CO SB063

Establishes a $100 million cap on severance tax revenue allocation, adjusted annually for inflation beginning July 1, 2013, using the Denver-Boulder-Greeley Consumer Price Index.

Directs revenues above the $100 million cap first to political subdivisions socially or economically impacted by mineral development for serious needs, with requests reviewed by joint committee of House and Senate local government committees by February 15 each year.

Transfers remaining revenues above the cap to a newly created Rural Higher Education Cash Fund for annual appropriation to 13 specified rural institutions on a proportionate basis.

Requires each rural institution to deposit at least 50% of annual appropriations into a separate trust account to build an endowment fund until the total equals at least 100% of the institution's annual operating costs.

Defines eligible institutions as AIMS Community College, Colorado Mountain College, Colorado Northwestern Community College, Front Range Community College, Lamar Community College, Morgan Community College, Northeastern Junior College, Otero Junior College, Trinidad State Junior College, Colorado Mesa University, Adams State College, Fort Lewis College, Western State College of Colorado, and Colorado School of Mines.