Bill > HB121

This bill amends Section 72-6-3 of the New Mexico Statutes to specify that a water right lease can be effective immediately or for future use, but it cannot be used to accumulate water from year to year or substantially expand water use in a way that would harm other users. The bill also clarifies the maximum lease terms, including a 40-year lease option for certain entities like municipalities and a 10-year limit for leases of water rights from acequias (traditional community irrigation ditches). The provisions of the bill apply to lease applications filed with the state engineer on or after July 1, 2025, and the effective date of the bill is also July 1, 2025.

Agriculture and Natural Resources

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=121&year=23