Summary of 2008 Water Bills

• Title: Water Bills - 2008 Legislative Session
• Date: 6/1/2008
• IBCC - Doc Type: Legislation

04/17/20 08 Senate Committee on Agriculture, Natural Resources & Energy Refer Unamended to
Appropriations
04/23/2008 Senate Committee on Appropriations Pass Amended to Senate Committee of the
Whole
04/25/2008 Senate Second Reading Laid Over
04/28/2008 Senate Second Reading Passed with Amendments
04/29/2008 Senate Third Reading Passed
04/29/2008 Senate Third Reading Passed with Amendments
05/01/2008 House Considered Senate Amendments - Result was to Laid Over Daily05/01/2008
05/02/2008 House Considered Senate Amendme nts - Result was to Laid Over Daily05/02/2008
05/02/2008 House Considered Senate Amendments - Result was to Concur - Repass
05/23/2008 Signed by the President of the Senate
05/28/2008 Signed by the Speaker of the House
05/28/2008 Sent to the Governor

BIL L HB08 - 1369

CONCERNING THE ESTABLISHMENT OF AN INCENTIVE FOR THE DONATION OF
WATER RIGHTS TO THE COLORADO WATER CONSERVATION BOARD FOR USE AS
INSTREAM FL OW RIGHTS.

Short Title:
Incentives For Donation Of Water Rights
Sponsors:
POMMER / GIBBS

For income tax years commencing on or after January 1, 2008, establishes an instream flow
incentive tax credit. Specifies that the Colorado water conservation board will allocate the credits
by issuing credit certificates to owners of water rights who donate those water rights to the board
for use as instream flow rights. Specifies the maximum value of the credit and establishes that
the value of the water rights must be determined by qualified appraisal. Limits the aggregate sum
of credits allocated on an annual basis to a specified amount. Allows the credit to be carried
forward to other income tax years for a maximum of 6 years. Establishes the transferability of
th e credit. Specifies that the credit will not be allowed in a particular income tax year if the
revenue estimate prepared by the staff of the legislative council indicates that the amount of the
total general fund revenues will not be sufficient to maintain the limit on appropriations specified
in statute. Grants the department of revenue rule - making authority. Defines terms.

Status

03/18/2008 Introduced In House - Assigned to Finance
03/18/2008 Introduced In House - Assigned to Finance + Appropriations
04/ 02/2008 House Committee on Finance Refer Amended to Appropriations
04/11/2008 House Committee on Appropriations Pass Unamended to House Committee of the
Whole
04/11/2008 House Second Reading Special Order - Passed with Amendments