SB 18-063: Taxpayer Protection from Oil and Gas Costs Act

• Requires oil and gas operators to demonstrate by clear and convincing evidence that financial assurance will cover all reasonably foreseeable expenses including reclamation, spills, leaks, air pollution, explosions, diseases, injuries, and deaths.

• Mandates the Colorado Oil and Gas Conservation Commission calculate total financial assurance by multiplying the number of facilities subject to the application by the projected cost per facility type.

• Requires commission to conduct an up-front financial viability analysis of operators before approving any financial assurance, with operators paying the analysis cost.

• Establishes detailed reclamation plan requirements adapted from hard rock mining standards, including grading, revegetation with native species prioritized, and restoration to appropriate topography for intended land use.

• Requires operators to submit annual anniversary reports documenting existing land disturbances, completed reclamation, anticipated new disturbances, and planned reclamation for the upcoming year, with final reclamation completion required within two years of operation termination.