Legislative Update – Colorado to Increase Severance Tax Rate

Colorado Initiative #22 aims to raise severance taxes in Colorado was heard by the Secretary of State title board on February 6. The title board approved the single subject rule and the title was set. Initiative #22 would increase severance taxes in Colorado by $703,900,000 annually through an increase in the severance tax rate by 5% and the removal of the ad valorem tax credit

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