Links

Categories

Recent Comments

Other Blogs

Thu, 18 Sep 2008

Amendment 58

Posted to Politics category

Amendment 58, Gov. Bill Ritter's Smarter Colorado plan, would eliminate an existing property tax-severance tax offset for energy and mining companies and increase the tax on some low-volume wells. The additional revenue would be used for college scholarships, wildlife habitat, renewable energy programs and transportation and water projects in communities affected by energy development.

It's a proposed change in state law, not a constitutional amendment.
Estimated first-year revenue is $290 million, about $157 million for the scholarships.

One side says Colorado has been giving $300 million a year to the oil companies in a tax break.

The other side claims this is a $290 million tax increase.

This site gives a good review on both sides

I think I'll be voting to get rid of the tax break for oil companies. My company doesn't get a tax break so why should any others.

Posted at: 2:53 pm

4 comments

Comments

Re: Amendment 58
Shawn wrote on Thu, 18 Sep 2008 22:32

Your Comment