CO SB198

Creates a mineral extraction study group with 10 members of the general assembly (5 from Senate, 5 from House) and 13 stakeholder members representing oil and gas industry, municipalities, counties, environmental organizations, water interests, and state agencies.

Study group must evaluate severance tax structure on oil and gas, available tax credits, severance tax rates in regional states, and trends by commodity including geography, timing, and net state revenues.

Requires evaluation of whether the 1977 legislative intent for severance tax distribution is being met: portion for public purposes, portion in perpetual trust fund, and portion for local governments to offset impacts from resource development.

Study group must assess federal mineral lease revenue distribution models and evaluate how increased state revenue could benefit water infrastructure, education, or other opportunities, making annual legislative recommendations.

Study group members serve without compensation but receive expense reimbursement and per diem for legislative members; original appointments due by June 1, 2014; part repeals effective July 1, 2019.