Colorado § 39-29-107 Tax on severance of oil shale - repeal

Colorado Statutes

§ 39-29-107 — Tax on severance of oil shale - repeal

Colorado·Title 39 Taxation·Art. Severance Tax

(1)(a) (I) Prior to January 1, 2024, in addition to any other tax, there shall be levied, collected, and paid for each taxable year a tax upon the severance of oil shale as to all such severance occurring on and after January 1, 1978. Such tax shall be levied against every person engaged in the severance of oil shale. Subject to the provisions of subsections (2) and (3) of this section, such tax shall be levied on the gross proceeds from each commercial oil shale facility at a rate of four percent of such gross proceeds.

(II)This subsection (1)(a) is repealed, effective December 31, 2027.

(b)On and after January 1, 2024, in addition to any other tax, there shall be levied, collected, and paid for each taxable year a tax upon the severance of oil shale. Such tax shall be levie

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(1) (a) (I) Prior to January
1, 2024, in addition to any other tax, there shall be levied, collected, and paid for
each taxable year a tax upon the severance of oil shale as to all such severance
occurring on and after January 1, 1978. Such tax shall be levied against every
person engaged in the severance of oil shale. Subject to the provisions of
subsections (2) and (3) of this section, such tax shall be levied on the gross
proceeds from each commercial oil shale facility at a rate of four percent of such
gross proceeds.

(II) This subsection (1)(a) is repealed, effective December 31, 2027.

(b) On and after January 1, 2024, in addition to any other tax, there shall be
levied, collected, and paid for each taxable year a tax upon the severance of oil
shale. Such tax shall be levied against every person engaged in the severance of oil
shale. Such tax shall be levied on the gross proceeds from each commercial oil
shale facility at a rate of four percent of such gross proceeds.

(2) (a) Prior to January 1, 2024, the tax shall only have application to a
commercial oil shale facility one hundred eighty days after the facility commences
commercial production, as follows:

Year Fraction of tax imposed

by subsection (1)

First year 1/4

Second year 1/2

Third year 3/4

Fourth and each succeeding year Entire rate imposed by

subsection (1).

(b) This subsection (2) is repealed, effective December 31, 2027.

(3) (a) Prior to January 1, 2024, the production of the first fifteen thousand
tons per day of oil shale or ten thousand barrels per day of shale oil, whichever is
greater, shall be exempt from the tax.

(b) This subsection (3) is repealed, effective December 31, 2027.

(3.1) (a) Prior to January 1, 2024, the calculation of the daily production
subject to the tax and to the exemption in subsection (3) of this section shall be
determined by dividing the total production of a calendar month by the total
number of days in such month.

(b) This subsection (3.1) is repealed, effective December 31, 2027.

(4) Repealed.

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Legislative History

Source: L. 77: Entire article added, p. 1847, � 1, effective January 1, 1978. L. 82: (2) amended and (3.1) added, p. 576, � 2, effective April 2; (4) repealed, p. 580, � 1, effective July 1. L. 2004: (1) amended, p. 1211, � 97, effective August 4. L. 2023: (1), (2), (3), and (3.1) amended, (HB 23-1121), ch. 35, p. 120, � 4, effective August 7.