CO SB034

Creates a water resources financing enterprise governed by boards from the Colorado Water Resources and Power Development Authority and Colorado Water Conservation Board to provide grants, loans, and technical assistance to water providers

Imposes a fee of 25 cents per 1,000 gallons of drinking water delivered monthly in excess of 4,000 gallons per customer connection, collected by drinking water suppliers and remitted to the enterprise, with suppliers retaining 3.33% as a vendor fee

Enterprise board may annually adjust the fee based on inflation and may reduce fees or increase exemption thresholds for large nonresidential customers and tiered-rate customers to address equity concerns

Financing is available for raw water, drinking water, and wastewater treatment projects including feasibility studies, planning, permitting, and construction of infrastructure and water conservation projects, but excludes maintenance and operation

Requires voter approval at the November 8, 2022 election on whether to create an enterprise to collect $184.5 million in revenue over its first five years for the water resources financing program