DENVER (CBS4) – The House Finance Committee at the state Capitol will take up a bill aimed at a major overhaul of oil and gas regulations in Colorado. Republicans and the industry claim the bill is a de facto ban on oil and gas.

Sponsors for the Senate bill say it will update the state’s antiquated oil and natural gas laws, protect people from residential drilling and give communities more of a voice.

Opponents say the bill would curtail new oil and gas development and eliminate tens of thousands of jobs.

The House will get the bill on Monday afternoon.

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