Colorado’s SB 24-230 establishes a new fee on oil and gas production to fund increased transit service across the state. A production fee will be determined in consulting prevailing resources prices, and the resulting funding will be apportioned as follows:
- 70% to the local transit operations cash fund to be used for expanding local transit service and prioritizing transit improvements in certain communities;
- 10% to the local transit grant program cash fund to be used for providing competitive grants to certain eligible entities for expenses associated with providing public transportation; and
- 20% to the rail funding program cash fund to be used for passenger rail projects and service.