The Colorado House State, Veterans & Military Affairs Committee on Monday killed a proposal to spur new oil and gas drilling that offered a two-year holiday from severance taxes for wells drilled in the next two years.
The 7-4 vote was along party lines.
Had it passed, when the tax holiday expired, the proposal, from state Rep. Ray Scott, R-Grand Junction, would have used an estimated $76 million a year in revenue from wells drilled during that two-year time frame to fund the College Opportunity…
The Colorado House State, Veterans & Military Affairs Committee on Monday killed a proposal to spur new oil and gas drilling that offered a two-year holiday from severance taxes for wells drilled in the next two years.
The 7-4 vote was along party lines.
Had it passed, when the tax holiday expired, the proposal, from state Rep. Ray Scott, R-Grand Junction, would have used an estimated $76 million a year in revenue from wells drilled during that two-year time frame to fund the College Opportunity…