Colorado Initiative 88 (2008)
From Ballotpedia
Colorado Intiative 88, if approved, would change the severance tax rate on oil and gas, eliminate exemptions for small wells, and eliminate a credit toward the tax for property taxes paid. This ballot measure is a citizen-initiated state statute.
This initiative is a combination of the two separate efforts that previously submitted six similar proposals for the 2008 ballot. Those measures—Initiatives 68, 68, 69, 70, 71, 77, and 78— would also change the severance tax rate on oil and gas, eliminate exemptions for small wells, and eliminate a tax credit for property taxes paid, but the versions submitted by one group wanted the money to go toward higher education, while the other groups proposals dedicated the funds to environmental concerns. This compromise proposal divided the money between both uses.
Contents |
Supporters
Two well-organized coalitions, The Colorado Environmental Coalition and the Donnell-Kay Foundation, an advocate for higher education, had planned separate rfforts to raise the severance tax to raise funds for their causes, but Colorado Gov. Bill Ritter encouraged them to join forces.
"We have an opportunity to get rid of a tax loophole, the only place really in the nation where it gets that tax loophole," said Tony Lewis, executive director with the Donnell-Kay Foundation. "(We can) put those proceeds back as an investment in Colorado."
Both groups said their interests were never competing. "Higher education is a very, very worthy cause to invest in. So is the environment," said Elise Jones, executive director of the Colorado Environmental Coalition. "I think it's a perfect marriage."[1]
Opponents
Colorado's oil and gas industry has called the plan an attack on a business that is currently propping up the state's economy, called the proposal "discriminatory."
"We think the priorities they've identified need to be funded by all the voters, all the taxpayers of Colorado," said Stan Dempsey, president of the Colorado Petroleum Association. "We don't support discriminatory taxes and we don't feel Colorado's higher educational system can be bailed out on the backs of just simply one industry."[1]
Status
The initiative had its ballot title set by the Title Board. Proponents must have their petition form approved before starting circulation.
See also
- Procedures for qualifying an initiative in Colorado
- Laws governing the initiative process in Colorado
- Campaign finance requirements for Colorado ballot measures
- Colorado 2008 ballot measures
- Petition drive deadlines in 2008
- Colorado signature requirements
External links
- Full text of the initiative
- Colorado Environmental Coalition web site
- Colorado Petroleum Association web site
- Donnell-Kay FOundation web site
