Bill aims to recoup $17 million for Colorado
August 7, 2009
DENVER – Colorado Sens. Mark Udall and Michael Bennet have introduced a bill to correct an oversight they say has cost Colorado about $17 million in federal mineral revenues.
The Democrats said Thursday that the bill would ensure the money goes to the state.
A fund was created to clean up an old oil shale research site on the Roan Plateau in western Colorado. Mineral royalties and fees from energy development on federal land is usually split between the state and federal government, but it went to the fund.
Money in excess of the cleanup costs was supposed to be split evenly between the state and federal government. But Udall and Bennet say Colorado didn’t get its half of the $35.6 million in excess funds because of an oversight in the law.