(5)(a) There is hereby created in the state treasury the feasibility study small grant
fund for the purpose of making small grants to help pay the costs of preparing water
project feasibility studies. The Colorado water conservation board shall approve small feasibility study grants
based solely on criteria adopted by the board.
(b) On July 1, 2019, and on each July 1 thereafter, in addition to any remaining balance
in the fund at the end of the fiscal year, the state treasurer is hereby authorized
and directed to annually transfer up to five hundred thousand dollars from the Colorado
water conservation board construction fund to the feasibility study small grant fund
to restore the unencumbered balance in the feasibility study small grant fund to five
hundred thousand dollars. The money in the feasibility study small grant fund is hereby continuously appropriated
to the board for grants in compliance with this subsection (5). All interest derived from the investment of money in the feasibility study small
grant fund shall be credited to the Colorado water conservation board construction
fund. Any balance remaining in the feasibility study small grant fund at the end of any
fiscal year shall remain in the fund and shall not revert to the Colorado water conservation
board construction fund.
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