Colorado Petroleum Council testimony to House Finance Committee on Senate Bill 181
Senate Bill 181 could serve as a de facto moratorium on new natural gas and oil development in counties and municipalities across Colorado, as the bill provides no defined timeline in which the rulemakings associated with this section must be completed. Rulemakings of this nature are highly complex and technical and often take many months, if not years. With the uncertainty around just how many permits for new development would be held up within this process, there will inevitably be a significant impact to the tax base paid by the industry on a local and state level, swamping any revenue increases generated by new fees.
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