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-" .. " . 1 programs aimed at demonstrating the benefits of water efficiency. The 2 office shall review the applications and make recommendations to the 3 board regarding the awarding and distribution of grants to applicants who 4 satisfy the criteria outlined in this subsection (12) and the guidelines 5 developed pursuant to subsection (7) of this section. 6 (c) This subsection (12) is repealed, effective July 1, ZOOS 2012. 7 SECTION 2. 37-60-126.5 (3) and (4), Colorado Revised Statutes, 8 are amended to read: 9 37-60-126.5. Drought mitigation planning - programs - 10 relationship to state assistance. (3) The board is hereby authorized to 11 EXPEND REVENUES FROM THE WATER EFFICIENCY GRANT PROGRAM CASH 12 FUND AND TO recommend the appropriation and expenditure of such 13 revenues as is necessary from the unobligated balance of the five-percent . 14 share of the operational account of the severance tax trust fund designated 15 for use by the board for the purpose of assisting covered entities and other 16 state and OR local governmental entities to develop drought mitigation 17 plans identified as sufficient by the office. , 18 (4) Dy fuly 1, 2005, The board shall adopt guidelines for the 19 office to use in reviewing, and evaluating, AND APPROVING drought 20 mitigation plans submitted by covered entities OR OTHER STATE OR LOCAL 21 GOVERNMENTAL ENTITIES in accordance with this section. The guidelines 22 shall define the method for submitting plans to the office and shallspccify 23 ho\'\l the. office \'\I ill pIiolitize the distIibution of moneys. 24 SECTION 3. 39-29-109 (1) (c) (III) (B), Colorado Revised 25 Statutes, is amended to read: 26 39-29-109. Severance tax trust fund - created - administration . 27 - use of moneys - definitions - repeal. (1) (c) (III) (B) Notwithstanding -5- SB07-008