CO SB038

Expands conservancy districts' authority to conserve, develop, and dispose of water for commercial uses in addition to existing agricultural, municipal, and industrial purposes.

Authorizes conservancy district boards to submit and participate in plans for augmentation affecting water rights and wells both within and outside district boundaries.

Permits conservancy districts to contract with water users inside and outside their boundaries for services including water transfers, recharging, augmentation, and well retirement.

Allows conservancy districts to establish water activity enterprises as government-run businesses that can issue revenue bonds and are exempt from Colorado's Taxpayer's Bill of Rights if they receive less than 10% of annual revenues from state and local government grants.

Enables conservancy districts to enter into long-term contracts up to 75 years with public and private entities for district functions and to seek aid and cooperation from federal, state, and local governments.