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Second Regular Session
Seventy-fifth General Assembly
STATE OF COLORADO
REENGROSSED
This Version Includes All Amendments
Adopted in the House of Introduction
LLS NO. 26-0990.01 Pierce Lively x2059 HOUSE BILL 26-1387
House Committees Senate Committees
Appropriations
A BILL FOR AN ACT
CONCERNING THE EXPENDITURE OF MONEY FROM THE SEVERANCE TAX101
TRUST FUND, AND, IN CONNECTION THEREWITH, ALLOWING THE102
STATE TREASURER TO TRANSFER MONEY FROM THE SEVERANCE103
TAX PERPETUAL BASE FUND TO THE SPECIES CONSERVATION104
TRUST FUND, ESTABLISHING AN ANNUAL TRANSFER FROM THE105
SEVERANCE TAX OPERATIONAL FUND TO THE GENERAL FUND ,106
AND REDUCING AN APPROPRIATION.107
Bill Summary
(Note: This summary applies to this bill as introduced and does
not reflect any amendments that may be subsequently adopted. If this bill
passes third reading in the house of introduction, a bill summary that
applies to the reengrossed version of this bill will be available at
http://leg.colorado.gov.)
HOUSE
3rd Reading Unamended
April 11, 2026
HOUSE
Amended 2nd Reading
April 9, 2026
HOUSE SPONSORSHIP
Brown and Taggart, Sirota,
SENATE SPONSORSHIP
Bridges and Kirkmeyer, Amabile
Shading denotes HOUSE amendment. Double underlining denotes SENATE amendment.
Capital letters or bold & italic numbers indicate new material to be added to existing law.
Dashes through the words or numbers indicate deletions from existing law.
Joint Budget Committee. Section 2 of the bill allows the
Colorado water conservation board to direct the state treasurer to transfer
money from the severance tax perpetual base fund to the species
conservation trust fund. Section 1 allows the species conservation trust
fund to receive money that the state treasurer transfers to the fund from
the severance tax perpetual base fund.
Section 3 directs the state treasurer to, beginning on June 30, 2027,
annually transfer the lesser of $14.2 million or the difference between the
amount of severance tax revenue projected to be deposited in the
operational fund in the current fiscal year and the amount appropriated
from the operational fund for certain programs in the same fiscal year.
Be it enacted by the General Assembly of the State of Colorado:1
SECTION 1. In Colorado Revised Statutes, 24-33-111, amend2
(2)(a)(I)(A) as follows:3
24-33-111. Conservation of native species - fund created -4
repeal.5
(2) Species conservation trust fund - creation.6
(a) (I) (A) There is created in the state treasury the species7
conservation trust fund, which is subject to annual authorization by the8
general assembly to carry out the purposes of this section. The fund9
consists of all money transferred by the treasurer as specified in10
subsection (2)(a)(I)(B) of this section AND SECTION 39-29-10911
(2)(a)(II.5)(E) and all money appropriated to the fund pursuant to section12
39-29-109.3 (1)(g)(I). At the end of any fiscal year, all unexpended13
money in the f und remains in the fund and shall not be credited or14
transferred to the general fund or any other fund. To the maximum extent15
practical, only interest from the fund shall be expended for activities16
pursuant to this section.17
SECTION 2. In Colorado Revised Statutes, 39-29-109, amend18
(2)(a)(II.5)(B) and (2)(a)(II.5)(C); and add (2)(a)(II.5)(E) as follows:19
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39-29-109. Severance tax trust fund - created - administration1
- distribution of money - legislative declaration - repeal.2
(2) State severance tax receipts must be credited to the severance3
tax trust fund as provided in section 39-29-108. All income derived from4
the deposit and investment of the money in the fund must be credited to5
the fund. At the end of any fiscal year, all unexpended and unencumbered6
money in the fund remains in the fund and must not be credited or7
transferred to the general fund or any other fund. All money in the fund8
is subject to appropriation by the general assembly for the following9
purposes:10
(a) The severance tax perpetual base fund.11
(II.5) The board shall use the money in the fund:12
(B) To direct the state treasurer to transfer amounts to the water13
supply reserve fund created in subsection (2)(c) of this section; and14
(C) To direct the state treasurer to transfer amounts to the15
interbasin compact committee operation fund created in section16
37-75-107; AND17
(E) TO DIRECT THE STATE TREASURER TO ANNUALLY TRANSFER NO18
MORE THAN THREE MILLION DOLLARS TO THE SPECIES CONSERVATION19
