Operational Severance Tax Transfer To Agriculture Value-added
| Type | Bill |
|---|---|
| Session | 2020 Regular Session |
| Subjects |
Concerning the transfer of money from the severance tax operational fund to the agriculture value-added cash fund to be used to promote agricultural energy-related projects.
Bill Summary:
If there is money in the severance tax operational fund (operational fund) after funding core departmental programs and a reserve requirement, then the state treasurer makes transfers to the natural resources and energy grant programs (grant programs). The agriculture value-added cash fund (cash fund), which was used to promote agricultural energy-related projects, was one of these grant programs in prior fiscal years.
The bill recreates the agriculture value-added cash fund as a grant program by requiring the state treasurer to transfer $500,000, or so much as may be available, for the next 9 state fiscal years, from the operational fund to the cash fund to be used to promote agricultural energy-related projects. The transferred money in the cash fund is continuously appropriated to the department of agriculture for allocation to the Colorado agricultural value-added development board for this purpose only.
(Note: This summary applies to this bill as introduced.)
Committees
Related Documents & Information
| Date | Version | Documents |
|---|---|---|
| 03/02/2020 | Introduced |
| Activity | Vote | Documents |
|---|---|---|
| Postpone House Bill 20-1338 indefinitely. | The motion passed on a vote of 11-0. | Vote summary |
| Date | Location | Action |
|---|---|---|
| 05/27/2020 | House | House Committee on Rural Affairs & Agriculture Postpone Indefinitely |
| 03/02/2020 | House | Introduced In House - Assigned to Rural Affairs & Agriculture + Appropriations |