Concerning the expenditure of money from the severance tax trust fund, and, in connection therewith, allowing the state treasurer to transfer money from the severance tax perpetual base fund to the species conservation trust fund, establishi...
Summary
HB26-1387 changes how Colorado uses money in the severance tax trust fund and related accounts. It authorizes the state treasurer, beginning in 2027, to make annual transfers from the severance tax operational fund to the general fund, capped at the lesser of $14.2 million or the amount by which projected severance tax receipts exceed appropriations for certain natural resources programs. The bill also allows up to $3 million annually to be transferred from the severance tax perpetual base fund to the species conservation trust fund, expanding the funding sources available for species conservation work.
The bill further amends the statutes governing the species conservation trust fund and severance tax trust fund to reflect these new transfer authorities. It also reduces a 2026-27 appropriation tied to the species conservation trust fund by $3 million, with adjustments if the underlying appropriation is smaller or absent. The measure takes effect upon passage, with the appropriation adjustment contingent on the 2026-27 long bill becoming law.
Impact
The bill modifies Colorado Revised Statutes sections 24-33-111, 39-29-109, and 39-29-109.3 by creating a new annual transfer mechanism from severance tax operational revenues to the general fund and by adding a new transfer path from the severance tax perpetual base fund to the species conservation trust fund. It affects the distribution of severance tax revenues among state funds, the Department of Natural Resources budget process, and appropriations for species conservation and other natural resources programs. It also reduces a related cash-fund appropriation in the 2026-27 budget, shifting available resources away from that appropriation and into the broader state fiscal structure.
Sentiment
The available context suggests the bill was noncontroversial or at least not heavily contested in the recorded materials. It moved through the Appropriations committees and was ultimately signed by the governor, indicating legislative and executive acceptance. No committee transcripts or recorded votes were provided, so there is no evidence in the supplied record of organized opposition or a divided vote.
Contention
The main policy tension in the bill is between using severance tax revenues for their traditional natural-resources purposes versus diverting a portion to the general fund for broader state budget support. Another possible point of concern is the new authority to transfer money from the severance tax perpetual base fund to the species conservation trust fund, which changes how conservation funding is sourced and may affect long-term fund balances. Any opposition would likely come from stakeholders worried about preserving severance tax dollars for water, conservation, and other natural resource priorities, while supporters would emphasize budget flexibility and continued support for species conservation.