Colorado § 24-35-115 Mineral audit program

Colorado Statutes

§ 24-35-115 — Mineral audit program

Colorado § 24-35-115

Title 24Government

Art.Department of Revenue

This text of Colorado § 24-35-115 (Mineral audit program) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 24-35-115 (2026).

Text

(1)The purpose of the mineral audit program established by this section is to develop reasonable assurance that all mineral revenues due to the state are received.

(2)The department of revenue shall conduct or cause to be conducted audits of oil, gas, and mineral rents and royalties, the mill levy revenue from oil and gas production under section 34-60-122, C.R.S., and severance taxes accruing to the state from federal, state, and private lands. This auditing shall be conducted by a special unit which shall not have any other duties. The auditing may be conducted through contracts with other state agencies or the federal government. However, a state agency may not contract for an audit of federal mineral revenues unless the federal government pays the cost of any such audit. (

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(1) The purpose of the mineral audit
program established by this section is to develop reasonable assurance that all
mineral revenues due to the state are received.

(2) The department of revenue shall conduct or cause to be conducted
audits of oil, gas, and mineral rents and royalties, the mill levy revenue from oil and
gas production under section 34-60-122, C.R.S., and severance taxes accruing to
the state from federal, state, and private lands. This auditing shall be conducted by
a special unit which shall not have any other duties. The auditing may be conducted
through contracts with other state agencies or the federal government. However, a
state agency may not contract for an audit of federal mineral revenues unless the
federal government pays the cost of any such audit.

(3) The cost of each of the following audits shall be paid by an appropriation
from the general fund: Severance tax revenues, revenues accruing to leases
managed by the state board of land commissioners authorized in section 36-1-113,
and revenues accruing to the energy and carbon management cash fund created in
section 34-60-122 (5). At the end of each fiscal year, beginning with the fiscal year
starting July 1, 1986, the energy and carbon management commission and the state
board of land commissioners shall each repay, from the energy and carbon
management cash fund created by section 34-60-122 (5) and the state land board
trust administration fund created by section 36-1-145 (2)(a), to the general fund the
cost of such audits performed on their respective fund, which reimbursement shall
not exceed the dollar amount of the collections received by each agency from such
audits.

(4) Repealed.

Legislative History

Source: L. 86: Entire section added, p. 936, � 1, effective July 1. L. 2005: (3) amended, p. 734, � 6, effective July 1. L. 2023: (3) amended, (SB 23-285), ch. 235, p. 1253, � 24, effective July 1.