(1) The general assembly hereby finds, determines, and declares that it is committed to making sure that all available funding received from federal mineral leasing and distributed as specified in section 34-63-102 (5.4)(c), C.R.S., is used to alleviate social, economic, and public finance impacts resulting from the development of natural resources in this state, subject to the limitations provided for in the federal act.
The general assembly further finds and declares that the purpose of this legislation isto maximize the long-term benefit of funding derived from federal mineral leasing by authorizing the creation of federal mineral lease districts as funding and service delivery mechanisms, which will, consistent with sound financial practices, result in the greatest use of financial resources for the greatest number of citizens of this state, with priority given to those communities designated as impacted by the development of natural resources covered in the federal act.
The general assembly further finds and declares that federal mineral lease districtsprovide an effective mechanism to expedite the distribution of funding, without the use or increase of ad valorem and other taxes, to those communities designated as impacted by the development of natural resources covered by the federal act.
Source: L. 2011: Entire part added, (HB 11-1218), ch. 169, p. 580, § 1, effective May 9. L. 2012: Entire section amended, (SB 12-031), ch. 84, p. 275, § 1; effective April 6.