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Local governments in Colorado will receive $37 million in state severance-tax revenue and federal mineral-lease payments this year, a 54 percent drop from 2009, according to information released by the Department of Local Affairs on Wednesday.
The funds are derived from energy and mineral extraction statewide.
The 2009 distribution of $80 million was “unprecedented” because of high commodity prices and the passage of legislation in 2008 that changed the distribution formula, DOLA said Wednesday.
In 2008, $32 million in severance taxes and mineral-lease payments was distributed to Colorado counties, municipalities and school districts.
The Denver Post
