Colorado Legislative Council Staff
STATE
REVISED FISCAL IMPACT
(Replaces Fiscal Note dated February 17, 1998)
TABOR Refund Impact
No State General Fund Impact
Cash Fund Revenue and Expenditure Impact
Drafting Number: Prime Sponsor(s): |
LLS 98-095 Rep. Entz Sen. Bishop |
Date: Bill Status: Fiscal Analyst: |
March 23, 1998 Senate Appropriations Steve Tammeus (866-2756) |
TITLE: CONCERNING THE FUNDING OF COLORADO WATER CONSERVATION BOARD PROJECTS, AND MAKING APPROPRIATIONS IN CONNECTION THEREWITH.
Summary of Legislation
STATE FISCAL IMPACT SUMMARY |
FY 1998/99 |
FY 1999/2000 |
State Revenues General Fund Colorado Water Conservation Board Construction Fund |
Interest Earnings from Loan Account |
|
State Expenditures Colorado Water Conservation Board Construction Fund Colorado Water Conservation Board Construction Fund transfer to Colorado River Recovery Program Loan Account |
$2,871,000 2,000,000 |
|
FTE Position Change |
None |
None |
Local Government Impact — None |
This bill, as amended by the Senate Agriculture Committee (Senate Journal, March 19, 1998, page 505), authorizes the Colorado Water Conservation Board to loan moneys from the Colorado Water Conservation Board Construction Fund to enable the construction of the water resources projects identified in Table 1.
Table 1 - New Loans |
Loan Amount |
Green Ridge Glade Reservoir |
$2,000,000 |
DeWeese Dam Rehabilitation |
734,000 |
North Poudre Irrigation Company |
500,000 |
Idaho Springs Reservoir |
955,000 |
Greeley and Loveland Irrigation Co - Equalizer Dam |
308,000 |
Blue Lake Owners Assoc - Raw Water Irrigation |
900,000 |
City of Ft Morgan - Raw Water Pipeline |
4,000,000 |
Pawnee Creek Flood Control |
550,000 |
Chatfield South Water District |
500,000 |
Riverside Reservoir Spillway Rehabilitation |
450,000 |
Big Windsor Reservoir Pump Station |
925,000 |
Sedgewick Augmentation Reservoir |
1,700,000 |
Total - Water Conservation Board Construction Fund |
$13,522,000 |
The bill authorizes the board to loan moneys from the Severance Tax Trust Fund Perpetual Base Account to enable the construction of water resources projects identified in Table 2.
Table 2 - New Loans |
Loan Amount |
Highland Ditch - Foothills Reservoir Dam |
$1,040,000 |
City of Ft. Morgan - Raw Water Pipeline |
4,000,000 |
Norther Colorado Water Assoc - Wells and Water Rights |
900,000 |
Total - Severance Tax Trust Fund Perpetual Base Account |
$5,940,000 |
The bill authorizes the board to increase the amounts of loans previously authorized for water resources projects identified in Table 3.
Table 3 Loan Increases |
Prior Authority |
Prior Loan Amount |
Increase |
Revised Loan Amount |
Twin Lakes Dam |
SB 87-15 |
$412,500 |
$375,000 |
$787,500 |
Cottonwood Pipeline |
HB 95-1155 |
$750,000 |
172,000 |
922,000 |
Trinidad Project |
SB 97-008 |
500,000 |
500,000 |
1,000,000 |
Total - Water Conservation Board Construction Fund |
$1,662,500 |
$1,047,000 |
$2,709,500 |
The amended bill decreases the amounts of loans previously authorized for water resources projects identified in Table 4.
