Second Regular Session
Seventy-third General Assembly
STATE OF COLORADO
INTRODUCED
LLS NO. 22-1027.01 Jery Payne x2157
HOUSE BILL 22-1381
House Committees Senate Committees
Energy & Environment
A BILL FOR AN ACT
C
ONCERNING THE CREATION OF A GEOTHERMAL ENERGY GRANT101
PROGRAM TO FACILITATE THE DEVELOPMENT OF GEOTHERMAL102
ENERGY RESOURCES .103
Bill Summary
(Note: This summary applies to this bill as introduced and does
not reflect any amendments that may be subsequently adopted. If this bill
passes third reading in the house of introduction, a bill summary that
applies to the reengrossed version of this bill will be available at
http://leg.colorado.gov
.)
The bill creates the geothermal energy grant program (grant
program) in the Colorado energy office (office) within the office of the
governor. The grant program offers 3 types of grants:
! The single-structure geothermal grant, which is awarded to
applicants that are constructing new buildings and that are
HOUSE SPONSORSHIP
Titone and McKean, Soper
SENATE SPONSORSHIP
Winter,
Shading denotes HOUSE amendment. Double underlining denotes SENATE amendment.
Capital letters or bold & italic numbers indicate new material to be added to existing statute.
Dashes through the words indicate deletions from existing statute. installing a geothermal system as the primary heating
system for the building;
! The community district heating grant, which is awarded to
support ground-source, water-source, or multisource
thermal systems that serve more than one building; and
! The geothermal electricity generation grant, which is
awarded to support the development of geothermal
electricity generation and hydrogen generation produced
from geothermal energy.
The bill sets qualifications, limits, and standards for awarding the grants.
A grantee is prohibited from using the money for any purpose not
specified in statute or in the grant application. Using the grant money for
another purpose subjects the grantee to a civil action seeking repayment.
The bill creates the geothermal energy grant fund (fund).The grant
money in the fund is allocated in the following percentages:
! Up to 40% of the total money in the fund may be awarded
in grants for cost-matching public-private partnerships to
support the development of geothermal electricity
generation and resource development, which may include
hydrogen generation produced from geothermal energy;
! Up to 60% of the total money in the fund may be awarded
in grants for constructing new buildings and remodeling
existing buildings using geothermal heating, and one-fourth
of the money must be awarded to eligible entities from or
projects in low-income, disproportionately impacted, or just
transition communities; and
! Up to 25% of the total money in the fund may be awarded
in grants to support the development of district heating
systems in new construction or to retrofit existing
buildings.
The money in the fund is continuously appropriated to implement
the grant program. The state treasurer will transfer $20 million from the
general fund to the fund.
The office administers the grant program and, in doing so, must
develop and apply criteria for evaluating and awarding grant applications
that:
! Prioritize projects in low-income, disproportionately
impacted, or just transition communities; and
! Maximize the number of additional projects that would
otherwise not occur without grant money.
Each grantee must submit an annual report to the office for 2 years
following receipt of a grant award. By February 1, 2024, and each year
thereafter, the office must submit a report to the transportation and energy
committee of the senate and the energy and environment committee of the
house of representatives. The report must include:
HB22-1381
-2- ! The grant expenditures;
! The percentage of each type of grant awarded;
! The total amount of matching funds that grantees provided
to receive a grant;
! The percentage of grants awarded to and for projects in
low-income, disproportionately impacted, or just transition
communities; and
! To the extent available, the effects of the grants on gas use,
electricity use, emissions, and energy costs.
