tax refinance that moved $2,000,000 originally intended for the Species Conservation Trust Fund to a wildlife cash fund in a way that could count toward the TABOR cap. To avoid that TABOR revenue impact, staff proposed spending the funds directly from wildlife operations and attaching a long‑bill footnote declaring the General Assembly’s intent that the money be used for the same purposes as the Species Conservation Trust Fund.
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