The bill, known as the "Colorado Energy Impact Assistance Act", authorizes any electric utility (utility) to apply to the public utilities commission (PUC) for a financing order that will authorize the utility to issue low-cost Colorado energy impact assistance bonds (bonds) to lower the cost to electric utility customers (ratepayers) when the retirement of an electric generating facility occurs. A utility that issues bonds in conjunction with the retirement of an electric generating facility may apply to the PUC for approval to replace the retired electric generating facility with cost-effective generation resources or energy storage facilities, the granting of which by the PUC is subject to specified requirements and limitations. A portion of bond proceeds will provide transition assistance for Colorado workers and communities directly affected by the retirement of the facilities (transition assistance). To repay the bonds at the lowest cost to ratepayers, the PUC is authorized to review and approve a financing order and authorize a special energy impact assistance charge that is separate and apart from the utility's base rates on all ratepayer bills. The establishment and ongoing adjustment of the separate charge will allow bonds to achieve the highest possible credit rating, at least AA/Aa2, from the national independent credit rating agencies and will therefore allow bonds to be issued at the lowest possible interest rate and lowest subsequent cost to ratepayers. Before issuing a financing order, the PUC must hold a public hearing, receive testimony from affected groups, and make specified determinations concerning the necessity, prudence, justness, reasonableness, and quantifiable benefits to utility ratepayers of issuing the financing order. After the public hearing process, if a financing order is approved by the PUC, it must include specific information and instructions for the utility to which it applies relating to the amount of bonds to be issued and the imposition of the energy impact assistance charge and must require the utility to pay 15% of the net present value of the savings to a newly created Colorado energy impact assistance authority (authority) for the payment of transition assistance by the authority and the authority's reasonable and necessary administrative and operating costs. As an alternative to the financing order and bond issuance process, upon the closure of an electric generating facility, a Colorado electric utility may transfer to the authority an amount of up to 15% of the net present value of operational savings created by the closure of the electric generating facility, and such a transfer shall be deemed by the PUC to be a prudent action by the utility. The bill specifies that the authority is governed by a 7-member board of directors appointed by the governor and specifies mandatory and suggested occupational experience for the directors. The authority is authorized to receive bond proceeds from a utility to which a financing order applies and use the bond proceeds to provide transition assistance and pay its reasonable and necessary administrative and operating costs. Transition assistance is defined to include payment of retraining costs, including costs of apprenticeship programs and skilled worker retraining programs, for and financial assistance to directly displaced Colorado facility workers, compensation to Colorado local governments for lost property tax revenue directly resulting from the retirement of a facility, and similar payments, job retraining, assistance, and compensation for directly displaced Colorado workers and local governments in areas that produce fuel used in the retired facility directly resulting from the elimination of the need for fuel at the facility. The authority must disburse at least 50% of the transition assistance that it provides directly to Colorado workers; except that, if the local advisory committee established by the authority as required by the bill determines that the disbursement of 50% of all transition assistance directly to Colorado workers would be excessive based on the amount of transition assistance available and the amount of need for such direct assistance and recommends that a lower percentage of all transition assistance be disbursed directly to Colorado workers, the authority may reduce the percentage of all transition assistance disbursed directly to Colorado workers below50% to any percentage not less than 30%. When determining how best to provide transition assistance to a local community, the authority must, in conjunction with each board of county commissioners, municipal governing body, and school district that includes all or a portion of the impacted community, establish and take into consideration the advice of a local advisory committee. The authority is subject to open meeting and open records requirements and is required to submit a report to specified committees of the general assembly that sets forth a complete and detailed financial and operating statement of the authority for any fiscal year for which the authority has provided transition assistance. (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.) Read More
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The bill requires the state archivist to develop and implement a plan to provide a permanent public display of the original Colorado constitution in the state capitol building. The plan must be approved by the capitol building advisory committee and the capital development committee. State archives would be responsible for constructing and maintaining the display as well as protecting and preserving the state constitution itself. State archives would have the authority to accept bequests, gifts, or grants in addition to any appropriations for the display.(Note: This summary applies to this bill as introduced.) Read More
