CO SB282

Creates a water court process allowing storage water right owners to dedicate reservoir releases to the Colorado Water Conservation Board for environmental purposes in specified stream reaches between the release point and downstream diversion point

Defines "qualifying releases" as lawfully stored water and "qualifying stream reach" as the natural stream section between reservoir release and downstream diversion or delivery point, regardless of whether the board holds instream flow rights

Requires applicant to prove by preponderance of evidence that the dedication will not expand the original decreed storage right, will not injure existing vested water rights or pending applications with senior priority dates, and the board has determined the releases will preserve or improve the natural environment to a reasonable degree

Prohibits diversion of qualifying releases within the qualifying stream reach through augmentation plans, exchanges, or substitutions, and mandates the Division Engineer administer the releases according to decree terms to protect them

Takes effect August 9, 2017, and applies only to reservoir release dedication applications filed on or after the effective date; subject to referendum petition filed within ninety days after final adjournment