The act directs the state treasurer to make an immediate, one-time transfer of $3 million from the general fund to the agriculture value-added cash fund to augment the department of agriculture's ongoing advancing Colorado's renewable energy and energy efficiency (ACRE 3 ) program. At least $150,000 of this money must be allocated to research, guidance, technical assistance, feasibility studies, and projects related to agrivoltaics. "Agrivoltaics" is defined as solar energy generation facilities located on land that is also used for agricultural production.
The act appropriates the $3 million from the agriculture value-added cash fund to the department of agriculture for use by the commissioner's office to make grants to implement the ACRE 3 program.
The act also appropriates $2 million from the general fund to the department of agriculture for use by the conservation services division for the purpose of administering voluntary soil health programs. Of this amount, the department is directed to expend at least $1 million in grants to conservation districts, and all of the money appropriated to the conservation services division must be expended by December 31, 2022.
The act requires the department of agriculture to periodically report on its expenditures to the office of state planning and budgeting and the general assembly.
(Note: This summary applies to this bill as enacted.)