2018 Ballot Issue 2A – Oil and Gas Pollution Tax

Ballot Issue 2A – Oil and Gas Pollution Tax
Read the full text of Resolution 2018-28 approved by City Council

Official Ballot Wording for Issue 2A – OIl and Gas Pollution Tax:
SHALL CITY OF LAFAYETTE TAXES BE INCREASED $0 IN 2019 AND BY WHATEVER AMOUNTS ARE GENERATED ANNUALLY THEREAFTER THROUGH THE LEVY OF AN OIL AND GAS POLLUTION TAX AT THE RATE OF UP TO $6.90 PER BARREL OF OIL AND UP TO $0.88 PER THOUSAND CUBIC FEET OF NATURAL GAS FOR OIL AND GAS EXTRACTED WITHIN THE LAFAYETTE CITY LIMITS FROM NEW OIL WELLS AND GAS WELLS, AND FROM EXISTING OIL WELLS AND GAS WELLS WHOSE EXTRACTION CAPACITY IS SIGNIFICANTLY EXPANDED, COMMENCING JANUARY 1, 2019, AND SHALL REVENUE FROM THE TAX BE USED TO FUND COSTS ASSOCIATED WITH OIL AND GAS EXTRACTION IN THE CITY OF LAFAYETTE AND WITH THE REMAINDER USED BY THE GENERAL FUND, AND SHALL THE CITY BE PERMITTED TO COLLECT, RETAIN AND EXPEND ALL REVENUES DERIVED FROM SUCH TAX, INCLUDING ANY EARNINGS FROM THE INVESTMENT THEREOF, AS A VOTER APPROVED REVENUE CHANGE, AND AN EXCEPTION TO THE REVENUE AND SPENDING LIMITS OF ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION?