Tipton Fights for Colorado’s Students with Education and Energy Act
WASHINGTON, D.C. – Congressman Scott Tipton (CO-03) reintroduced the Education and Energy Act (H.R. 5859), a bill that will help states support K-12 and public higher education through the responsible development of energy resources.
H.R. 5859, which Tipton last introduced in the 113th Congress, would dedicate more of the federal share of mineral and geothermal lease royalties back to the state in which they were generated to support public education. The bill would apply to new leases and only to revenues that exceed the Congressional Budget Office’s estimated revenue for the leases in the prior fiscal year.
“The teachers’ strikes in Colorado and across the country over recent weeks have reignited the conversation around teacher pay and education resources,” said Tipton. “By directing a greater portion of energy revenues to fund education, we can help bridge some of these gaps and make critical investments in the future of our children.”
Under H.R. 5859, 33 percent of the federal portion of mineral and geothermal revenues would be sent back to the state in which the revenue was generated. Seventeen percent of all federal revenues from new mineral and geothermal leases would be split between all 50 states.
“The Education and Energy Act is a win-win for Colorado,” Tipton added. “We can responsibly develop energy to open the door for more job creation and lower energy costs, and at the same time ensure a sustainable funding stream for public education in our state.”
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