HB 24-1435

House Bill 24-1435, which has been signed into law in Colorado, allocates over $20 million from various funds for several water-related projects and initiatives. These include satellite monitoring, floodplain map updates, weather modification programs, and drought planning efforts. The bill also provides funding to support specific water management studies and infrastructure projects across the state. This means that starting May 29, 2024, these projects will receive financial support from the Colorado Water Conservation Board (CWCB) to improve water conservation, flood protection, and overall water resource management in Colorado.

Official Summary

The act appropriates the following amounts for the 2024-25 state fiscal year from the Colorado water conservation board (CWCB) construction fund to the CWCB or the division of water resources in the department of natural resources for the following projects: Continuation of the satellite monitoring system, $380,000 (section 1 of the act); Continuation of the floodplain map modernization program, $1,000,000 (section 2); Continuation of the weather modification permitting program, $500,000 (section 3); Continuation of the Colorado Mesonet project, $200,000 (section 5); Continuation of the water forecasting partnership project, $2,000,000 (section 6); Support of modeling and data analyses for the upper Colorado river commission's development of operational guidelines for Lake Powell and Lake Mead, $500,000 (section 7); Support for the division of water resources' statewide diversion telemetry project, $1,827,500 (section 8); Support of a study update and scenario analyses for groundwater resource goals for the southern high plains designated groundwater basin, $250,000 (section 9); and Support for projects that support drought planning and mitigation, $4,000,000 (section 11). Section 4 directs the state treasurer to transfer up to $2,000,000 from the CWCB construction fund to the CWCB litigation fund on July 1, 2024. The CWCB is authorized to make loans from the severance tax perpetual base fund or the CWCB construction fund: In an amount up to $155,650,000 to the Windy Gap firming project (section 12); and In an amount up to $101,000,000 to the northern integrated supply project water activity enterprise owned by the northern Colorado water conservancy district to develop a new regional water supply project (section 13). Section 10 directs the state treasurer to transfer $2,000,000 on July 1, 2024, from the CWCB construction fund to the turf replacement fund to finance the state turf replacement program. Section 14 directs the state treasurer to transfer $20,000,000 on July 1, 2024, from the severance tax perpetual base fund to the CWCB construction fund for the purchase and sale agreement between the Colorado river water conservation district and the public service company of Colorado for the purchase of the water rights associated with the Shoshone power plant. Section 15 appropriates $23,300,000 from the water plan implementation cash fund to the CWCB to fund grants that will help implement the state water plan. Sections 16 and 17 amend current law, under which the state treasurer is directed to make 2 transfers of $2.5 million each from the economic recovery and relief cash fund to the CWCB construction fund. Under current law, the CWCB is required to use the $2.5 million from one of the transfers for the direct and indirect costs of providing assistance to political subdivisions and other entities applying for federal "Infrastructure Investment and Jobs Act" money and other federally available money related to water funding opportunities (water funding purposes). The CWCB is required to use the $2.5 million from the other transfer for issuing grants to political subdivisions of the state or other entities for the hiring of temporary employees, contractors, or both that will assist those political subdivisions and other entities in applying for federal "Infrastructure Investment and Jobs Act" money and other federally available money related to natural resource management (natural resource management purposes). Sections 16 and 17 amend current law by allowing the CWCB, on or after July 1, 2024, to expend money from either of the 2 transfers for either the water funding purposes or the natural resource management purposes. APPROVED by Governor May 29, 2024 EFFECTIVE May 29, 2024(Note: This summary applies to this bill as enacted.)

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