Forest Health Project Financing

The act provides additional options for financing forest health projects by authorizing:A separate legal entity created by a combination of local governments as authorized by current law to establish special or local improvement districts within the boundaries of the combination and levy special assessments on property specially benefited by improvements, functions, services or facilities, including forest health projects, that the separate legal entity is authorized to provide; Counties, municipalities, special districts, water conservancy districts, the Colorado river water conservation district, and the southwestern water conservation district to conduct or participate in and finance forest health projects; and Authorizing a forest improvement district to use its sales tax revenue for forest health projects. The act also adds to the definition of "forest health project" management actions that improve the ecological health of a forest or reduce the threat of forest disease epidemics or high-intensity wildfires, and postpones the scheduled repeal of the statute that authorizes the Colorado water resources power and development authority to issue bonds to fund watershed protection projects and forest health projects from July 1, 2023, to July 1, 2033.(Note: This summary applies to this bill as enacted.)