SB 18-019

Senate Bill 18-019 allows the Colorado Water Resources and Power Development Authority to offer longer-term loans for water pollution control projects. Currently, these loans are limited to a maximum of 20 years after project completion, but this bill removes that limit so that loan durations can match up to 30 years or the expected lifespan of the project, as determined by federal guidelines. This change will help local communities and entities finance water infrastructure improvements over longer periods without the previous time constraints. The bill has been signed into law, meaning these new rules are now in effect.

Official Summary

Water Resources Review Committee. Pursuant to the federal clean water act and the federal 'Safe Water Drinking Act', the Colorado water resources and power development authority (authority) makes loans under its water pollution control revolving fund and its drinking water revolving fund. Under state law, the duration of any water pollution control loan made by the authority must not exceed 20 years after project completion; however, the federal clean water act now allows for loans up to the lesser of 30 years or the projected useful life of the project, as determined by the state. The bill removes the 20-year limitation on water pollution control loans and authorizes the authority to make loans in compliance with the clean water act and the 'Safe Water Drinking Act'.(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.) , Read More

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