HomeMy WebLinkAbout20081880.tiff RESOLUTION
RE: STATEMENT OF OPPOSITION TO PROPOSED SEVERANCE TAX INITIATIVE 113
WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to
Colorado statute and the Weld County Home Rule Charter, is vested with the authority of
administering the affairs of Weld County, Colorado, and
WHEREAS, Initiative 113 is scheduled to be on the 2008 General Election ballot for
consideration by Colorado's voters, and
WHEREAS, Initiative 113 would increase the severance tax rate in Colorado, but would
decrease the local share of such revenues from 50 percent to 22 percent by initiating five new
funding targets which will compete for severance tax revenues, and
WHEREAS, Initiative 113 would eliminate a local property tax credit that allows oil and gas
producers to take a credit of up to 87.5 percent of the prior year's property tax liability from their
severance taxes, and
WHEREAS, while Colorado's robust economy is largely due to investment by the oil and
gas industry,the proposed increased severance tax burden on the industry will make Colorado less
competitive in attracting such industry investments in the future, and
WHEREAS, Initiative 113's emphasis on the use of college scholarships instead of providing
direct financial assistance to the institutions will have little effect in reducing the tuition fees at
Colorado's colleges and universities, meaning that little additional revenue will be coming into such
institutions, and
WHEREAS, Initiative 113 would direct the expenditure of funds as detailed in State statute
without going through the traditional legislative appropriations process like other tax revenues,and
WHEREAS, for the above-stated reasons, the Board desires to express its opposition to
Initiative 113.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that it hereby expresses its opposition to Initiative 113 for the reasons set forth
above.
2008-1880
nE ; n &sR emt,/CLJti) BC0038
a7- oZ3 - o2'
RE: STATEMENT OF OPPOSITION TO PROPOSED SEVERANCE TAX INITIATIVE 113
PAGE 2
The above and foregoing Resolution was,on motion duly made and seconded, adopted by
the following vote on the 7th day of July, A.D., 2008.
BOARD OF COUNTY COMMISSIONERS
Ae ���� '''�.,,�` WELD COUNTY, COLORADO
ATTEST: �I �kaGC//��(/f/ // I /,�
liam H. Jerke, Chair
Weld County Clerk to the Bar .� fa" � � \
� '�7.bert B. den, _o-Tem
BY: �dl/L.� ra�.�s / /
Deputy Clerk to the Board alt. sow
ills m F. Garcia
APPROVED : S FO' .
l� David E. Long
nt &ttorney
Dougl s Rademac r
Date of signature: 7 7-op
2008-1880
BC0038
Wade Haerle from Mesa County called 06/29/07 regarding the Weld County Commissioners
passing a resolution in opposition to Innitiative 113. It will be on the statewide ballot from Gov.
Ritter regarding the tax credit for energy production.
The Commissioners will be having a work session before passing this resolution. Once the
resolution is passed, we need to contact Mr. Haerle.
Phone 970-216-8486
whaerle(n>,eis-solutions.net
We need to e-mail him a signed copy when completed.
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