Be it enacted by the General Assembly of the State of Colorado:1
SECTION 1. In Colorado Revised Statutes, add 24-38.5-113 as2
follows:3
24-38.5-113. Geothermal energy grant program - creation -4
procedures - fund - report - definitions - repeal. (1) Legislative5
declaration. T
HE GENERAL ASSEMBLY HEREBY FINDS AND DECLARES6
THAT:7
(a) T
HE DEVELOPMENT OF GEOTHERMAL ENERGY RESOURCES IS AN8
AVAILABLE AND PROMISING TECHNOLOGY IN THE TRANSITION FROM FOSSIL9
FUELS TO RENEWABLE ENERGY ;10
(b) T
HE DEVELOPMENT OF GEOTHERMAL ENERGY RESOURCES ,11
INCLUDING FOR HEATING, COOLING, AND ELECTRICITY GENERATION, HAS12
THE POTENTIAL TO CREATE JOBS AND HELP ADDRESS MOBILITY FOR13
WORKERS IN ENERGY PRODUCTION AND TRANSMISSION , ESPECIALLY IN14
PIPELINE-RELATED WORK;15
(c) B
UILDING NEW GEOTHERMAL SYSTEMS IN HOMES AND16
BUSINESSES WILL PROVIDE A STABLE, PREDICTABLE COST TO CONSUMERS;17
(d) S
TATE INVESTMENT IS IMPORTANT TO SUPPORT PUBLIC18
AGENCIES IN ENCOURAGING INVESTMENT IN GEOTHERMAL ENERGY FOR19
HOMES, BUILDINGS, AND ENERGY PRODUCTION;20
HB22-1381-3- (e) GEOTHERMAL ELECTRICITY GENERATION CAN PROVIDE1
OPPORTUNITIES FOR ZERO -POLLUTION, RENEWABLE ELECTRICITY2
GENERATION THAT IS NOT INTERMITTENT , INCREASING BASELOAD3
RELIABILITY FOR THE ELECTRIC GRID; AND4
(f) G
EOTHERMAL ELECTRICITY GENERATION MAY BE PAIRED WITH5
ELECTROLYZERS TO GENERATE HYDROGEN FROM WATER , PROVIDING6
ADDITIONAL ECONOMIC OPPORTUNITIES AND ZERO -POLLUTION FUELS.7
(2) A
S USED IN THIS SECTION, UNLESS THE CONTEXT OTHERWISE8
REQUIRES:9
(a) "F
UND" MEANS THE GEOTHERMAL ENERGY GRANT FUND10
CREATED IN SUBSECTION (7) OF THIS SECTION.11
(b) "G
RANT PROGRAM" MEANS THE GEOTHERMAL ENERGY GRANT12
PROGRAM CREATED IN SUBSECTION (3) OF THIS SECTION.13
(c) "O
FFICE" MEANS THE COLORADO ENERGY OFFICE.14
(3) Creation of grant program. T
HERE IS HEREBY CREATED15
WITHIN THE OFFICE THE GEOTHERMAL ENERGY GRANT PROGRAM TO16
PROVIDE GRANTS TO BUILDING OWNERS , DEVELOPERS, LOCAL17
GOVERNMENTS, GEOTHERMAL INSTALLERS, CONTRACTORS, COMMUNITIES,18
GAS OR ELECTRIC SERVICE PUBLIC UTILITIES , OR OTHER ENTITIES19
APPROVED BY THE OFFICE FOR:20
(a) T
HE DEVELOPMENT OF GEOTHERMAL ELECTRICITY21
GENERATION;22
(b) T
HE INSTALLATION OF GEOTHERMAL EQUIPMENT FOR USE AS23
THE PRIMARY HEATING OR COOLING SYSTEMS IN NEW CONSTRUCTION OR24
TO RETROFIT EXISTING BUILDINGS; OR25
(c) T
HE DEVELOPMENT OF COMMUNITY THERMAL SYSTEMS THAT26
ARE USED IN NEW CONSTRUCTION OR TO RETROFIT EXISTING BUILDINGS .27
