Under the bill, local governments could inspect oil and gas operations and impose fines for leaks, spills and emissions. Local governments can also adopt stricter regulations for oil and gas drilling and siting.

The legislation also would mandate that those who hold at least 50 percent of mineral rights interests in a common area (known as forced pooling) must consent to oil and gas drilling.

And the bill would redefine the mission of the Colorado Oil and Gas Conservation Commission to place public health, safety and the environment above fostering or supporting the industry, which is the group’s current mission. The commission’s makeup would change, dropping two industry experts and adding an environmental specialist and a public health expert.

Supporters say the changes are needed to make the energy industry safer and that new regulations will be reasonable. Critics say the measure amounts to a moratorium on oil and gas development across much of the state, hurting Colorado’s economy.

During Thursday’s hearing by the Senate Finance Committee, witnesses addressed the fiscal impact of the legislation. Weld County Commissioner Barbara Kirkmeyer claimed the bill would cause drops in property taxes that fund local schools.

However, Fenberg pointed out that it’s likely only Boulder and Broomfield counties would take advantage of the ability to change local regulations around oil and gas. Counties friendly to oil and gas extraction – Weld County has the largest number of drilling sites in the state – would not have to make any changes to their local regulations, he said.

The bill currently is set for Senate floor work on Tuesday.

Marianne Goodland and Conrad Swanson contributed to this report.