The bill declares that new technologies, such as blockchain, telemetry, improved sensors, and advanced aerial observation platforms, can improve monitoring, management, conservation, and
trading allocation of water to fulfill obligations under Colorado water law and enhance confidence in the reliability of data underlying water rights transactions. To advance the potential use of these new technologies, the bill:
- Authorizes and directs the university of Colorado and Colorado state university, in collaboration with the Colorado water institute at Colorado state university, to conduct feasibility studies and pilot deployments of these new technologies to improve water management in Colorado; and
- Appropriates $20,000 to each university from the general fund, contingent on the universities' receipt of a matching $40,000 in gifts, grants, and donations, for the purpose of funding the feasibility studies and pilot deployments.
(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)