CO SJM002

Acknowledges that federal government provides billions in subsidies to oil and gas, coal, and renewable energy industries through tax exemptions, credits, loans, and direct funding

Identifies specific tax code provisions subsidizing fossil fuels, including drilling cost deductions (26 U.S.C. § 263), depletion allowances (26 U.S.C. § 613A), and passive loss exceptions (26 U.S.C. § 469)

Notes renewable energy tax credits are temporary and expire (Production Tax Credit expires December 31, 2019; Investment Tax Credit steps down through December 31, 2022), while fossil fuel subsidies are permanent

Requests Congress phase out tax subsidies for oil, gas, and coal industries over five years at a rate matching the phase-out or stepping down of renewable energy subsidies

Directs copies of the memorial be sent to Governor John Hickenlooper and all members of Colorado's congressional delegation