Forest Health Project Financing

The bill provides additional options for financing forest health projects by authorizing:

• A separate legal entity created by a combination of local governments as authorized by current law to establish special or local improvement districts within the boundaries of the combination and levy special assessments on property specially benefited by improvements, functions, services or facilities, including forest health projects, that the separate legal entity is authorized to provide;
• Counties, municipalities, special districts, water conservancy districts, the Colorado river water conservation district, and the southwestern water conservation district to conduct or participate in and finance forest health projects; and
• Authorizing a forest improvement district to use its sales tax revenue for forest health projects.

The bill also modifies the definition of "forest health project"and postpones the scheduled repeal of the statute that authorizes the Colorado water resources power and development authority to issue bonds to fund watershed protection projects and forest health projects from July 1, 2023, to July 1, 2033.

(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)

(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)