FOR IMMEDIATE RELEASE
May 7, 2024
Contact:
Josh Valentine, SWEEP | jvalentine@swenergy.org
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[DENVER, CO] – Yesterday, the Colorado legislature adopted Senate Bill 230 (SB230), which will raise approximately $110 million per year for public transit to invest in more frequent and reliable bus and train service in communities across Colorado. This marks the first long-term, dedicated funding source for public transit in Colorado history.
“SB230 unleashes unprecedented financial support for expanding bus and rail service to better serve Coloradans across the state,” said Elise Jones, Executive Director of the Southwest Energy Efficiency Project (SWEEP). “This bill is good news for climate stability, air quality, affordability, and mobility.”
The transit programs will be funded by new fees on oil and gas production, collecting revenue from one of Colorado’s largest pollution sources and using it to support a proven pollution reduction strategy to clean our air and reduce greenhouse gas (GHG) emissions.
Transportation is the largest source of GHG emissions in Colorado, and the sector falling furthest behind in meeting state-legislative GHG reduction targets for 2025 and 2030. According to the state’s GHG Pollution Reduction Roadmap, the state needs to dramatically expand transit service in the coming years to close the gap.
“Coloradans want more affordable and sustainable transportation choices, and SB230 will make public transit a more convenient and reliable option, particularly benefiting low-income and transit-dependent communities,” said Matt Frommer, Senior Transportation Associate at SWEEP. “SB230 complements other bills passed by the Colorado legislature this year to expand housing opportunities and remove costly parking mandates near transit, and build Front Range Passenger Rail. Together, these bills will reduce planet-warming pollution and help people save money on housing and transportation.”
In 2022, Colorado ranked 42nd in the nation in state funding for local and regional transit. SB230 would move it up to 23rd by increasing the state’s share of transit budgets from 1% to nearly 10%. The new transit money will be divided into three funding programs:
- 70% for a local transit operations program to increase bus and rail service through a distribution formula;
- 10% for a local transit competitive grant program for transit operations and capital projects; and
- 15% for rail projects, with priority for the unbuilt Regional Transportation District FasTracks projects.
Additionally, approximately 20% of the $138 million collected annually from the SB230 oil and gas production fees will be used to protect lands and wildlife and create new state parks to offset the negative impacts of oil and gas drilling in Colorado. The bill was the product of negotiations between the conservation community and the oil and gas industry to address air quality while defusing a dangerous ballot initiative threat that could have rolled back the state’s progress on clean energy and climate mitigation.
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The Southwest Energy Efficiency Project (SWEEP) is a public interest organization promoting greater energy efficiency and clean transportation in Arizona, Colorado, Nevada, New Mexico, Utah, and Wyoming. swenergy.org
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