HB22-1381
-4- (4) Grants - limitations - qualifications. T HE GRANT PROGRAM1
CONSISTS OF THREE TYPES OF GRANTS:2
(a) T
HE SINGLE-STRUCTURE GEOTHERMAL GRANT , WHICH IS3
AWARDED TO APPLICANTS THAT ARE CONSTRUCTING A NEW BUILDING ,4
INCLUDING A SINGLE-FAMILY OR MULTIFAMILY RESIDENCE, AND THAT ARE5
INSTALLING A GEOTHERMAL SYSTEM FOR USE AS THE PRIMARY HEATING6
AND COOLING SYSTEM FOR THE BUILDING . A SINGLE-STRUCTURE7
GEOTHERMAL GRANT IS SUBJECT TO THE FOLLOWING LIMITATIONS AND8
QUALIFICATIONS:9
(I) A
DEVELOPER OR GEOTHERMAL INSTALLER IS ELIGIBLE FOR10
GRANTS FOR THE CONSTRUCTION OF NO MORE THAN ONE HUNDRED11
RESIDENTIAL BUILDINGS;12
(II) C
OMMERCIAL BUILDINGS AND STATE AND LOCAL GOVERNMENT13
BUILDINGS THAT ARE CONSTRUCTED USING GRANT MONEY MUST MEET THE14
STANDARDS OF THE 2021 INTERNATIONAL ENERGY CONSERVATION CODE;15
(III) D
EVELOPERS, GEOTHERMAL INSTALLERS , OR COMMERCIAL16
BUILDING OWNERS THAT APPLY FOR A GRANT MUST ATTEST THAT THEY17
WILL USE LICENSED PLUMBING OR MECHANICAL CONTRACTORS THAT HAVE18
AN APPRENTICESHIP PROGRAM , AS DEFINED IN SECTION 8-83-308 (3)(a);19
(IV) T
HE OFFICE SHALL DETERMINE THE AMOUNT OF EACH GRANT20
BASED ON PER-TON HEATING CAPACITY AS FOLLOWS ; EXCEPT THAT THE21
OFFICE MAY CHANGE A GRANT AWARD AMOUNT AFTER THE FIRST YEAR IF22
THE OFFICE DETERMINES THAT CHANGES ARE NECESSARY TO ADVANCE23
GEOTHERMAL DEVELOPMENT :24
(A) A
NONRESIDENTIAL BUILDING CONSTRUCTED BY A FOR -PROFIT25
ENTITY QUALIFIES FOR UP TO ONE THOUSAND TWO HUNDRED DOLLARS PER26
TON OF HEATING CAPACITY;27
HB22-1381
-5- (B) A NONRESIDENTIAL BUILDING CONSTRUCTED BY A NONPROFIT1
ENTITY QUALIFIES FOR UP TO TWO THOUSAND FIVE HUNDRED DOLLARS PER2
TON OF HEATING CAPACITY;3
(C) A
MULTIFAMILY RESIDENCE CONSTRUCTED BY A FOR -PROFIT4
ENTITY QUALIFIES FOR UP TO ONE THOUSAND TWO HUNDRED DOLLARS PER5
TON OF HEATING CAPACITY;6
(D) A
MULTIFAMILY RESIDENCE CONSTRUCTED BY A NONPROFIT7
ENTITY QUALIFIES FOR UP TO TWO THOUSAND FIVE HUNDRED DOLLARS PER8
TON OF HEATING CAPACITY; AND9
(E) A
SINGLE-FAMILY RESIDENCE, INCLUDING A RESIDENCE WITHIN10
A TOWNHOME OR CONDOMINIUM BUILDING , QUALIFIES FOR ONE THOUSAND11
FIVE HUNDRED DOLLARS PER TON OF HEATING CAPACITY ; AND12
(V) T
HE GRANTS ARE SUBJECT TO THE FOLLOWING LIMIT ON THE13
NUMBER OF TONS OF HEATING CAPACITY THAT QUALIFY A BUILDING FOR14
A GRANT; EXCEPT THAT THE OFFICE MAY CHANGE THE TONNAGE AMOUNT15
