H.B. 09-1067, Instream Flow Tax Incentives

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From PRNewswire via the Denver Post:

Passed by the legislature during the 2009 session, House Bill 1067 creates a new incentive for individuals to contribute to the long-term health of important stretches of stream in all of Colorado’s river basins. Under current law, the Colorado Water Conservation Board (CWCB) can receive donations of water rights to protect stream flows and benefit the environment. The legislation authorizes the Colorado Water Conservation Board to award tax credit certificates to donors of water rights that the Board deems worthy of such consideration. The Board negotiates the tax credit values with the water right donor.

“Giving Colorado’s family farmers more options in deciding how to benefit from their property will help our agricultural communities,” said Kent Peppler, President of the Rocky Mountain Farmers Union. “As good land stewards, family farmers will look favorably upon this program as an alternative to selling their rights to water developers who often export the water to urban and suburban parts of the state.”

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