CO SB093

Requires local governments to compensate mineral interest owners if regulations reduce the fair market value of their mineral interests by at least 60 percent, treating such diminution as a taking for public use.

Mandates mineral interest owners notify local governments in writing at least 63 days before undertaking new extraction operations within the jurisdiction.

Establishes a hearing process before a board of commissioners, jury, or district court within 7 days of notice to make a preliminary value determination of the affected mineral interest.

Allows local governments to implement the regulatory restriction if they pay the full preliminary value determination plus owner's reasonable attorney fees and costs within 7 business days after the hearing; failure to pay precludes implementation.

Permits local governments to appeal the preliminary value determination only if they post a bond or deposit the full damage award in escrow in an interest-bearing account.