AFTER THE FIRST YEAR IF THE OFFICE FINDS THAT MEETING MARKET16
DEMANDS REQUIRES THE CHANGE :17
(A) A
GRANT FOR A SINGLE-FAMILY RESIDENCE IS LIMITED TO FIVE18
TONS; AND19
(B) A
GRANT FOR A NONRESIDENTIAL BUILDING IS LIMITED TO ONE20
HUNDRED TONS;21
(b) T
HE COMMUNITY DISTRICT HEATING GRANT , WHICH IS22
AWARDED TO SUPPORT GROUND -SOURCE, WATER-SOURCE, OR23
MULTISOURCE THERMAL SYSTEMS THAT SERVE MORE THAN A SINGLE24
BUILDING. APPLICANTS MAY APPLY FOR GRANTS FOR A SCOPING STUDY , A25
DETAILED DESIGN STUDY , PROJECTS, OR A COMBINATION OF THESE26
OPTIONS. TEAMS CONSISTING OF BUILDING OWNERS , GEOTHERMAL27
HB22-1381
-6- INSTALLERS, GAS OR ELECTRIC SERVICE PUBLIC UTILITIES, CONSULTANTS,1
DEVELOPERS, OR OTHER ENTITIES APPROVED BY THE OFFICE ARE ELIGIBLE2
TO SUBMIT A PROPOSAL FOR A SCOPING STUDY OR A DETAILED DESIGN3
STUDY. TO QUALIFY FOR A GRANT FOR THE PROJECT, AN APPLICANT MUST4
SUCCESSFULLY COMPLETE A STUDY AND SHOW PROOF OF A VIABLE5
PROJECT. A COMMUNITY DISTRICT HEATING GRANT IS SUBJECT TO THE6
FOLLOWING LIMITATIONS AND QUALIFICATIONS :7
(I) U
P TO ONE HUNDRED THOUSAND DOLLARS PER PROJECT TO8
CONDUCT A SCOPING STUDY TO DETERMINE IF A COMMUNITY THERMAL9
SYSTEM WOULD HELP LOWER GREENHOUSE GAS EMISSIONS AND PROVIDE10
A REASONABLE-COST APPROACH TO HEATING AND COOLING A GROUP OF11
BUILDINGS; AND12
(II) U
P TO FIVE HUNDRED THOUSAND DOLLARS PER PROJECT TO13
PERFORM A DETAILED DESIGN STUDY EVALUATING ISSUES , INCLUDING THE14
FINANCIAL AND LEGAL RESPONSIBILITIES, OF THE BUILDING OWNERS THAT15
WISH TO JOIN THE COMMUNITY THERMAL SYSTEM ; AND16
(c) T
HE GEOTHERMAL ELECTRICITY GENERATION GRANT , WHICH17
IS AWARDED TO SUPPORT THE DEVELOPMENT OF GEOTHERMAL18
ELECTRICITY GENERATION AND PROJECTS THAT PAIR GEOTHERMAL19
ELECTRICITY GENERATION WITH ELECTROLYZERS FOR THE PRODUCTION OF20
HYDROGEN FROM GEOTHERMAL GENERATION . A PERSON MAY APPLY FOR21
MORE THAN ONE COST -MATCHING GRANT IN A YEAR . A GEOTHERMAL22
ELECTRICITY GENERATION GRANT IS SUBJECT TO THE FOLLOWING23
LIMITATIONS AND QUALIFICATIONS:24
(I) L
OCAL GOVERNMENTS, CORPORATIONS, AND GAS OR ELECTRIC25
SERVICE PUBLIC UTILITIES ARE ELIGIBLE TO APPLY FOR AND RECEIVE THE26
GRANT;27
HB22-1381
-7- (II) FOR APPLICATIONS FOR A GRANT TO HELP FUND A STUDY TO1
IDENTIFY AND EXPLORE RESOURCES THAT MAY BE SUITABLE FOR2
GEOTHERMAL ELECTRICITY GENERATION , COSTING UP TO ONE MILLION3
DOLLARS, THE OFFICE MAY AWARD A GRANT OF UP TO FIFTY PERCENT OF4
THE STUDY COST; EXCEPT THAT, IF THE PROJECT INCLUDES THE5
