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Colorado Amendment 58

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Colorado Amendment 58

Amendment 58 was a proposed initiative on the Colorado ballot of 2008 regarding Colorado's severance tax. It was turned down by 57.9% of the voters.

Contents

Effect

The initiative stated that Amendment 58 would:

  • "increase the amount of state severance taxes paid by oil and natural gas companies, primarily by eliminating an existing state tax credit
  • "allocate the increased severance tax revenue to college scholarships for state residents, wildlife habitat, renewable energy projects, transportation projects in energy-impacted areas, and water treatment grants
  • "exempt all oil and gas severance tax revenue from state and local spending limits.

    • Conflict with Amendment 52

    Both Amendment 58 and 52 regard the handling of Colorado's use of the severance tax. While 58 would pour more money into college scholarships and natural resources, 52 would redirect the money into improving I-70.

    References

    Colorado Amendment 58 Wikipedia
    (Text) CC BY-SA