BOARD00378

• Board Meeting Date: 2/13/2001
• Description: Pending and Proposed Legislation - HB ?, Water Bank
• Board Meetings - Doc Type: Memo

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1/19/01

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efficiencies of water distribution and use, and increase the availability of
water-related information. Establishes judicial review of the rules by the
water division 2 water judge. Suspends effectiveness of the rules until the
general assembly appropriates the necessary moneys.

Be it enacted by the General Assembly of the State of Colorado:
SECTION 10 Title 37, Colorado Revised Statutes, is amended
BY THE ADDITION OF A NEW ARTICLE to read:
ARTICLE 80.5

Arkansas Water Bank

37-80.5-101. Short title. THIs ARTICLE SHALL BE KNOWN AND MAY
BE CITED AS THE "ARKANSAS WATER BANK ACT".
37-80.5-102. Legislative declaration. THE GENERAL ASSEMBLY
HEREBY FlNDS, DETERMINES, AND DECLARES TIIA T THE PURPOSE OF THIS

ARTICLE IS TO TEST THE CONCEPT OF A WATER BANK TO BE OPERATED

UNDER STRICT PARAMETERS wrmOUT THE NEED FOR ADJUDICATION, THE

PILOT WATER BANK PROGRAM CREATED BY TIllS LEGISLATION IS !NIENDED

TO SIMPLIFY AND IMPROVE THE EFFICIENCY OF THE APPROVAL OF WATER

LEASING, LOANS, AND EXCHANGES OF STORED WATER WITHIN THE
ARKANSAS RIVER BASIN, REDUCE THE COSTS ASSOCIATED WITH SUCH
TRANSACTIONS, ENHANCE THE EFFICIENCIES OF WATER DISTRIBUTION AND

USE, AND TO INCREASE THE AVAILABILITY OF WATER-RELATED

INFORMATION.

THE GENERAL ASSEMBLY AFFIRMS THE STATE

CONSTITUTION'S RECOGNITION OF WATER RIGHTS AS A PRIVATE

USUFRUCTORY PROPERTY RIGHT, AND TillS ARTICLE IS NOT INTENDED TO
RESTRICT THE ABILITY OF THE HOLDER OF A WATER RIGHT FROM SELLING,
LEASING, OR EXCHANGING THAT WATER RIGHT IN ANY OTHER MANNER

Capital letters indicate new material to be added to existing statute,
Dashes through the words indicate deletions from existing statute.

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