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<br />001437 <br /> <br />States under the Decree nor does it alter the distribution of power and responsibilities among the <br />various levels of government. Therefore, in accordance with Executive Order 12612, the <br />Secretary has determined that this proposed rule does not have sufficient federalism implications <br />to warrant preparation of a Federalism Assessment. <br /> <br />Executive Order 12630, Takings Implications Analysis <br /> <br />The proposed rule does not represent a government action capable of interfering with <br />constitutionally protected property rights. This rule does not impose additional fiscal burdens on <br />the public. This rule would not result in physical invasion or occupancy of private property or <br />substantially affect its value or use. The rule would not result in any Federal action that would <br />place a restriction on a use of private property. The rule does not affect a Colorado River water <br />entitlement holder's right to use its full water entitlement. Under the proposed rule, an <br />authorized entity may store unused Colorado River water available from an entitlement holder's <br />water rights only if the water right holder does not use or store that water on its own behalf. <br />Under the proposed rule, the only water that can be used to satisfy storage credits is unused <br />apportionment created by the forbearance of a use which otherwise would have occurred. <br />Therefore, the Department of the Interior has determined that the rule would not cause a taking <br />of private property or require further discussion of takings implications under this Executive <br />Order. <br /> <br />Executive Order 12866, Regulatory Planning and Review <br /> <br />This proposed rule is a significant regulatory action under section 3(0(4) of Executive <br />Order 12866 because it raises novel legal or policy issues. Executive Order 12866 requires an <br />assessment of potential costs and benefits under section 6(a)(3) of that Executive Order. <br />Reclamation's benefit-cost analysis determines that the proposed rule does not impose significant <br />or unique impacts upon small governments (including Indian communities), small entities such as <br />water purveyors or associations, or even individual water entitlement holders. <br />The proposed rule authorizes the distribution of Colorado River water storage credits <br />created by off stream storage on an interstate basis. <br />California and Nevada are looking for alternative water supplies to satisfy the increasing <br />demands of economic development and population growth. The proposed rule may provide an <br />opportunity for Colorado River water users in Nevada to experience a marginal costs savings in <br />securing alternative supplies. Off stream storage of Colorado River water and interstate <br />distribution of Colorado River water storage credits are voluntary actions. Should the costs of <br />the procedures proposed in the rule to facilitate these transactions be greater than the costs of <br />other alternative water supplies, California and Nevada would probably select the lower cost <br />alternatives. <br />The benefit -cost analysis estimated net economic benefits of the proposed rule on a State <br />and regional level using different water supply models and discount rates. The different water <br />supply models represent potential water supply conditions on the Colorado River that affect <br />interstate demand for water from an Arizona water bank and the magnitude of economic benefits <br /> <br />23 <br />