CO SB037

Directs the University of Colorado and Colorado State University to conduct a feasibility study by April 1, 2026, on using green infrastructure instead of traditional gray infrastructure to meet state and federal water quality standards.

Requires the feasibility study to examine how environment-focused financing mechanisms including green bonds, mitigation banking, climate finance, and carbon credits can reduce compliance costs and fund green infrastructure projects.

Authorizes the universities to establish up to three pilot projects in Colorado (operable for up to five years) to demonstrate green infrastructure use and alternative compliance programs with approval from the Division.

Mandates the Division submit a report to the Water Resources and Agriculture Review Committee by February 1, 2027, summarizing feasibility study and pilot project progress, including recommendations for legislative or administrative action.

Appropriates $50,651 to the Department of Public Health and Environment for the 2024-25 fiscal year and $15,362 to the Department of Law; the statute expires September 1, 2032.