Water Rights Donation Tax Credit

Water Rights Donation Tax Credit SSL Draft

Summary:

This Act establishes a credit against the state income tax for people or companies that donate the right to withdraw water from streams to the state water conservation board for the purpose of reducing the amount of water that is withdrawn from the streams. The Act specifies that the state water conservation board will approve the credits by issuing certificates to water rights owners who permanently transfer water rights to the water conservation board. The bill establishes the credit at one half of the value of the donated water right, as determined by an appraisal, with a maximum value of $250,000. It limits the total annual dollar amount of credits to $2.0 million.

Submitted as:
Colorado
HB 09-1067

Status: Enacted into law in 2009.

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