Governor signs Becker’s measure to continue agricultural energy projects

May 29, 2012

DENVER—Last week, the governor signed House Bill 1334 into law, which continues funding for agricultural energy projects. State Rep. Jon Becker sponsored the measure in the House.

“This new law will help add jobs to our economy and continue to encourage agricultural energy production,” said Becker, a Republican from Fort Morgan. “It’s one more way we’re working for an all-of-the-above energy strategy that will help lead us to energy independence.”

In 2006, the General Assembly approved the annual allocation of $500,000 from the Severance Tax Trust Fund for the promotion of agricultural energy related projects. Becker’s measure extends the annual allocation to fiscal year 2016-2017.

The Severance Tax Trust Fund receives revenue from taxes imposed on producers of gas, oil, coal, metals and molybdenum. Agricultural energy-related projects benefit Colorado’s agriculture industry through projects like biofuel development, biomass conversion, wind or solar energy.

“Colorado is a central hub for energy development,” said Becker, R-Fort Morgan. “Not only is Colorado home to vast traditional energy sources, we also harness the power from wind, solar and agricultural energy sources. This new law helps ensure we continue to do so.”

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