LEG00266

• Bill Number: HB01-1354
• Year: 2001
• Title: Concerning the Establishment of a Water Banking System and in Connection Therewith Making an Appropriation
• Legislation - Doc Type: Other CWCB Related Bills - Passed

IS ALSO THE PURPOSE OF THIS PILOT WATER BANK TO ASSIST FARMERS AND RANCHERS BY
DEVELOPING A MECHANISM TO REALIZE THE VALUE OF THEIR WATER RlGHTS ASSETS
WITHOUT FORCING THE PERMANENT SEVERANCE OF THOSE WATER RIGHTS FROM THE
LAND. THE GENERAL ASSEMBLY AFFIRMS THE STATE CONSTITUTION'S RECOGNITION OF
WATER RIGHTS AS A PRIVATE USUFRUCTUARY PROPERTY RlGHT, AND THIS ARTICLE IS NOT
INTENDED TO RESTRICT THE ABILITY OF THE HOLDER OF A WATER RIGHT TO SELL, LEASE,
OR EXCHANGE THAT WATER RIGHT IN ANY OTHER MANNER THAT IS CURRENTLY
PERMITTED UNDER COLORADO LAW. FURTHER, THIS ARTICLE IS NOT INTENDED TO BE
IMPLEMENTED IN ANY WAY THAT WOULD CAUSE MATERlAL INJURY TO THE OWNER OF OR
PERSONS ENTITLED TO USE WATER UNDER A VESTED WATER RIGHT OR A DECREED
CONDITIONAL WATER RIGHT, NOR TO REPEAL OR IN ANY MANNER AMEND THE EXISTING
WATER RIGHTS ADJUDICATION SYSTEM EXCEPT AS MAY BE SPECIFICALLY SET FORTH IN
THIS ARTICLE.

37-80.5-103. Definitions. AS USED IN THIS ARTICLE, UNLESS THE CONTEXT OTHERWISE
REQUIRES:

(I) "BANK" MEANS THE ARKANSAS RlVER WATER BANK OPERATED PURSUANT TO
RULES PROMULGATED UNDER SECTION 37-80.5-104.

(2) "PROGRAM" MEANS THE ARKANSAS RlVER WATER BANK PILOT PROGRAM CREATED
IN SECTION 37-80.5-104,

37-80.5-104. Water bank - creation - duties of state engineer - rules. (I) (a) THERE IS HEREBY
CREATED THE ARKANSAS RlVER WATER BANK PILOT PROGRAM. ON OR BEFORE JULY 1,2002,
THE STATE ENGINEER SHALL PROMULGATE PILOT PROGRAM RULES NECESSARY OR
CONVENIENT FOR OPERATION OF THE PROGRAM, THE STATE ENGINEER, AFTER PUBLIC
MEETINGS IN THE ARKANSAS RlVER BASIN AND IN CONSULTATION WITH THE COLORADO
WATER CONSERVATION BOARD, SHALL CONSULT WITH THE COLORADO WATER
CONSERVATION BOARD REGARDING FORMULATION OF THE RULES. THE RULES SHALL BE
PROMULGATED IN ACCORDANCE WITH THE FOLLOWING:

(I) THE RULES SHALL AUTHORlZE, FACILITATE, AND PERMIT THE LEASE, EXCHANGE, OR
LOAN, INCLUDING THE USE OF INTERRUPTIBLE SUPPLY AGREEMENTS, OF STORED WATER
WITHIN OR FROM THE BASIN OF THE ARKANSAS RlVER LOCATED WITHIN COLORADO;
EXCEPT THAT NOTHING IN THIS ARTICLE SHALL BE CONSTRUED TO AUTHORlZE ANY LEASE,
EXCHANGE, OR LOAN OF WATER BELOW JOHN MARTIN RESERVOIR TO POINTS OF DIVERSION
OR STORAGE ABOVE JOHN MARTIN RESERVOIR WITHOUT THE APPROVAL OF THE ARKANSAS
RlVERCOMPACT ADMINISTRATION,

(II) THE RULES SHALL IMPOSE CONDITIONS UPON THE LEASE, EXCHANGE, OR LOAN OF
WATER IN THE BANK OUT OF THE ARKANSAS RIVER BASIN SO AS TO BALANCE IN-BASIN
SUPPLY DEMANDS AND IMPACTS OF THE TRANSFER, OUT-OF-BASIN SUPPLY DEMANDS, AND
MAINTENANCE OF THE VALUE OF THE WATER BANKED, THE RULES SHALL SPECIFY THAT
THE BANK SHALL NOT BE OPERATED SO AS TO INCREASE WATER DIVERTED FROM ANOTHER
WATER DIVISION AS SET FORTH IN SECTION 37-92-201. AT A MINIMUM, SUCH RULES SHALL
INCLUDE CONDITIONS REQUIRING WATER AVAILABLE IN THE BANK TO BE MADE
AVAILABLE FOR USE WITHIN THE BASIN OF THE ARKANSAS RIVER PRIOR TO MAKING SUCH
WATER AVAILABLE FOR USE IN OTHER RIVER BASINS IN COLORADO.

http://www.state.co.us/gov_dir/leg_dir/olls/sI2001/sL284.HTM

06/05/2002