CO SB097

Prohibits transfers from five mineral severance funds to the general fund: higher education federal mineral lease revenues fund, higher education maintenance and reserve fund, local government permanent fund, local government mineral impact fund, and local government severance tax fund, effective January 1, 2016.

Restricts the joint budget committee from approving appropriations from mineral severance funds for purposes not currently authorized by law or that do not benefit political subdivisions socially or economically impacted by mineral development and processing.

Prohibits the joint budget committee from proposing legislation to amend these restrictions or transfer money from mineral severance funds to other funds.

Imposes the same limitations on the governor when proposing the annual executive budget, preventing appropriations from mineral severance funds for unauthorized purposes.

Increases direct distributions from the local government severance tax fund from 30% to 60% and decreases grant allocations from 70% to 40%, with grants limited to political subdivisions that received more than $200,000 in prior year direct distributions.