Section 37-60-123.2 - Flood and drought response fund - created(1) There is hereby created in the state treasury the flood and drought response fund, referred to in this section as the "response fund". On July 1, 2019, and on each July 1 thereafter, in addition to any remaining balance in the response 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 response fund to restore the unencumbered balance in the response fund to five hundred thousand dollars. The board is authorized to provide funding for flood and drought preparedness and for response and recovery activities following flood or drought events and disasters. The money in the response fund is hereby continuously appropriated to the board for flood and drought response purposes, including the immediate availability of funds for aerial photography of flooded areas, flood and drought documentation and identification of specific hazards, evaluations and revisions of floodplain designations and drought-prone areas, flood and drought forecasting and preparation, and development of disaster and recovery mitigation plans. The state treasurer shall credit all interest derived from the investment of money in the response fund to the Colorado water conservation board construction fund. Any balance remaining in the response fund at the end of any fiscal year remains in the fund.Amended by 2019 Ch. 417,§ 14, eff. 6/3/2019.Amended by 2015 Ch. 192,§ 15, eff. 5/14/2015.Amended by 2014 Ch. 356,§ 18, eff. 6/6/2014.Amended by 2014 Ch. 227,§ 1, eff. 5/17/2014.L. 2001: Entire section added, p. 689, § 24, effective May 30. L. 2007: Entire section amended, p. 1519, § 24, effective May 31. L. 2012, 1st Ex. Sess.: Entire section amended, (SB 12S-002), ch. 1, p. 2416, § 6, effective May 19. L. 2014: Entire section amended, (SB 14-179), ch. 845, p. 845, § 1, effective May 17; entire section amended, (HB 14-1333), ch. 1661, p. 1661, § 18, effective June 6. L. 2015: (2)(e) amended, (SB 15-253), ch. 638, p. 638, § 15, effective May 14. L. 2019: (1) amended, (SB 19-221), ch. 3668, p. 3668, § 14, effective June 3.(1) Amendments to this section by HB 14-1333 and SB 14-179 were harmonized.
(2) Subsection (2)(e) provided for the repeal of subsection (2), effective July 1, 2017. (See L. 2015, p. 638.)