Bill > HB1304

This bill authorizes History Colorado, the state historical society, to sell specific mineral rights and nonparticipating royalty interests, referred to as its Weld County rights and West Virginia rights, which it received as donations or through other means. A nonparticipating royalty interest means the owner is entitled to a share of the revenue from extracted minerals but does not have the right to participate in the exploration or production decisions. The bill states that selling these rights is in the best interest of the donors' original intent and is financially beneficial for History Colorado, while also reducing its administrative burdens. The proceeds from any sale must be deposited into the state museum cash fund and used for strategic capital improvements, such as retrofitting its collections care facility and for controlled maintenance. The state controller must approve any sale agreements before they are finalized, and History Colorado will report on the disposition of these rights to the capital development committee.

Military Affairs and Security

https://leg.colorado.gov/bills/HB26-1304