Retain & Spend Severance Tax Revenues For Reserve Fund

Concerning the creation of a reserve that includes state severance tax revenue that is a voter-approved revenue change to the constitutional limitation on state fiscal year spending, and, in connection therewith, creating the severance tax reserve fund; requiring severance tax revenue that exceeds an annual cap to be deposited in the reserve; seeking voter approval to retain and spend the severance tax revenue deposited in the reserve; permitting the general assembly to use money from the reserve if there is insufficient money to pay for programs supported by the severance tax; and requiring any money in the reserve that exceeds a reserve cap to be transferred to the Colorado water conservation board construction fund.