CO SB129

Replaces the word "foster" with "administer" in Colorado Revised Statutes 34-60-102 to clarify the Colorado Oil and Gas Conservation Commission's charge to provide balanced oversight of oil and gas operations

Implements a recommendation approved by 13 of 21 members (62 percent) of the Colorado Oil and Gas Task Force, which was established by Governor Hickenlooper in September 2014

Changes the legislative declaration from "foster the responsible, balanced development" to "administer the responsible, balanced development, production, and utilization" of oil and gas resources while maintaining protection of public health, safety, welfare, and the environment

Affirms the expectation that the commission provide balanced and fair review of oil and gas activities that could be hazardous to public health, safety, or welfare

Includes a safety clause declaring the act necessary for immediate preservation of public peace, health, and safety