Polis signs water conservation bill

(COLORADO) — Governor Jared Polis signed a bipartisan water conservation bill into law on Monday, May 20.

The newest law, HB24-1436, allows the state to keep and spend all sports betting tax revenue to fund water conservation and protection projects.

“Water is Colorado’s most precious natural resource, because it powers everything we do, from agriculture to our outdoor recreation economy, which is why I am fighting tooth and nail to secure our state’s water future,” said Senator Dylan Roberts. “Now, we’re giving Colorado voters an opportunity to join in the fight and allow sports betting revenue to fund critical water projects that will benefit communities across our state. I am proud of this bipartisan effort that will help protect our precious water resources and our Colorado way of life.”

In 2019, Colorado voters approved Proposition DD allowing the state to keep and spend $29 million of sports betting tax revenue per year for water conservation efforts. Current law requires anything above $29 million to be refunded to casinos and online sports betting entities.

An initiative placed on the ballot will allow voters to decide if the revenue above the $29 million cap is to be transferred to the Water Plan Implementation Cash Fund. The fund supports water projects across the state including water storage, supply, agricultural projects, watershed health and recreation projects.

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