Declining tax revenue to drain water funding
GRAND JUNCTION, Colorado ” The slowdown in the natural gas industry means Colorado water managers will have less money for water projects and studies.
Colorado Water Conservation Board Director Jennifer Gimbel says the agency expects less severance tax revenue for the 2009-10 fiscal year because of low prices and lack of pipeline capacity.
The severance tax is imposed on oil and gas drilling on state land.
Gimbel told legislators Wednesday the board also faces $30 million in proposed cuts to its grant and loan funds for projects.
Board member John Redifer of Grand Junction says the funding shortfall could affect the river basin roundtables that are studying ways to meet Colorado’s water needs.