SENATE CONSERVATION COMMITTEE SUBSTITUTE FOR

SENATE BILL 271

45th legislature - STATE OF NEW MEXICO - second session, 2002







AN ACT

RELATING TO WATER; CHANGING THE PURPOSE OF AND EXTENDING THE EXPENDITURE PERIOD FOR CERTAIN APPROPRIATIONS FROM THE NEW MEXICO IRRIGATION WORKS CONSTRUCTION FUND TO PURCHASE WATER RIGHTS IN THE PECOS RIVER BASIN FOR COMPLIANCE WITH THE PECOS RIVER COMPACT.



BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

Section 1. PECOS RIVER WATER RIGHTS--CHANGE IN PURPOSE AND EXTENSION OF EXPENDITURE PERIOD.--

A. The period of time for expending the balances in the following appropriations from the New Mexico irrigation works construction fund to the interstate stream commission may be extended through fiscal year 2004 for the purpose of retiring water rights along the Pecos river basin, including pumping ground water, and taking other appropriate actions that would effectively aid New Mexico in compliance with the United States supreme court amended decree in Texas v. New Mexico, 96 L. Ed. 2nd 105 (1987):

(1) Laws 1998, Chapter 81, Section 2 for retiring water rights along the Pecos river basin and taking other appropriate actions that would effectively aid New Mexico in compliance with the United States supreme court amended decree in Texas v. New Mexico, 96 L. Ed. 2nd 105 (1987);

(2) Laws 1998, Chapter 81, Section 3 for the purchase of water rights along the Pecos river basin;

(3) Laws 1999 (1st S.S.), Chapter 2, Section 84 for the purchase of water rights along the Pecos river;

(4) Laws 1998, Chapter 81, Section 4 for preparing a long-term strategy for the state's compliance with the Pecos River Compact and other matters; and

(5) Laws 2000 (2nd S.S.), Chapter 23, Section 95.

B. Any unexpended or unencumbered balance remaining at the end of fiscal year 2004 shall revert to the New Mexico irrigation works construction fund.

C. The interstate stream commission shall, before any purchase of water rights is made using the money appropriated, obtain professionally prepared market or economic valuations or appraisals. The valuations or appraisals along with other relevant considerations shall be the basis for any purchase.

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