Legislative
Council
March 20, 2008 68LCR7 – Support for Colorado
Higher Education
Energy and Climate Revolving Fund
Sponsored by: Charles
Gilford UCSU Tri-Executive
Hadley
Brown UCSU Tri-Executive
Dustin
Farivar Leg. Council Vice
President
Daniel
Ramos Leg. Council Rep at Large
Veronica
Lingo Leg. Council Senator
Blaine
Pellicore Leg. Council Rep at
Large
Authored by: Amy
C. Harris Sustainability
Director
Support
for Colorado Higher Education Energy and Climate Revolving Fund
_______________________________________________________
Resolution
History
Colorado severance tax is a tax imposed upon nonrenewable
natural resources that are removed from the earth. [§39-29-101,
C.R.S.]. The tax is applied to gross oil and gas income. "Oil"
means crude oil and condensate, and "gas" means natural gas, coalbed methane, and carbon dioxide. Currently there is a
presupposed increase on this tax that would create an additional and enhanced
revenue stream of approximately $200 million dollars to the Colorado General
Fund, for such needs as higher education and toxic waste cleanup.
If it is the case that the
increased revenue from a severance tax is not used for a state-wide energy
efficiency revolving fund, then funding support will be found through another
source.
Modeled after the successful
revolving endowment fund at Harvard University, the money spent in the
potential Colorado public higher education revolving Energy and Climate system
would create energy-saving renovations in older buildings and allow new
construction to meet LEED certification requirements that promote cleaner and
more efficient energy use. Over a period
of seven (7) years, the initial endowment of $3
million dollars at Harvard has grown into a healthy $12 million dollar
revolving fund. This increase represents
a 400% rate of return on initial investment and clearly demonstrates the
effectiveness of such programs. Just
imagine what is possible if all of Colorado’s Higher Education Institutions
were able to make this kind of impact.
Resolution
Summary
A Resolution in support of
the creation of a statewide public higher education Energy and Climate
Revolving Fund.
WHEREAS the
increasing cost of public higher education in Colorado is placing a burden on
all students and families thus reducing the number of Coloradans that can
afford public higher education, and
WHEREAS
public higher education for all Coloradans is a vital and profitable pathway to
enhanced economic development, a more skilled workforce, greater quality of
life for Colorado citizens, and reduced taxes due to enhanced economic
activity, and
WHEREAS a significant
burden on public higher education is the rapidly increasing costs of energy
that diverts financial resources from educational activities and their
attendant benefits, and
WHEREAS the
Chancellor of the University of Colorado at Boulder has agreed to put his full
political support behind the creation of this fund, and
WHEREAS one
of the highest priorities of the President of the University of Colorado is to
reduce the cost of higher education, and
WHEREAS
Governor Ritter has by Executive Order challenged all state agencies including
public higher education to accomplish a 20% reduction in total energy
consumption by the year 2012, and
WHEREAS
Governor Ritter is working with many interested parties to craft a statewide
ballot question to be placed on the November 2008 Colorado ballot that will
determine where the extra revenue generated by the severance tax will be
directed, and
WHEREAS the
energy conservation measures thus accomplished by a statewide higher education
Energy and Climate revolving fund will also have a significantly positive
effect on Colorado’s environment by reducing the emission of greenhouse gases
associated with energy and their debilitating effect on Colorado’s environment
and public health, and
WHEREAS the
students of the University of Colorado at Boulder were the nation’s first such
body to pledge to support the national campaign to plan for campus carbon
neutrality and have created a $500,000 Energy and Climate Revolving Fund for
energy conservation and climate action projects in student managed buildings on
the Boulder campus, and
WHEREAS
the support of UCSU and students across the state is necessary for higher
education and sustainability to prominent parts of the severance tax
distribution, then;
THEREFORE BE
IT RESOLVED: That the students of the University of Colorado at Boulder and the
University of Colorado Student Union (UCSU) support the use of a portion of the
statewide severance tax revenue to reduce the cost of higher education through
the creation and implementation of a statewide public higher education
revolving Energy and Climate fund to be utilized by all public state-level
higher education institutions.
Section
1: This resolution will also support the creation and implementation of a
statewide public higher education revolving Energy and Climate fund that is
funded through a source other than the increased revenue from state severance
taxes, if it is the case that those taxes do not support the creation of such a
fund. One other potential funding
sources includes, but is not limited to: the Office of the President of the
University of Colorado.
Section2: This resolution shall be made available to
local media sources, CU administration and state leaders, and;
Section
3: This resolution shall take effect upon passage by the Legislative Council
and upon either obtaining the signatures of two Tri-Executives or the elapse of
six days without action by the Tri-Executives.
Vote
Count
3/20/08 Passed Acclamation
4/03/08 Amended & passed Acclamation____
________________________
_______________________
Boyce Postma Hadley Brown
Legislative
Council President Tri-Executive
_______________________ _______________________
Charles
Gilford III Sarah Divine
Tri-Executive Tri-Executive