Water Resources Review Committee. The bill declares that new technologies, such as blockchain, telemetry, improved sensors, and advanced aerial observation platforms, can improve monitoring, management, conservation, and trading of water and enhance confidence in the reliability of data underlying water rights transactions. To advance the potential use of these new technologies, the bill:
- Authorizes and directs the university of Colorado, in collaboration with the Colorado water institute at Colorado state university, to conduct feasibility studies and pilot deployments of these new technologies to improve water management in Colorado; and
- Appropriates $40,000 from the general fund, contingent on the university of Colorado's receipt of a matching $40,000 in gifts, grants, and donations, for the purpose of funding the studies and pilot programs.
(Note: This summary applies to this bill as introduced.)