CO SB092

Creates the Agricultural Drought and Climate Resilience Office to provide voluntary technical assistance, nonregulatory programs, and grants to agricultural producers for implementing climate change mitigation and drought adaptation practices, with $500,000 appropriated for agrivoltaics grants in fiscal year 2023-24.

Prioritizes grant awards for new and ongoing agrivoltaic demonstration and research projects that study combining solar energy generation with agricultural activities while minimizing environmental impacts on soil health, native vegetation, wildlife, and ecosystems.

Directs the Commissioner of Agriculture to conduct a study on greenhouse gas reduction and carbon sequestration opportunities in agriculture, including soil health practices, dry digesters, and potential certified offset programs, with progress reports due October 1, 2024, and final report by October 1, 2025.

Authorizes the Colorado Water Conservation Board to study floatovoltaics on irrigation canals and reservoirs to reduce water evaporation and lower temperatures while protecting instream flows and water rights, with findings due January 1, 2025.

Exempts agrivoltaic solar energy equipment from property tax from January 1, 2024, through January 1, 2029, if it incorporates novel designs like elevated panels, translucent materials, or extended spacing that significantly expand agricultural potential and minimize environmental impacts.