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I I I I I I I I I I I I I I I I I I I Preferred Alternative . Regulatory Planning and Review The proposed rule is a significant regulatory action under section 3(f)(4) of EO 12866 pertaining to Regulatory Planning and Review because it raises novel legal or policy issues as stated in the Initial Regulatory Flexibility Analysis and the DOE prepared for this rule making action, Executive Order 12866 requires an assessment of potential costs and benefits under section 6(a)(3). As stated under the discussion of the Regulatory Flexibility Act, the proposed rule will not impose significant or unique impacts upon local governments (including Indian communities), or small entities, The proposed rule authorizes the distribution of Colorado River storage credits created by off stream storage on an interstate basis. California and Nevada are looking for alternative water supplies to satisfY the increasing demands of economic development and population growth, The proposed rule may provide an opportunity for Colorado River water users in Nevada to experience a marginal cost savings in securing alternative supplies. Off stream storage of Colorado River water and interstate distribution of Colorado River water credits are voluntary actions, Should the costs of the procedures proposed in the rule to facilitate these transactions be greater than the costs of other alternative water supplies, California and Nevada would probably select the lower cost alternatives, The Preferred Alternative is not expected to provide private sector incentives to invest in construction of private off stream storage facilities because ample existing facilities are available, . Paperwork Reduction Act This rule does not contain information collection requirements that the Office of Management and Budget must approve under the Paperwork Reduction Act of 1995, 44 U,S,C. 3501 et seq. This proposed rule is geographically limited to the States of Arizona, California, and Nevada, There will never be an industry-wide collection of information and there will always be fewer than 10 entities required to report information, The proposed rule covers authorized entities that would store Colorado River water off the mainstream of the Colorado River, There is only one authorized entity under Arizona law, In Nevada, the principal water users have established one organization to enter into interstate transactions on their behalf. There are six entities in the State of California within the geographic service area of the Lower Basin that have the potential to become authorized entities. The information to be reported will be compiled by the authorized entities in the course of their LC Region DEAl 1 20 12/97