PRODUCTION OF HYDROGEN FROM ELECTRICITY GENERATED USING6
GEOTHERMAL ENERGY , THE OFFICE MAY AWARD A GRANT OF UP TO SIXTY7
PERCENT OF THE STUDY COST;8
(III) F
OR APPLICATIONS FOR A GRANT TO HELP FUND A STUDY TO9
IDENTIFY AND EXPLORE RESOURCES THAT MAY BE SUITABLE FOR10
GEOTHERMAL ELECTRICITY GENERATION OR HYDROGEN GENERATION11
FROM ELECTRICITY GENERATED USING GEOTHERMAL ENERGY , COSTING12
MORE THAN ONE MILLION DOLLARS , THE OFFICE MAY AWARD A GRANT OF13
UP TO FIVE HUNDRED THOUSAND DOLLARS PER PROJECT ; AND14
(IV) F
OR PROJECTS THAT CONCERN AN IDENTIFIED POTENTIAL15
GEOTHERMAL RESOURCE BUT NEED CONFIRMATION THROUGH DRILLING16
AND TESTING OR THAT ARE SEEKING TO DEVELOP A PROJECT GENERATION17
SITE:18
(A) T
HE OFFICE MAY AWARD A GRANT OF UP TO FIFTY PERCENT OF19
THE FIRST MILLION DOLLARS OF THE COSTS OF THE PROJECT ;20
(B) T
HE OFFICE MAY AWARD UP TO FIVE HUNDRED THOUSAND21
DOLLARS PER PROJECT IN ADDITION TO THE AMOUNT AWARDED IN22
SUBSECTION (4)(c)(IV)(A) OF THIS SECTION; AND23
(C) A
DEVELOPER MAY APPLY FOR NO MORE THAN TWO GRANTS24
PER YEAR.25
(5) Application. T
O RECEIVE A GRANT, A PERSON MUST SUBMIT AN26
APPLICATION TO THE OFFICE IN ACCORDANCE WITH THE POLICIES AND27
HB22-1381
-8- PROCEDURES SPECIFIED BY THE OFFICE.1
(6) Use of grants. A
GRANTEE SHALL NOT USE THE MONEY2
RECEIVED THROUGH THE GRANT PROGRAM FOR ANY PURPOSE THAT IS NOT3
SPECIFIED IN SUBSECTION (4) OF THIS SECTION OR IN THE GRANT4
APPLICATION. IF A GRANTEE USES GRANT MONEY FOR ANY OTHER5
PURPOSE, THE GRANTEE IS SUBJECT TO A CIVIL ACTION TO RECOVER THE6
ENTIRE AMOUNT OF THE GRANT AWARD OR THE PORTION OF THE GRANT7
AWARD USED FOR THE OTHER PURPOSE .8
(7) Fund. (a) (I) T
HE GEOTHERMAL ENERGY GRANT FUND IS9
HEREBY CREATED IN THE STATE TREASURY . THE FUND CONSISTS OF10
MONEY THAT THE GENERAL ASSEMBLY MAY APPROPRIATE OR TRANSFER11
TO THE FUND.12
(II) T
HE STATE TREASURER SHALL CREDIT ALL INTEREST AND13
INCOME DERIVED FROM THE DEPOSIT AND INVESTMENT OF MONEY IN THE14
FUND TO THE FUND.15
(III) M
ONEY IN THE FUND IS CONTINUOUSLY APPROPRIATED TO THE16
OFFICE TO IMPLEMENT THIS SECTION.17
(b) G
RANTS MADE UNDER THIS SECTION ARE PAID OUT OF THE18
FUND.19
(c) (I) W
ITHIN FIVE BUSINESS DAYS AFTER THE EFFECTIVE DATE OF20
THIS SECTION, THE STATE TREASURER SHALL TRANSFER TWENTY MILLION21
DOLLARS FROM THE GENERAL FUND TO THE FUND .22
(II) T
HIS SUBSECTION (7)(c) IS REPEALED, EFFECTIVE JULY 1, 2023.23
