HB 24-1413: Severance Tax Transfers

• State Treasurer shall transfer $26,086,559 from the severance tax trust fund to the general fund on July 1, 2024, with this provision repealing effective June 30, 2025.

• State Treasurer shall transfer $25 million from the local government severance tax fund to the general fund on July 1, 2024.

• State Treasurer shall transfer $18,259,805 from the severance tax operational fund to the general fund on June 30, 2025, with this provision repealing effective June 30, 2026.

• Conservation district grant fund receives increased funding: up to $450,000 through fiscal year 2023-24 and up to $700,000 for fiscal year 2024-25 and each subsequent year.

• Department of Agriculture receives $250,000 appropriation from the severance tax operational fund for the 2024-25 fiscal year to support the conservation board.