OPS has sent a notice to DOR to increase the E.R.S. to 100 effective July 1st. What we know is that the Draw of the Colorado PSTF fund has been traditionally less than in years past and that OPS has reduced the surcharge according to the statute. The fund balance has been drawn down and the market has benefited from the reduced draw. The above is a correction authorized by statute that is sustainable.
The notice will be shortly issued by the department of Revenue but I wanted to make people aware of the increase.
As a reminder:
Colorado Revised Statutes
Title 8 - Labor and Industry
Labor I - Department of Labor and Employment
Article 20 - Fuel Products
Part 2 - Fuel Products
§ 8-20-206.5. Environmental response surcharge - liquefied petroleum gas and natural gas inspection fund - definitions
(1) (a) Every first purchaser of odorized liquefied petroleum gas, every manufacturer of fuel products who manufactures such products for sale within Colorado or who ships such products from any point outside of Colorado to a distributor within Colorado, and every distributor who ships such products from any point outside of Colorado to a point within Colorado shall pay to the executive director of the department of revenue, each calendar month, either twenty-five dollars per tank truckload of fuel products delivered during the previous calendar month for sale or use in Colorado or the fee for odorized liquefied petroleum gas and natural gas as specified in paragraph (d) of this subsection (1), whichever is applicable. Such payment shall be made on forms prescribed and furnished by the executive director. The provisions of this section shall not apply to fuel that is especially prepared and sold for use in aircraft or railroad equipment or locomotives.
(b) In the event the available fund balance in the petroleum storage tank fund is greater than twelve million dollars, no surcharge shall be imposed, but if the available fund balance in the fund is less than:
(I) Twelve million dollars, the fee imposed by paragraph (a) of this subsection (1) shall be fifty dollars per tank truckload;
(II) Six million dollars, the fee imposed shall be seventy-five dollars per tank truckload;
(III) Three million dollars, the fee imposed shall be one hundred dollars per tank truckload.
(c) Notwithstanding paragraph (b) of this subsection (1), on and after September 1, 2023, if the available fund balance in the petroleum storage tank fund is greater than eight million dollars, no surcharge shall be imposed, but if the available fund balance in the fund is less than eight million dollars, the fee imposed by paragraph (a) of this subsection (1) is twenty-five dollars per tank truckload.
(d) Notwithstanding paragraph (b) of this subsection (1), the executive director of the department of revenue shall have the authority to determine and adjust a fee for odorized liquefied petroleum gas and natural gas, not to exceed ten dollars per tank truckload for liquefied petroleum gas and liquefied natural gas and per every eight thousand gallon equivalents for compressed natural gas.
(e) (I) There is hereby created the liquefied petroleum gas and natural gas inspection fund within the state treasury. Neither this section nor section 8-20.5-103 shall be construed to make the liquefied petroleum gas and natural gas inspection fund an enterprise fund. Such fund shall consist of:
(A) Liquefied petroleum gas and natural gas inspection moneys collected pursuant to this article;
(B) Civil penalties collected as a result of court actions pursuant to section 8-20-104;
(C) Any moneys appropriated to the fund by the general assembly; and
(D) Any moneys granted to the department from a federal agency or trade association for administration of the department's liquefied petroleum gas and natural gas inspection program.