HB21-1260 Summary

• Transfers $15 million from the General Fund to the Water Plan Implementation Cash Fund for the 2020-21 fiscal year, with the Colorado Water Conservation Board required to award all funds by July 1, 2023.

• Transfers $5 million from the General Fund to the Water Supply Reserve Fund, with the board required to award all funds by July 1, 2023.

• Allows the Colorado Water Conservation Board to use up to 5 percent of transferred funds for grant administration purposes.

• Requires grant recipients to provide at least 25 percent matching funds, except the board may award grants in 2021 and 2022 with reduced matching fund requirements to stimulate project funding.

• Both appropriations expire September 1, 2025, with the authorization to transfer funds repealed on that date.