Ballot Measures

Amendment 74

November 6, 2018 Colorado General Election
Description:

Compensation to Owners for Decreased Property Value Due to State Regulation Initiative

In recent years, there has been increased oil and gas drilling and activity occurring in close proximity to cities and neighborhoods. Cities have tried to limit this activity for health and safety reasons, but have not been allowed to totally restrict or ban drilling within their city limits. The Colorado Oil and Gas Conservation Commission, which regulates this industry, forbids total restriction of drilling within city limits. In order to better control oil and gas activity, advocates for restricting drilling have talked about taking this property, so it is not available for drilling.

Mineral rights are a property right under Colorado law. If a right is taken, there should be consideration of compensation. The process for compensation to property owners is clearly described in the constitution. Many farmers and ranchers have split their rights and they own the surface rights for farming and ranching. Some owners maintain their mineral rights – rights below the surface – and lease these to oil and gas companies. Others have sold the mineral rights to developers, who negotiate with the surface rights owners for access to the property to develop the mineral rights. Usually, there is a fee to the surface owner for access to the property.

Shall there be an amendment to the Colorado constitution requiring the government to award just compensation to owners of private property when a government law or regulation reduces the fair market value of the property?

Pardon the interruption, but …
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