CO SB091

Requires the federal government to cede or transfer title of all agricultural public lands within Colorado to the state by December 31, 2015, claiming Colorado was promised equal footing with original states under its 1875 enabling act.

Directs the state board of land commissioners to manage transferred lands to produce reasonable and consistent income through protection, sale, exchange, or other disposition.

Allocates 95% of net proceeds from any land sales to the federal government and credits the remaining 5% to a newly created internal improvements trust fund.

Distributes interest and income earned on the trust fund: 50% annually to the state education fund and 50% available for general assembly appropriation to water storage projects recommended by the Colorado Water Conservation Board.

Takes effect 90 days after legislative adjournment, subject to voter approval if a referendum petition is filed within that period.