Section 2 of the bill requires that, on or before June 30, 2018, and on or before June 30 of each year thereafter, each covered entity must submit to the Colorado water conservation board (board) a completed and validated water loss audit report pursuant to guidelines that the board must adopt by January 1, 2018. A 'covered entity' is a public entity that supplies at least 2,000 acre-feet of water per year to its customers. The board may make grants from the water efficiency grant program cash fund to provide water loss audit report validation assistance to covered entities. No earlier than January 1, 2020, and no later than July 1, 2021, the board must adopt guidelines establishing a score that a covered entity's validated audit report should attain. Beginning September 1, 2020, the board and the Colorado water resources and power development authority may consider whether a covered entity has submitted a required audit report in deciding whether to release financial assistance to the covered entity (section 1). Section 3 transfers $150,000 per year for 3 years from the drinking water revolving fund to the water efficiency grant program cash fund.
(Note: This summary applies to this bill as introduced.)