From the Denver Business Journal: “Coffman’s Water Accountability Tax Efficiency Reinvestment (WATER) Act would mimic the Energy Star program under which the U.S. Environmental Protection Agency already offers tax credits for the purchase of energy-efficient appliances. The measure was introduced on April 2, and Coffman — R-Aurora — discussed it in more detail at a Denver news conference Monday. The WATER Act would reward products that already have received a “WaterSense” label from the EPA. The federal agency awards the label for products generally more than 20 percent more efficient than the market average. The measure, House Resolution 1908, would provide participants with a 30 percent tax credit, with a $1,500 cap. The EPA estimates a family of four could save 17,000 gallons of water per year by installing WaterSense faucets and toilets, Coffman noted.”
Update: More coverage from the Denver Post (John Ingold):
Coffman said he hopes the proposed credit, which was formally introduced earlier this month and has bipartisan support in Congress, will spur a greater culture of conservation in Colorado. He noted the state faces an estimated 630,000-acre-foot water-supply shortfall by 2030…
Dubbed the Water Accountability Tax Efficiency Reinvestment Act, the measure would provide a tax credit equal to 30 percent of the cost of each purchased item bearing the Environmental Protection Agency’s WaterSense label. WaterSense products, including toilets, faucets and sprinkler systems, are at least 20 percent more efficient than average ones. The credit amount would be capped at $1,500 per year. The credit would function almost identically to an existing tax credit for purchases of electricity-saving Energy Star-rated products…
A phalanx of local elected officials from the fast-growing suburbs south of Denver stood behind Coffman at the Monday news conference where he announced the legislation. County commissioners from both Arapahoe and Douglas counties said they support the measure.