SENATE BILL 10-025
      
      
      BY SENATOR(S) Whitehead, Brophy, Hodge, Schwartz, White, Boyd,
      Foster, Gibbs, Keller, Kester, Newell, Sandoval, Shaffer B., Tapia,
      Williams;
      also REPRESENTATIVE(S) Baumgardner, Curry, Fischer, Gardner C.,
      McKinley, Frangas, Gerou, Kefalas, Kerr J., King S., Roberts, Ryden, Todd,
      Vigil.
      
      
      Concerning the long-term funding of the water efficiency grant
           program.
       
      
      Be it enacted by the General Assembly of the State of Colorado:
      
           SECTION 1.  37-60-126 (12) (a) (III), (12) (a) (IV), and (12) (c),
      Colorado Revised Statutes, are amended to read:
      
           37-60-126.  Water conservation and drought mitigation planning
      - programs - relationship to state assistance for water facilities -
      guidelines - water efficiency grant program - repeal.  (12) (a) (III)  For
      the 2005-06 through 2010-11 each fiscal years year beginning on or
      after July 1, 2010, the general assembly shall appropriate from the fund
      to the board up to five hundred thousand dollars annually for the purpose
      of providing grants to covered entities, other state and local governmental
      entities, and agencies in accordance with this subsection (12).  Commencing
      July 1, 2008, the general assembly shall also appropriate from the fund to
      the board fifty thousand dollars each fiscal year through 2011-12 to cover
      the costs associated with the administration of the grant program and the
      requirements of section 37-60-124.  Moneys appropriated pursuant to this
      subparagraph (III) shall remain available until expended or until June 30,
      2012 2020, whichever occurs first.
      
           (IV)  Any moneys remaining in the fund on June 30, 2012 2020,
      shall be transferred to the operational account of the severance tax trust
      fund described in section 39-29-109 (2) (b), C.R.S.
      
           (c)  This subsection (12) is repealed, effective July 1, 2012 2020.
      
           SECTION 2.  39-29-109.3 (2) (c) (I) (A) and (2) (c) (III), Colorado
      Revised Statutes, are amended to read:
      
           39-29-109.3.  Operational account of the severance tax trust fund
      - repeal.  (2)  Subject to the requirements of subsections (3) and (4) of this
      section, if the general assembly chooses not to spend up to one hundred
      percent of the moneys in the operational account as specified in subsection
      (1) of this section, the state treasurer shall transfer the following:
      
           (c) (I)  To the water efficiency grant program cash fund created in
      section 37-60-126 (12), C.R.S., for use in accordance with that section, the
      following amounts:
      
           (A)  For the each state fiscal year commencing on or after July 1,
      2008, eight 2012, five hundred fifty thousand dollars.  If, on June 30,
      2008, there is more than one hundred thousand dollars of unobligated
      revenue in the operational account above the reserve required by subsection
      (3) of this section, the state treasurer shall transfer such amounts over one
      hundred thousand dollars, up to a maximum of one million dollars, to the
      water efficiency grant program cash fund on July 1, 2008.
      
           (III)  This paragraph (c) is repealed, effective July 1, 2012 2020.
      
           SECTION 3.  Safety clause.  The general assembly hereby finds,
      determines, and declares that this act is necessary for the immediate
      preservation of the public peace, health, and safety.
      
      
      
      
      ____________________________  ____________________________
      Brandon C. Shaffer                Terrance D. Carroll
      PRESIDENT OF                     SPEAKER OF THE HOUSE
      THE SENATE                         OF REPRESENTATIVES
      
      
      
      
      
      
      ____________________________  ____________________________
      Karen Goldman                          Marilyn Eddins
      SECRETARY OF                 CHIEF CLERK OF THE HOUSE
      THE SENATE                         OF REPRESENTATIVES
      
      
      
      
                  APPROVED________________________________________
      
      
      
      
      
                                    _________________________________________
                                    Bill Ritter, Jr.
                                    GOVERNOR OF THE STATE OF COLORADO