TRUST FUND CREATED IN SECTION 24-33-111 (2)(a)(I).20
SECTION 3. In Colorado Revised Statutes, 39-29-109.3, amend21
(1) introductory portion; and add (13) as follows:22
39-29-109.3. Severance tax operational fund - core reserve -23
grant program reserve - definitions - repeal.24
(1) The executive director of the department of natural resources25
shall submit with the department's budget request for each fiscal year a26
list and description of the programs the executive director recommends27
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to be funded from the severance tax operational fund created in section1
39-29-109 (2)(b), referred to in this section as the "operational fund".2
Except as otherwise provided in subsections (10), and (11), (12), AND3
(13) of this section, the general assembly may appropriate money from4
the total money available in the operational fund to fund recommended5
programs as follows:6
(13) (a) B EGINNING IN APRIL 2027, AND EVERY APRIL7
THEREAFTER, THE EXECUTIVE DIRECTOR OF THE DEPARTMENT OF NATURAL8
RESOURCES SHALL DETERMINE AN AMOUNT EQUAL TO THE DIFFERENCE OF:9
(I) THE AMOUNT PROJECTED BY THE MARCH REVENUE FORECAST10
RELIED ON BY THE GENERAL ASSEMBLY IN SETTING THE STATE BUDGET11
FOR THE NEXT STATE FISCAL YEAR AS THE AMOUNT OF TOTAL STATE12
SEVERANCE TAX RECEIPTS THAT THE STATE TREASURER WILL TRANSFER13
TO THE OPERATIONAL FUND FOR THE CURRENT STATE FISCAL YEAR; AND14
(II) THE AMOUNT APPROPRIATED BY THE GENERAL ASSEMBLY FOR15
THE PROGRAMS DESCRIBED IN SUBSECTION (1)(a) THROUGH (1)(g) OF THIS16
SECTION IN THE CURRENT YEAR.17
(b) BEGINNING IN APRIL 2027, AND EVERY APRIL THEREAFTER,18
AFTER MAKING THE DETERMINATION PURSUANT TO SUBSECTION (13)(a) OF19
THIS SECTION , THE EXECUTIVE DIRECTOR OF THE DEPARTMENT OF20
NATURAL RESOURCES SHALL REPORT AN AMOUNT EQUAL TO THE GREATER21
OF ZERO OR THE AMOUNT DETERMINED BY THE EXECUTIVE DIRECTOR22
PURSUANT TO SUBSECTION (13)(a) OF THIS SECTION.23
(c) ON JUNE 30, 2027, AND EACH JUNE 30 THEREAFTER, THE STATE24
TREASURER SHALL TRANSFER FROM THE OPERATIONAL FUND TO THE25
GENERAL FUND AN AMOUNT EQUAL TO THE LESSER OF FOURTEEN MILLION26
TWO HUNDRED THOUSAND DOLLARS OR THE AMOUNT REPORTED TO THE27
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STATE TREASURER PURSUANT TO SUBSECTION (13)(b) OF THIS SECTION.1
SECTION 4. Appropriation - adjustments to 2026 long bill.2
(1) Except as provided in subsection (2) of this section, the cash funds3
appropriations from the severance tax operational fund created in section4
39-29-109 (2)(b)(I), Colorado Revised Statutes, made in the annual5
general appropriation act for the 2026-27 state fiscal year to the6
department of natural resources for use by the executive director's office7
for the species conservation trust fund is decreased by $3,000,000.8
(2) (a) If the cash fund appropriation from the severance tax9
operational fund created in section 39-29-109 (2)(b)(I), Colorado Revised10
Statutes, made in the annual general appropriation act for the 2026-2711
state fiscal year to the department of natural resources for use by12
executive director's office for the species conservation trust fund is an13
amount less than the amount of the adjustment required in subsection (1)14
of this section, the cash fund appropriation is decreased to $0.15
(b) If the annual general appropriation act for the 2026-27 state16
fiscal year does not include an appropriation to the department of natural17
resources for use by the executive director's office for the species18
conservation trust fund, then subsection (1) does not require a reduction19
of an appropriation in the annual general appropriation act for the20
2026-27 state fiscal year.21
SECTION 5. Effective date. This act takes effect upon passage;22
except that section 4 of this act takes effect only if the annual general23
appropriation act for the 2026-27 state fiscal year becomes law, in which24
case section 4 of this act takes effect upon the effective date of this act or25
of the annual general appropriation act for state fiscal year 2026-27,26
whichever is later.27
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SECTION 6. Safety clause. The general assembly finds,1
determines, and declares that this act is necessary for the immediate2
preservation of the public peace, health, or safety or for appropriations for3
the support and maintenance of the departments of the state and state4
institutions.5
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