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Senate Bill 06 - 179 originally provided $10 million annually for 4 years (total of $40 <br />million) to be invested in water activities and directed the CWCB and the IBCC to jointly <br />develop criteria and guidelines for the alloc ation of monies. In 2007, the general <br />assembly adjusted the cash flow into the Water Supply Reserve Account th r ough House <br />Bill 07 - 1372. This bill extended the program for an additional year, but decreased the <br />annual allocation for 2007 - 08 and 2010 - 11 fis cal years to $6 million. Therefore, the <br />WSRA will provide $42 million over 5 years for investment in water activities approved <br />by the Basin Roundtables. <br /> <br />5.1 Criteria and Guidelines <br />To implement the WSRA, the IBCC and the CWCB formed a joint working grou p to <br />create a set of criteria and guidelines for allocating monies from the WSRA. The Criteria <br />and Guidelines: <br />? <br /> <br />Outline the relative roles of the IBCC, the Basin Roundtables, and the CWCB <br />? <br /> <br />Establish Basin Accounts and a Statewide Account and outline the fun ding and <br />cash management strategy to administer these accounts <br />? <br /> <br />Establish eligibility requirements <br />? <br /> <br />Outline the application process <br />? <br /> <br />Establish 4 Threshold Criteria that must be met to receive funding from either the <br />Basin Accounts or the Statewide Account <br />? <br /> <br />Est ablish Evaluation Criteria that will be used to evaluate the merits of a water <br />activity proposed for funding from the Statewide Account <br /> <br />The IBCC and the CWCB will annually review and revise the Criteria and Guidelines. <br />This is to be done jointly in Octob er of each year. In FY07 - 08, this joint review is <br />anticipated to address: <br />? <br /> <br />The allocation of funds between the Statewide Account and the individual Basin <br />Accounts <br />? <br /> <br />The cash management strategy based on the changes from House Bill 07 - 1372 <br />? <br /> <br />The interpretation of Threshold Criteria #2, which is the water rights protection <br />clause of House Bill 05 - 1177 (C.R.S. 37 - 75 - 102) <br />? <br /> <br />Other issues identified by the CWCB, the IBCC, or the Basin Roundtables <br /> <br />5.2 Continued Implementation of the WSRA <br />In addition to reviewing the Cr iteria and Guidelines, the State, the IBCC, and the Basin <br />Roundtables have identified steps they can each take to improve the implementation of <br />the WSRA. These are outlined in the attached document “ Continued Implementation of <br />the Water Supply Reserve Acc ount .” <br /> <br /> 16 <br />