Under current law, the Colorado water conservation board (board), subject to procedural requirements established to prevent injury to water rights or decreed conditional water rights, may use loaned water for instream flows if the loaned water is used for preserving the natural environment of a stream reach that is subject to a decreed instream flow water right held by the board. The bill expands the number of years within a 10-year period that a loan may be exercised from 3 years to 5 years, but for no more than 3 consecutive years, and allows a loan to be renewed for up to 2 additional 10-year periods. The bill also expands the board's ability to use loaned water for instream flows to allow loans to improve the natural environment to a reasonable degree pursuant to a decreed instream flow water right held by the board. In considering whether to accept the new type of loan authorized by the bill, the board must evaluate the proposed loan based on a biological analysis performed by the division of parks and wildlife. The board is required to promulgate rules regarding the necessary steps for reviewing and accepting such a loan. The state or division engineer's decision to approve or deny a proposed loan may be appealed to a water judge, who is required to hear the matter on an expedited basis and to review the evidence presented to the state or division engineer on a de novo basis. (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.) Read More
Farm stands - retail sale of goods permitted - compliance with other applicable laws. The act defines "farm stand" to mean a temporary or permanent structure used for the sale and display of agricultural products resulting from agricultural operations that are conducted on the principal use site on which the farm stand is located. The act permits a farm stand to sell and display agricultural products resulting from agricultural operations not conducted on the principal use site to the extent permitted by the applicable local government. The act permits a farm stand to be located on a parcel of any size. The retail sale of goods to the public by a farm stand must include goods or other agricultural products that are grown or produced on the principal use site on which the farm stand is located or may include agricultural products resulting from agricultural operations that are not conducted on the principal use site to the extent permitted by the applicable local government. The act does not prohibit a local government from requiring the operator of a farm stand to obtain a valid license or permit or to comply with any other applicable laws prior to operating the farm stand, but in no way shall such local permitting, licensing, or other applicable legal requirements deny the use of the site as a farm stand. (Note: This summary applies to this bill as enacted.) Read More
Colorado mountain college - authorization for baccalaureate degree program - local college district annexations - funding. The act changes the role and mission of Colorado mountain college from authorizing no more than 5 baccalaureate degree programs, as determined by its board, to authorizing a limited number of baccalaureate degree programs, as determined by its board. Colorado mountain college should confer with regional education providers to determine the feasibility of cooperative delivery of new bachelor's programs in adjacent localities. If a local college district annexes a school district or group of school districts into the local college district, for at least 5 years after annexation, the act requires the Colorado commission on higher education to consider annually recommending increases to the direct grant amount appropriated to a local college district to reflect increases in resident enrollment. Prior to recommending the increase, the commission shall consult the affected local college district. (Note: This summary applies to this bill as enacted.) Read More
Hard rock mining - mined land reclamation board - reclamation plan - water quality treatment - financial assurance. Current law does not address reliance on perpetual water treatment as the means to minimize impacts to water quality in a reclamation plan for a mining operation. Section 1 of the act requires most reclamation plans to demonstrate, by substantial evidence, a reasonably foreseeable end date for any water quality treatment necessary to ensure compliance with applicable water quality standards. Current law allows a mining permittee to submit an audited financial statement as proof that the operator has sufficient funds to meet its reclamation liabilities in lieu of a bond or other financial assurance. Section 2 eliminates this self-bonding option and also requires that all reclamation bonds include financial assurances in an amount sufficient to protect water quality, including costs for any necessary treatment and monitoring costs. (Note: This summary applies to this bill as enacted.) Read More
Severance tax operational fund - distribution - core departmental programs - natural resources and energy grant programs - reserve requirement - cap - transfer to the severance tax perpetual base fund. The act makes the following changes related to the distribution of the money in the severance tax operational fund (operational fund): Defines programs for the department of natural resources that are funded from the operational fund and that were known as "tier-one programs" as "core departmental programs"; Defines transfers that are made after the core departmental programs and a reserve requirement are funded and were known as "tier-two programs" as "transfers to the natural resources and energy grant programs"; Separates an existing reserve into 2 separate reserves, the core reserve and the grant program reserve, while maintaining the overall purpose of each reserve; Establishes a cap on the grant program reserve equal to the maximum transfers to the natural resources and energy grant programs required by law; Requires the state treasurer to make the transfers to the natural resources and energy grant programs on August 15 after a fiscal year and to base the transfers on actual revenue as opposed to estimated revenue; Permits money from the grant program reserve to be used for the transfers to the natural resources and energy grant programs; and If all of the appropriations and transfers have been made and both reserves are full, then requires the state treasurer to transfer any money remaining in the operational fund to the severance tax perpetual base fund.(Note: This summary applies to this bill as enacted.) Read More
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For property tax years commencing on or after January 1, 2020, but before January 1, 2030, the bill exempts from property tax business personal property used to manufacture wind turbines or components of wind turbines at the site where the wind turbines will be placed into service.(Note: This summary applies to this bill as introduced.) Read More