News & Alerts
June 30, 2020 COGCC NOTICES MILL LEVY RULEMAKING
On June 30, 2020, the COGCC filed a Notice of Conservation Levy Rulemaking to raise the current mill levy from 1.1 to the cap of 1.7 mills. The Rulemaking hearing will be held virtually on Tuesday, August 4, 2020. If approved, the effective date of the mill levy will be September 30, 2020. The COGCC’s stated purpose for the Rulemaking is to address current projections for the Oil and Gas Conservation and Environmental Response Fund, which show expenditures to outpace revenues due to the drop in commodity prices, cuts in production, and recent forecasts that show oil and gas severance tax revenues to be significantly lower in FY 2020–21 than anticipated. More information on the COGCC Mill Levy Rulemaking can be found here:
https://drive.google.com/drive/folders/15tSIm8z6p_yFkuMc_GV8IyEs4eFlqTzp