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<br />001433 <br /> <br />direct storage or indirect storage. Direct storage can be accomplished by putting water into an <br />underground aquifer at an underground water storage facility or in a surface reservoir located <br />off the mainstream of the Colorado River. Indirect storage can be accomplished through <br />groundwater savings that result from replacing established groundwater use with Colorado <br />River water. <br />A central feature of the procedures in the proposed rule is the Interstate Storage <br />Agreement. Under this section of the proposed rule, the authorized entities of two or more <br />Lower Division States may enter into an agreement to store Colorado River water offstream. To <br />become effective, these agreements require approval by the Secretary. To obtain the approval of <br />the Secretary, each Interstate Storage Agreement must contain a description of the following: <br />quantity of water to be stored; location of storage; type and source of water; accounting, <br />reporting and use of storage credits associated with water to be stored; end use of water to be <br />stored; and the extent to which Federal facilities or resources will be used to deliver or store <br />Colorado River water stored offstream. <br />Under the proposed rule, the Secretary has 120 days to approve or disapprove such <br />agreements unless the Secretary determines that additional time is necessary to review the <br />agreement because the proposal involves significant environmental compliance activities or other <br />issues. In reviewing any proposed Interstate Storage Agreement, the Secretary will consider the <br />following: applicable law; applicable contracts; potential effects on trust resources; potential <br />effects on contractors or Federal entitlement holders, including Indian and non-Indian present <br />perfected rights (PPR) holders and other Indian tribes; potential effects on third parties; <br />environmental impacts and effects on threatened and endangered species; comments from <br />interested parties, particularly parties who may be affected by the proposed action; and other <br />relevant factors, including the implications of the proposed Interstate Storage Agreement for the <br />financial interests of the United States. <br />Under this section of the orooosed rule. stora2"e credits are develooed for the benefit of the <br />authorized entity for which Colorado River water is olaced in offstream storalZe. The stora2"e <br />credits entitle the entity to recover water at a later date. The authorized entities involved in the <br />transaction will account for the water diverted and stored off stream under an Interstate Storage <br />Agreement, and prior to any redemption of storage credits certify to the Secretary that water <br />associated with storage credits has been stored. The Secretary must be satisfied that necessary <br />actions have been taken to develop intentionally created unused apportionment. Once this <br />determination has been made, the Secretary will make available this intentionally created unused <br />apportionment for use by the authorized entity of the Consuming State consistent with the <br />BCP A, Article IT(B)( 6) of the Decree, and all other applicable laws. Also, under this section, <br />Interstate Storage Agreements may be assigned in whole or in part to authorized entities upon <br />the agreement of the parties to the Interstate Storage Agreement and approval of the Secretary. <br /> <br />Section 414.4. Reporting Requirements and Accounting for Storage Credits <br /> <br />Under this section of the proposed rule, each authorized entity that has stored Colorado <br />River water offstream for interstate purposes must submit a report to the Secretary bv Januarv <br />31 of each year. The report will specify the quantity of Colorado River water that was stored <br /> <br />19 <br />