(8) Administration. (a) T
HE OFFICE SHALL ADMINISTER THE24
GRANT PROGRAM, AWARD GRANTS AS PROVIDED IN THIS SECTION , AND25
DEVELOP POLICIES AND PROCEDURES AS NECESSARY TO IMPLEMENT THE26
GRANT PROGRAM.27
HB22-1381
-9- (b) THE OFFICE SHALL AWARD GRANTS FROM THE FUND IN1
ACCORDANCE WITH THE FOLLOWING PARAMETERS :2
(I) U
P TO FORTY PERCENT OF THE TOTAL MONEY IN THE FUND MAY3
BE AWARDED THROUGH GRANTS TO SUPPORT THE DEVELOPMENT OF4
GEOTHERMAL ELECTRICITY GENERATION AND RESOURCE DEVELOPMENT ,5
WHICH MAY INCLUDE HYDROGEN GENERATION PRODUCED FROM6
GEOTHERMAL ENERGY ;7
(II) U
P TO SIXTY PERCENT OF THE TOTAL MONEY IN THE FUND MAY8
BE AWARDED AS SINGLE -STRUCTURE GEOTHERMAL GRANTS , AND9
ONE-FOURTH OF THE GRANT MONEY AWARDED UNDER THIS SUBSECTION10
(8)(b)(II)
MUST BE AWARDED TO ELIGIBLE ENTITIES FROM OR PROJECTS IN11
LOW-INCOME, DISPROPORTIONATELY IMPACTED , OR JUST TRANSITION12
COMMUNITIES, AS THOSE COMMUNITIES ARE DEFINED BY THE OFFICE; AND13
(III) U
P TO TWENTY-FIVE PERCENT OF THE TOTAL MONEY IN THE14
FUND MAY BE AWARDED AS COMMUNITY DISTRICT HEATING GRANTS ,15
WHICH MAY INCLUDE:16
(A) S
INGLE-OWNER CAMPUSES;17
(B) M
EDICAL CAMPUSES;18
(C) R
ESIDENTIAL CAMPUSES;19
(D) M
ULTI-OWNER NODES; AND20
(E) P
UBLIC OR PRIVATE COLLEGE OR UNIVERSITY CAMPUSES .21
(c) T
HE OFFICE SHALL DEVELOP AND APPLY CRITERIA FOR22
EVALUATING AND AWARDING GRANT APPLICATIONS THAT :23
(I) P
RIORITIZE PROJECTS IN LOW-INCOME, DISPROPORTIONATELY24
IMPACTED, OR JUST TRANSITION COMMUNITIES; AND25
(II) M
AXIMIZE THE NUMBER OF ADDITIONAL PROJECTS THAT26
WOULD OTHERWISE NOT OCCUR WITHOUT THE GRANT MONEY .27
HB22-1381
-10- (9) Reporting. (a) E ACH GRANTEE SHALL SUBMIT AN ANNUAL1
REPORT TO THE OFFICE FOR TWO YEARS FOLLOWING RECEIPT OF A GRANT2
AWARD. THE OFFICE SHALL DETERMINE THE CONTENTS OF THE REPORT .3
(b) O
N OR BEFORE FEBRUARY 1, 2024, AND ON OR BEFORE4
F
EBRUARY 1 EACH YEAR THEREAFTER THROUGH FEBRUARY 1, 2026, THE5
OFFICE SHALL SUBMIT A REPORT TO THE TRANSPORTATION AND ENERGY6
COMMITTEE OF THE SENATE AND THE ENERGY AND ENVIRONMENT7
COMMITTEE OF THE HOUSE OF REPRESENTATIVES , OR ANY SUCCESSOR8
COMMITTEE, ON THE GEOTHERMAL ENERGY GRANT PROGRAM . AT A9
MINIMUM, THIS REPORT MUST INCLUDE:10
(I) T
HE TOTAL AMOUNT OF GRANT MONEY AWARDED IN THE11
PRECEDING CALENDAR YEAR ;12
(II) T
HE TOTAL NUMBER OF GRANTS AWARDED IN THE PRECEDING13
CALENDAR YEAR, INCLUDING THE AMOUNT OF EACH GRANT ;14
(III) T
HE TOTAL AMOUNT OF GRANT MONEY AWARDED TO EACH15
