CO SB064

Establishes that Colorado water rights are property rights protected under the U.S. and Colorado constitutions, with value stemming from priority date and amount of water available for diversion.

Declares the right to sell a water right as essential and recognizes water rights as property separate from any interest in land.

Prohibits the U.S. Forest Service and Federal Bureau of Land Management from requiring ownership assignment of water rights, imposing alienability restrictions, or exercising control over water right use and operation as conditions for special use permits or rights-of-way on federal land.

Declares such federal conditions void and unenforceable as against public policy and prohibits state and division engineers from cooperating with or expending funds to enforce or administer these federal conditions.

Takes effect August 5, 2015, unless subject to a referendum petition, in which case it requires approval by voters at the November 2016 general election.