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F I S C A L I M P A C T R E P O R T

SPONSOR Beffort

DATE TYPED 2/25/05

HB

SHORT TITLE Lower Pecos River Water Bank Law Repeal

SB 800

ANALYST Aguilar

APPROPRIATION

Appropriation Contained Estimated Additional Impact Recurring

or Non-Rec

Fund

Affected

FY05

FY06

FY05

FY06

NFI

(Parenthesis ( ) Indicate Expenditure Decreases)

SOURCES OF INFORMATION

LFC Files

SUMMARY

Synopsis of Bill

Senate Bill 800 removes the December 31, 2005 sunset provision that repeals Section 72-1-2.3

NMSA 1978. This section provides for establishment of a water bank in the lower Pecos river

basin below Sumner Lake for purpose of compliance with the Pecos River Compact.

Significant Issues

Existing statutes provide that the Interstate Stream Commission (ISC) may recognize a water

bank established by an irrigation district, conservancy district, artesian conservancy district,

community ditch, acequia, or a water users association in the lower Pecos river basin for pur-

poses of compliance with the Pecos River Compact. The water bank noted complements statu-

tory provisions requiring the State Engineer to adopt rules to promote expedited marketing and

leasing of water in areas affected by priority administration.

The State Engineer notes the repeal of the sunset provision will facilitate the creation of a water

bank in the lower Pecos and would therefore promote expedited marketing and leasing of water

in that area.

PA/yr