GRANTEE IN THE PRECEDING CALENDAR YEAR ;16
(IV) T
HE TOTAL AMOUNT OF MATCHING FUNDS THAT GRANTEES17
PROVIDED TO RECEIVE A GRANT;18
(V) T
HE PERCENTAGE OF THE TOTAL AMOUNT OF GRANT MONEY19
AWARDED IN THE PRECEDING CALENDAR YEAR THAT WAS AWARDED AS20
EACH TYPE OF GRANT DESCRIBED IN THIS SECTION ;21
(VI) T
HE PERCENTAGE OF THE TOTAL AMOUNT OF GRANT MONEY22
AWARDED IN THE PRECEDING CALENDAR YEAR THAT WAS AWARDED TO OR23
FOR PROJECTS IN LOW-INCOME, DISPROPORTIONATELY IMPACTED , OR JUST24
TRANSITION COMMUNITIES; AND25
(VII) T
O THE EXTENT AVAILABLE, THE EFFECTS OF THE GRANTS ON26
GAS USE, ELECTRICITY USE, EMISSIONS, AND ENERGY COSTS.27
HB22-1381
-11- (c) THIS SUBSECTION (9)(c) AND SUBSECTION (9)(b) OF THIS1
SECTION ARE REPEALED, EFFECTIVE JULY 1, 2026.2
(10) T
O THE EXTENT THAT A GAS OR ELECTRIC SERVICE UTILITY3
CONTRIBUTES TO A PROJECT OR PARTNERS WITH AN ELIGIBLE ENTITY4
UNDERTAKING A PROJECT AWARDED UNDER THE GRANT PROGRAM , THE5
UTILITY MAY COUNT MASS-BASED EMISSIONS REDUCTIONS ASSOCIATED6
WITH THE PROJECT TOWARD COMPLIANCE WITH THE REQUIREMENTS7
IMPOSED BY:8
(a) R
ULES PROMULGATED UNDER SECTION 25-7-105 (1)(e)(X.7);9
(b) S
ECTION 40-3.2-108 (3)(b); OR10
(c) A
NY SIMILAR GREENHOUSE GAS EMISSION REDUCTION11
PROGRAM OR REQUIREMENT IMPOSED BY RULE OR STATUTE .12
SECTION 2. In Colorado Revised Statutes, 24-75-402, add13
(5)(vv) as follows:14
24-75-402. Cash funds - limit on uncommitted reserves -15
reduction in the amount of fees - exclusions - definitions.16
(5) Notwithstanding any provision of this section to the contrary, the17
following cash funds are excluded from the limitations specified in this18
section:19
(vv) T
HE GEOTHERMAL ENERGY GRANT FUND CREATED IN SECTION20
24-38.5-113
(7).21
SECTION 3. Act subject to petition - effective date. This act22
takes effect at 12:01 a.m. on the day following the expiration of the23
ninety-day period after final adjournment of the general assembly; except24
that, if a referendum petition is filed pursuant to section 1 (3) of article V25
of the state constitution against this act or an item, section, or part of this26
act within such period, then the act, item, section, or part will not take27
HB22-1381
-12- effect unless approved by the people at the general election to be held in1
November 2022 and, in such case, will take effect on the date of the2
official declaration of the vote thereon by the governor.3
HB22-1381
-13-