Tipton’s Education and Energy Act Clears Natural Resources Committee
WASHINGTON, D.C. – Today, the House Natural Resources Committee advanced Congressman Scott Tipton’s (CO-03) legislation to help states support public education through the responsible development of energy resources. The Education and Energy Act (H.R. 5859) will now move to the House Floor for consideration.
“The Education and Energy Act is a win-win for the nation,” said Tipton. “We can responsibly develop energy to ensure a sustainable funding stream for public education in our state, all while opening the door for good paying jobs and low energy prices.”
“Property taxes continue to be the largest source of funding for the public school system, so in rural counties in my district, where a majority of land is owned by the federal government and therefore not taxable, education budgets are tight,” continued Tipton. “The Education and Energy Act would fix this disparity by sending more of the federal revenues back to the county from which the royalties were derived.”
To watch Tipton’s full opening statement, click here.
H.R. 5859 would dedicate more of the federal share of mineral and geothermal lease royalties back to the states to support public education. The legislation, as amended during the Natural Resources markup, would send 33 percent of the federal portion of new mineral and geothermal revenues to the county in which the royalties were generated, and 17 percent would be split equally between all 50 states.
The bill would only apply to new leases and revenues that exceed the Congressional Budget Office’s estimated revenue for the leases in the prior fiscal year.
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