LEG00133

• Bill Number: SB06-179
• Year: 2006
• Title: Concerning additional financial support for water projects.
• Legislation - Doc Type: Other CWCB Related Bills - Passed

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39-29-108. All income derived from the deposit and investment of the
moneys in the severance tax trust fund shall be credited to the severance tax
trust fund. At the end of any fiscal year, all unexpended and unencumbered
moneys in the fund shall remain therein and shall not be credited or
transferred to the general fund or any other fund. All moneys in the fund
shall be subject to appropriation by the general assembly for the following
purposes:

(III) THE WATER SUPPLY RESERVE ACCOUNT. SUBJECT TO THE
MAINTENANCE OF A TWO-YEAR RESERVE PURSUANT TO SUB-SUBPARAGRAPH
(A) OF SUBPARAGRAPH (III) OF PARAGRAPH (c) OFTHIS SUBSECTION (1),ON
OR AFTER JULY 1 OF EACH FISCAL YEAR, THE STATE TREASURER SHALL
TRANSFER TEN MILLION DOLLARS FROM THE OPERATIONAL ACCOUNT OF THE
SEVERANCE TAX TRUST FUND TO THE WATER SUPPLY RESERVE ACCOUNT,
ALSO REFERRED TO IN THIS SUBPARAGRAPH (III) AS THE" ACCOUNT". THE
MONEYS IN THE ACCOUNT ARE HEREBY CONTINUOUSLY APPROPRIATED TO
THE COLORADO WATER CONSERVATION BOARD FOR PURPOSES AUTHORIZED
BY THIS SUBPARAGRAPH (III). ALL INTEREST DERIVED FROM THE
INVESTMENT OF MONEYS IN THE ACCOUNT SHALL BE CREDITED TO THE
ACCOUNT. ANY BALANCE REMAINING IN THE ACCOUNT AT THE END OF ANY
FISCAL YEAR SHALL REMAIN IN THE ACCOUNT; EXCEPT THAT THE
UNENCUMBERED AND UNEXPENDED BALANCE OF THE ACCOUNT SHALL
REVERT ON JUNE 30, 2010, TO THE OPERATIONAL ACCOUNT OF THE
SEVERANCE TAX TRUST FUND. THE BOARD SHALL ALLOCATE MONEYS BY
GRANT OR LOAN FROM THE ACCOUNT ONLY FOR WATER ACTIVITIES
APPROVED BY A ROUNDTABLE PURSUANT TO ARTICLE 75 OF TITLE 37, C.R.S.
THE APPROVING ROUNDTABLE SHALL BE THE ROUNDTABLE FOR THE BASIN
IN WHICH THE PROPOSED WATER DIVERSION OR NONSTRUCTURAL ACTIVITY
WOULD OCCUR. THE BOARD, IN CONSULTATION WITH THE INTERBASIN
COMPACT COMMITTEE CREATED IN SECTION 37-75-105, C.R.S., SHALL
JOINTLY ESTABLISH CRITERIA AND GUIDELINES FOR ALLOCATING MONEYS
FROM THE ACCOUNT. ELIGIBLE WATER ACTIVITIES INCLUDE, BUT ARE
EXPRESSLY NOT LIMITED TO, THE CATEGORIES LISTED IN THIS
SUBPARAGRAPH (III). THE CRITERIA SHALL ENSURE THAT THE ALLOCATIONS
WILL ASSIST IN MEETING THOSE WATER SUPPLY NEEDS IDENTIFIED UNDER
SECTION37-75-1 04 (2) (c), C.R.S., IN A MANNER CONSISTENT WITH SECTION
37-75-102, C.R.S., AND SHALL FACILITATE BOTH STRUCTURAL AND
NONSTRUCTURAL PROJECTS OR METHODS. ELIGIBLE WATER ACTIVITIES
INCLUDE THE FOLLOWING:

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