Ray Scott, Colorado’s State House representative from D55 has introduced a jobs bill that could have a significant impact on both jobs and education in the state. Scott has far-reaching knowledge and experience related to the energy sector in Western Colorado and has made a reputation for himself in the State Assembly as an advocate for jobs creation through the development of Oil and Gas.
Representative Scott’s “Energy, Jobs and Higher Education Act” is designed to address the stubborn problems of unemployment and skyrocketing tuition in Colorado’s colleges and universities in one legislative package. The key component of Representative Scott’s Bill is an “incentive wells program” that will encourage energy sector job creation by providing reasonable tax exemptions to energy developers who drill in Colorado. The “Energy, Jobs and Higher Education Act” gives energy developers two years of relief from having to pay severance taxes on new wells acquired between July 1, 2013 and July 1, 2015. Following the exemption period, severance taxes paid by developers will then be directed to the Colorado College Opportunity Fund for the remainder of the operational lives of wells established during the period of time indicated in the bill.
Representative Ray Scott has high hopes that the bill will receive bi-partisan support, and says in a recent press release, “We’re creating jobs and expanding access to higher education with this bill. It’s a two-fold approach toward creating opportunity and accelerating our state’s economic recovery.”