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September 9, 2008
Colorado Renewable Energy Society
Endorses Amendment 58
CRES has endorsed the Smarter Colorado Initiative that will appear
on the November 4 ballot as Amendment 58. If approved by voters, the
initiative will end the property tax exemption for oil and gas
drillers in Colorado. The exemption was established 30 years ago in
order to spur oil and gas industry growth.
Ending this exemption will bring as much as $300 million annually in
order to:
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Provide college scholarships for middle- and lower-income students
(60% of revenues)
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Support communities directly affected by the growing oil and gas
industry, which are mostly on the Western Slope (15%)
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Protect wildlife statewide (15%)
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Build energy efficiency and renewable energy projects (10%)
Amendment 58 is backed by a number of environmental organizations,
Colorado State University Board of Regents, University of Colorado
President Bruce Benson, and Colorado Governor Bill Ritter. It is
opposed by the oil and gas industry, which is raising funds
nationwide to oppose the initiative.
The Smarter Colorado campaign is setting up speakers bureau
trainings and other outreach efforts. Check out the campaign's
website to find out more and get involved.
http://www.asmartercolorado.com
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