Decarbonization Tax Credits Administration Cash Fund
| Type | Bill |
|---|---|
| Session | 2025 Regular Session |
| Subjects |
Concerning the decarbonization tax credits administration cash fund, and, in connection therewith, requiring that money credited to the fund not exceed the net revenue from the collection of oil and gas severance tax, transferring two million five hundred thousand dollars from the energy and carbon management cash fund to the fund, and transferring two million five hundred thousand dollars from the fund to the energy and carbon management cash fund.
Bill Summary:
For state fiscal years 2023-24 through 2026-27, current law requires the state treasurer to credit to the decarbonization tax credits administration cash fund (fund) oil and gas severance tax revenue equal to the amount attributable to the decreased severance tax credit allowed for oil and gas production for tax years 2024 through 2026. For state fiscal years 2024-25 and 2025-26, section 2 of the act specifies that the amount of oil and gas severance tax revenue credited to the fund shall not exceed the net revenue from the oil and gas severance tax collection.
Section 3 requires the state treasurer to transfer $2,500,000 from the energy and carbon management cash fund to the fund on June 30, 2025.
Section 1 requires the state treasurer to transfer $2,500,000 from the fund to the energy and carbon management cash fund on January 1, 2026.
(Note: This summary applies to this bill as enacted.)
Related Documents & Information
| Activity | Vote | Documents |
|---|---|---|
| Refer Senate Bill 25-307 to the Committee of the Whole. | The motion passed on a vote of 8-3. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Refer Senate Bill 25-307 to the Committee of the Whole. | The motion passed on a vote of 6-1. | Vote summary |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 05/01/2025 | Third Reading | BILL |
43
AYE
20
NO
2
OTHER
|
Vote record |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 04/28/2025 | Third Reading | BILL |
27
AYE
7
NO
1
OTHER
|
Vote record |
| Date | Location | Action |
|---|---|---|
| 06/03/2025 | Governor | Governor Signed |
| 05/13/2025 | House | Signed by the Speaker of the House |
| 05/13/2025 | Senate | Signed by the President of the Senate |
| 05/13/2025 | Governor | Sent to the Governor |
| 05/01/2025 | House | House Third Reading Passed - No Amendments |
| 04/30/2025 | House | House Second Reading Special Order - Passed - No Amendments |
| 04/30/2025 | House | House Committee on Appropriations Refer Unamended to House Committee of the Whole |
| 04/28/2025 | House | Introduced In House - Assigned to Appropriations |
| 04/28/2025 | Senate | Senate Third Reading Passed - No Amendments |
| 04/25/2025 | Senate | Senate Second Reading Special Order - Passed - No Amendments |
| 04/25/2025 | Senate | Senate Committee on Appropriations Refer Unamended to Senate Committee of the Whole |
| 04/23/2025 | Senate | Introduced In Senate - Assigned to Appropriations |
Prime Sponsor
Sponsor
Co-Sponsor
| Effective Date | Chapter # | Title | Documents |
|---|---|---|---|
| 06/03/2025 | 382 | Decarbonization Tax Credits Admin Cash Fund |