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<br />001271 <br /> <br />Offstream storage of Colorado River water, Interstate Delivery of <br />Intentionally Created Unused Apportionment and Redemption of <br />storage Credits in the Lower Division states <br /> <br />Benefit-cost Analysis/Unfunded Mandates Reform Act Analysis <br /> <br />Introduction <br />The purpose of this analysis is to satisfy the requirements of <br />E.O. 12866 and the Unfunded Mandates Reform Act (UMRA). Both <br />E.O. 12866 and UMRA require agencies to undertake benefit-cost <br />analysis for regulatory actions. The material presented below <br />analyzes the benefits and costs of the regulatory action as well <br />as its potential effects on state, local, and tribal governments. <br />The benefits and costs are evaluated in comparison to the <br />conditions that would be reasonably expected to exist absent this <br />rulemaking. <br /> <br />policy Rationale <br />state of Arizona Request for Requlation <br />In April 1996, former Arizona Governor Fife symington signed <br />Arizona House Bill 2494 creating the Arizona Water Banking <br />Authority (AWBA). The purpose of the AWBA is: <br /> <br />1. To increase Arizona's utilization of its Colorado River <br />water apportionment, <br />2. To store water in existing underground recharge sites to <br />protect against future water shortages and fulfill the <br />groundwater management objectives as provided by the Arizona <br />Groundwater Code, and <br />3. To provide an opportunity to store water for use in <br />settlement of Indian water right claims. <br /> <br />In addition to the above-mentioned purposes of the AWBA, the AWBA <br />Act (ARS 45-2401) authorizes interstate banking and redemption <br />of Colorado River water credits among the states of Arizona, <br />California, and Nevada (Lower Division States). To ensure the <br />ability of the Authority to engage in interstate banking, the <br />AWBA Act (ARS 45-2427 C.1.) requires that the Secretary of the <br />Interior (Secretary) promulgate regulations,"... that facilitate <br />and allow the contractual distribution of unused entitlement <br />under article II(B) (6) of the decree.'" <br /> <br />The united States Department of the Interior, Bureau of <br />Reclamation (Reclamation), is proposing this rule in response to <br />a request by the State of Arizona for a regulation that satisfies <br />the requirement of the AWBA Act. The proposed rule will <br />facilitate: <br /> <br />, The decree referred to in the AWBA Act is Arizona v. <br />California, Decree of March 9, 1964, 376 U.S. 340. <br /> <br />2 <br />