Bill > SB37

This bill establishes the Strategic Water Reserve Fund in New Mexico, creating a new financial mechanism to support water management and conservation efforts. The fund will be administered by the Interstate Stream Commission (ISC) and can receive money through distributions, appropriations, gifts, grants, and investments, with any balance over $15 million reverting to the general fund at the end of each fiscal year. The ISC is authorized to purchase, lease, or receive donations of water rights from willing sellers, with strict limitations on how these rights can be acquired and used. Specifically, the water rights can be used to help the state comply with interstate water compacts, support endangered species management, and assist with aquifer recharge or ground water depletion reduction. The bill emphasizes collaborative approaches and requires the ISC to develop priorities for water rights acquisition in consultation with various local and regional stakeholders, including tribal nations, county commissioners, municipalities, and water planning regions. The ISC is also allowed to prioritize water transactions that provide additional benefits like supporting cultural practices, improving habitat, or creating recreational opportunities. Importantly, the bill prohibits the ISC from acquiring water rights through condemnation and ensures that any acquired water rights remain in their original river reach or ground water basin, with a commitment to not adversely impact existing water users.

Agriculture and Natural Resources

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=37&year=25