Table 4 Loan Deauthorizations |
Prior Authority |
Prior Loan Amount |
Decrease |
Revised Loan Amount |
Dolores Project |
HB 83-1102 |
$5,617,392 |
$5,617,392 |
$0 |
Rio Grande Water District |
SB 87-15 |
250,000 |
250,000 |
0 |
Oak Creek - Sheriff Reservoir |
SB 87-15 |
300,000 |
300,000 |
0 |
Wadley Farms Homeowners |
SB 96-153 |
500,000 |
500,000 |
0 |
Cedar Mesa Ditch Co |
SB 94-029 |
10,500 |
10,500 |
0 |
Lateral 35 Assoc |
SB 94-029 |
35,000 |
35,000 |
0 |
City of Walsenberg - Martin Lake |
SB 94-029 |
86,000 |
86,000 |
0 |
Goodhue Ditch and Reservoir |
HB 95-1155 |
19,000 |
19,000 |
0 |
Total - Water Conservation Board Construction Fund |
$6,817,892 |
$6,817,892 |
$0 |
The amended bill appropriates moneys from the Colorado Water Conservation Board Construction Fund to the Department of Natural Resources for FY 1998-99 for the water resources projects identified in Table 5.
Table 5 Water Resources Projects |
FY 1998-99 Appropriation |
Rio Grande Compact Decision Support System - Contractor |
$2,000,000 |
Satellite Monitoring System - Maintenance |
120,000 |
Arkansas River Well Measurement Program |
75,000 |
Chatfield Reservoir Feasibility Study |
500,000 |
South Platte River Multi-objective Plan |
56,000 |
Elk and Yampa River Floodplain Master Plan |
30,000 |
Total Appropriations |
$2,781,000 |
The bill creates the Colorado River Recovery Program Loan Account within the Colorado Water Conservation Board Construction Fund for the purpose of making loans to the Colorado River and San Juan River recovery programs. The bill directs the State Treasurer to transfer $2 million from the construction fund to the loan account. The use of funds in the loan account will be subject to approval by the General Assembly under terms to be established by the General Assembly. The loans will be subject to an interest rate and repayment provisions as determined by the conservation board. Any interest earned on the moneys in the loan account shall be credited to the construction fund.
In addition to the appropriations shown in Table 5, the amended bill appropriates $90,000 from the Water Conservation Board Construction Fund to the Department of Natural Resources for allocation to the Denver Museum of Natural History and the United States Geological Society to drill and core a 2,000 foot research well near Kiowa.
The amended bill authorizes the Water Conservation Board to make a nonreimbursable grant of not more than $1,250,000 from the Fish and Wildlife Resources Account in the Water Conservation Board Construction Fund to participants of the Colorado River Recovery Implementation Program rather than the United States Fish and Wildlife Service for the Grand Valley water management project.
The amended bill authorizes the Water Conservation Board to expend any contributions credited to the Water Conservation Board Construction fund. The amended bill specifies that the appropriation of $4,000,000 from the Severance Tax Trust Fund for FY 1997-98 to the conservation board for the Eagle Park Reservoir Rehabilitation project shall remain available until the project is completed. This bill will become effective upon the signature of the Governor.
The provisions of this bill affect state cash fund revenue and expenditures. Therefore, the bill is assessed as having a fiscal impact.
TABOR Refund Impact
Section 20 of Article X of the Colorado Constitution, limits the maximum annual percentage increase in state fiscal year spending. Once total state revenue from all sources that are not specifically excluded from fiscal year spending exceeds these limits for the fiscal year, the state constitution requires that the excess shall be refunded in the next fiscal year unless voters approve a revenue change as an offset. Based on the current Legislative Council economic forecast, it is projected that the state will be in a TABOR refund position during each of the next five fiscal years. Any increase in state revenue from changes in fees, fines, licenses, or other revenue sources will affect the amount of the state revenue to be refunded.
Spending Authority
This fiscal note would imply the Department of Natural Resources would require a Colorado Water Conservation Board Construction Fund appropriation of $2,871,000 for FY 1998-99 to implement the provisions of this amended bill.
The department would also require a transfer of $2,000,000 from the Colorado Water Conservation Board Construction Fund to the Colorado River Recovery Program Loan Account for FY 1998-99.
Departments Contacted
Natural Resources