Transfer From Severance Tax Operations Cash Fund
SB23-250
LAST ACTION: Governor Signed 04/28/2023
Concerning a 2023-24 state fiscal year transfer from the severance tax operational fund to the capital construction fund for use by state-supported institutions of higher education in energy impacted counties, and, in connection therewith, making an appropriation.
SESSION: 2023 Regular Session
SUBJECTS:
State Government
State Revenue & Budget
BILL SUMMARY
On July 1, 2023, the state treasurer is required to transfer $10 million from the severance tax operational fund to the capital construction fund. The money is to be used by state-supported institutions of higher education in energy impacted counties for energy-related programs or projects.
For fiscal year 2023-24, the bill appropriates $6 million to Colorado Mesa university to expand the university's campus-wide geothermal exchange system. For fiscal year 2023-24, the bill appropriates $4 million to Western Colorado university to provide additional teaching and laboratory space for the university's petroleum geology program and to generally allow for the expansion of the natural and environmental sciences department.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)