Colorado § 24-35-115 - Mineral audit program.
Full text of Colorado Colorado Revised Statutes § 24-35-115 — Mineral audit program., with citation guidance and answers to common questions.
§ 24-35-115. Mineral audit program.
(1) The purpose of the mineral audit program established by this section is to develop reasonable assurance that all mineral revenues due to the state are received.
(2) The department of revenue shall conduct or cause to be conducted audits of oil, gas, and mineral rents and royalties, the mill levy revenue from oil and gas production under section 34-60-122, C.R.S., and severance taxes accruing to the state from federal, state, and private lands. This auditing shall be conducted by a special unit which shall not have any other duties. The auditing may be conducted through contracts with other state agencies or the federal government. However, a state agency may not contract for an audit of federal mineral revenues unless the federal government pays the cost of any such audit.
(3) The cost of each of the following audits shall be paid by an appropriation from the general fund: Severance tax revenues, revenues accruing to leases managed by the state board of land commissioners authorized in section 36-1-113, and revenues accruing to the energy and carbon management cash fund created in section 34-60-122 (5). At the end of each fiscal year, beginning with the fiscal year starting July 1, 1986, the energy and carbon management commission and the state board of land commissioners shall each repay, from the energy and carbon management cash fund created by section 34-60-122 (5) and the state land board trust administration fund created by section 36-1-145 (2)(a), to the general fund the cost of such audits performed on their respective fund, which reimbursement shall not exceed the dollar amount of the collections received by each agency from such audits.
(4) Repealed.
Source: L. 86: Entire section added, p. 936, § 1, effective July 1. L. 2005: (3) amended, p. 734, § 6, effective July 1. L. 2023: (3) amended, (SB 23-285), ch. 235, p. 1253, § 24, effective July 1.
Editor's note: Subsection (4)(b) provided for the repeal of subsection (4), effective July 1, 1989. (See L. 86, p. 936.)
Frequently Asked Questions About Colorado § 24-35-115
What does Colorado Revised Statutes § 24-35-115 cover?
Section 24-35-115 ("Mineral audit program.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 24-35-115?
A common citation format is "Colorado Revised Statutes § 24-35-115" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 24-35-115 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.