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Bill Seeks to Boost Energy Incentives, Higher Education Funds

by KREX News Room
by Cori Coffin

Story Created: Feb 17, 2013 at 8:29 PM MDT

Story Updated: Feb 17, 2013 at 8:59 PM MDT

DENVER - State Rep. Ray Scott, R-55, is presenting a bill that would encourage the responsible development of the state's energy resources while boosting college funding.

The Energy, Jobs and Higher Eduction Act creates an incentive program that exempts energy developers from paying severance tax on new wells established between July 1, 2013 and July 1 2015.

After the exemption period ends, the bill directs the tax to the College Opportunity Trust Fund indefinitely.

Created by the Colorado Legislature, the fund provides a stipend to eligible undergraduate students.

Scott hopes to introduce his bill later this week.

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Fugg said on Sunday, Feb 17 at 11:27 PM

Increased taxes and free money. Must be trying to gain support from the Democrats.

Floyd said on Monday, Feb 18 at 8:16 AM

The tax is what the oil companys pay, he wants to direct the tax money to the college fund. It's not a tax on the people.

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