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April 5, 2024 HB 24-1435
Legislative Council Staff
Nonpartisan Services for Colorado’s Legislature
Fiscal Note
Drafting Number:
Prime Sponsors:
LLS 24-1125
Rep. McCormick; Catlin
Sen. Roberts; Simpson
Date:
Bill Status:
Fiscal Analyst:
April 5, 2024
House Ag., Water & Natural Res.
Alexa Kelly | 303-866-3469
alexa.kelly@coleg.gov
Bill Topic: COLORADO WATER CONSERVATION BOARD PROJECTS
Summary of
Fiscal Impact:
☒ State Revenue
☒ State Expenditure
☒ State Transfer
☐ TABOR Refund
☒ Local Government
☐ Statutory Public Entity
The bill funds water projects in the Department of Natural Resources, directs transfers
between cash funds for appropriation to water-related projects, and provides loan
authorizations. It increases state expenditures on an ongoing basis.
Appropriation
Summary:
For FY 2024-25, the bill includes appropriations totaling $55,597,500 to the
Department of Natural Resources.
Fiscal Note
Status:
The fiscal note reflects the introduced bill.
Table 1
State Fiscal Impacts Under HB 24-1435
Budget Year
FY 2024-25
Out Year
FY 2025-26
Revenue - -
Expenditures Cash Funds $314,607,500 -
Total Expenditures $314,607,500 -
Transfers Cash Funds ($24,000,000) -
Cash Funds $24,000,000
Net Transfer $0
Other Budget Impacts - -
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April 5, 2024 HB 24-1435
Summary of Legislation
The bill appropriates a total of $55,957,500 for FY 2024-25 to the Department of Natural
Resources to be used by the Colorado Water Conservation Board (CWCB) and the Division of
Water Resources for a variety of water-related projects. It authorizes two loan programs totaling
$256,650,000. It also transfers $2 million to restore the balance of the litigation fund. The
projects and amounts authorized in the bill are discussed in Table 2.
Table 2
Appropriations, Transfers, and Loan Authorizations in HB 24-1435
Cost Components Amount
Appropriation to the CWCB Construction Fund for a satellite monitoring system for
water rights administration.
$380,000
Appropriation to the CWCB Construction Fund for Colorado floodplain map
modernization.
$1,000,000
Appropriation to the CWCB Construction Fund for weather modification permitting. $500,000
Transfer from unreserved cash in the CWCB Construction fund to the Litigation Fund
to restore the fund balance to address legal issues associated with compact
compliance.
$2,000,000
Appropriation from the CWCB Construction Fund for the Colorado Mesonet project. $200,000
Appropriation from the CWCB Construction Fund for improved water supply
forecasting.
$2,000,000
Appropriation from the CWCB Construction Fund for modeling and data analysis by
the Upper Colorado River Commission.
$500,000
Appropriation from the CWCB Construction Fund for the installation of telemetry
equipment across Colorado
$1,827,500
Appropriation from the CWCB Construction Fund to establish groundwater resource
goals in the Southern High Plains of Colorado
$250,000
Transfer from the CWCB Construction Fund with appropriation from the Turf
Replacement Fund for the statewide Turf Replacement Program, available through
June 30, 2028.
$2,000,000
Appropriation from the CWCB Construction Fund for state water plan projects. $4,000,000
Transfer from the Severance Tax Perpetual Base Fund with appropriation from the
CWCB Construction Fund to purchase Shoshone Power Plant water rights, available
through June 30, 2031.
$20,000,000
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April 5, 2024 HB 24-1435
Table 2
Appropriations, Transfers, and Loan Authorizations in HB 24-1435 (Cont.)
Cost Components Amount
Appropriation from the Water Plan Implementation Cash Fund for grants to assist in
implementing the state water plan.
$23,300,000
Loan authorization for the purpose of completing the Loan Windy Gap Firming
Project.
$155,650,000
Loan authorization for the purpose of new regional water supply project at the
Northern Integrated Supply Project.
$101,000,000
Total Expenditures $314,607,500
The bill also amends current law to allow CWCB more flexibility to spend $5.0 million previously
transferred from the Economic Recovery and Relief Cash Fund to provide assistance and grant
opportunities to entities applying for federal “Infrastructure Investment and Jobs Act” funding,
and other federal water-related funding opportunities.
State Transfers
For FY 2024-25, the bill transfers a total of $24 million, including:
$2,000,000 from unreserved cash in the CWCB Construction Fund to the CWCB Litigation
Fund;
$2,000,000 from the CWCB Construction Fund to the Turf Replacement Fund; and
$20,000,000 from the Severance Tax Perpetual Fund to the CWCB Construction Fund.
State Expenditures
For FY 2024-25, total expenditures in the DNR increase by approximately $315 million, which is
expected to be spent over several fiscal years. These funds are available for the purposes
designated in the bill and are available until expended, unless otherwise noted in Table 2.
Loan authorization. The bill includes authorization for the CWCB to loan approximately
$256.7 million from the CWCB Construction Fund and the Severance Tax Perpetual Base to the
Windy Gap Firming Project and the Northern Integrated Supply Project, respectively. These
funds are available until fully expended. State expenditures for loans is recovered in loan
payments based on terms negotiated by the DNR; loan repayment revenue will vary depending
on the interest rates issued and the length of the loan term. This fiscal note assumes that
interest is calculated to pay the administrative costs to originate and manage the loan, and that
any state revenue from interest payments will be minimal.
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April 5, 2024 HB 24-1435
Local Government
Funding provided by the bill may increase revenue to local water districts and water providers.
Effective Date
The bill takes effect upon signature of the Governor, or upon becoming law without his
signature.
State Appropriations
For FY 2024-25, the bill includes appropriations totaling $55,957,500 to the Department of
Natural Resources, which includes:
$32,657,500 from the CWCB Construction Fund;
$2,000,000 from the Turf Replacement Fund; and
$23,300,000 from the Water Plan Implementation Cash Fund.
State and Local Government Contacts
Natural Resources Treasury
The revenue and expenditure impacts in this fiscal note represent changes from current law under the bill for each
fiscal year. For additional information about fiscal notes, please visit the General Assembly website.