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<br />,I <br />" <br /> 6. <br />. <br /> 7. <br /> 8. <br /> <br />Develop implementation plans towards meeting future water supplv needs <br />both for identified proiects and processes and in areas where there are no <br />identified plans to meet future needs. <br />Assess potential new state roles in implementing solutions. <br />Develop requirements for standardized annual M&I water use data reporting. <br /> <br />Based on these findings and recommendations and dialogue among all water interests <br />CWCB identified +!hree broad conclusions were iae!ltifiee: 1) there is a need to help <br />expedite the implementation of water management projects for all water needs; 2) <br />projects and planning processes needed to meet Colorado's future water needs must <br />address transfers and development of water in a manner that meets multiple interests and <br />needs; and 3) there is strong desire for the state to provide financial assistance. <br /> <br />These criteria and guidelines were developed based on information that the Interbasin <br />Compact Committee (IBCe) and CWeB have learned from the SWSI, and the <br />stakeholder feedback obtained during that process, input from the Interbasin Compact <br />Roundtables (IBCRT), and information from other important studies and programs that <br />the CWCB has implemented and administered OVer the years. <br /> <br />. <br /> <br />In 2005, to further the efforts of the SWSI and to address water development needs in <br />Colorado, the Colorado General Assembly passed the "Colorado Water for the 21st <br />Century Act" (House Bill 05-1177) which in part established permanent water <br />roundtables in 8 river basins and the Denver metro area. 1broughout these two efforts <br />there has been a clear recognition of the need for financial assistance to address water <br />challenges in our state. It was recognized that a new program would be needed to assist <br />all water users in addressing their critical water supply issues and interests. This <br />recognition led to the passage of Senate Bill 06-179. <br /> <br />Senate Bill 06-179 adopted by the 2006 General Assembly, created the Water Supply <br />Reserve Account (Account). The legislation directs the State Treasurer to annually <br />transfer ten million dollars from the Operational Account of the Severance Tax Trust <br />Fund to the Account. The effective date of the legislation is July 1,2006. Any balance <br />remaining in the Account at the end of any fiscal year shall remain in the Account; except <br />that the unencmnbered and unexpended balance of the Account shall revert to the <br />Operation Account of the Severance Tax Trust Fund on June 30, 2010. <br /> <br />As specified in the statute, the monies in the Account are continuously appropriated to <br />the CWCB for water activities identified in Section 39-29-108 (III), C.R.S. The <br />legislation states that the CWCB, in consultation with the Interbasin Compact Committee <br />(IBCe) created in Section 37-75-105, C.RS., shall jointly establish criteria and <br />guidelines for allocating moneys by loan or grant from the Account. This docmnent <br />establishes the criteria and guidelines developed jointly by the lBSS and the CWeB <br />which will be used by the CWCB to allocate funds from the Account. <br /> <br />3 <br /> <br />. <br /> <br />Preliminary Draft <br /> <br />July 12,2006 <br />Rev. I Julv 17. 2006 <br />