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ANNEX C <br /> ECONOMIC IMPACTS TASK FORCE #7 <br /> SITUATION. Colorado experiences periodic droughts which result <br /> in impacts on the State's economy. As drought conditions escalate <br /> so that their impacts can be identified, there is a need to develop <br /> timely assessments and projections so that an effective response can <br /> be generated. <br /> PURPOSE. The purpose of this annex is to describe the procedures and <br /> organization for economic impact assessment as a part of the overall <br /> State Drought Assessment System. <br /> Concept/Approach. As drought conditions worsen, a Task Force will be <br /> activated to assess economic impacts of the drought. This Task Force <br /> will be comprised of the following agencies: <br /> Office of State Planning and Budgeting <br /> Department of Revenue <br /> Department of Labor and Employment <br /> Department of Agriculture <br /> Department of Social Services <br /> Division of Commerce and Development <br /> Other agencies (such as the Divisions of Insurance, <br /> Banking, Savings and Loans, the State Treasurer, <br /> Colorado Municipal League, etc. as designated by <br /> the Task Force Chairperson. <br /> The Office of State Planning and Budgeting will provide the Task Force <br /> Chairperson. The Task Force, when activated, will meet at the call of <br /> the Chairperson. Using information provided by the Task Force member <br /> agencies, current drought conditions will be reviewed and their effects <br /> on the economy will be assessed. The assessment will be provided to <br /> the Review and Reporting Task Force as well as to the lead response <br /> agencies. <br /> Tasks <br /> - Upon activation, review and update this annex. <br /> - Identify actual and potential economic impacts of drought in <br /> regions of the State identified by the other Task Forces as <br /> those most likely to experience significant impacts. Evaluate <br /> and synthesize this data and provide results to the Review and <br /> Reporting Force as well as to lead response agencies. See <br /> Appendix 1 for a list of possible reports as of May 1981 . <br /> - Identify counties that have or will experience significant additio- <br /> nal social services expenses in making assistance payments to <br /> drought victims. <br /> - Specifically identify significant actual or potential revenue <br /> losses of local and State governments. <br /> r -7 7 <br />