Roadrunner Capitol Reports
Legislation Detail

S 162 STRATEGIC WATER RESERVE

Sen Elizabeth "Liz" Stefanics

Actions: [4] SCC/SCONC/SFC-SCC-germane-SCONC [7] DP-SFC API.

Scheduled: Not Scheduled

image of sponsor
Summary:
 Senate Bill 162 (SB 162) appropriates fifteen million dollars ($15,000,000) for the Interstate Stream Commission to administer the Strategic Water Reserve Fund.

 
Legislation Overview:
 Senate Bill 162 (SB 162) appropriates fifteen million dollars ($15,000,000) from the General Fund (GF) to the Interstate Stream Commission for expenditure in Fiscal Year (FY) 2023 and subsequent FYs to administer the Strategic Water Reserve Fund (Section 72-14-3.3 NMSA 1978). 

Any unexpended or unencumbered balance remaining at the end of a FY will not revert to the GF.
 
Status Quo:
 Background:
The legislature created the Strategic Water Reserve in 2005. In essence, the reserve is a pool of publicly held water rights dedicated to meet the needs of river-dependent endangered species and to fulfill the state’s water delivery obligations to other states and nations. 
The act authorizes the ISC to implement and administer the reserve including acquiring water or water rights by purchase, lease, or donation for the reserve. According to the Office of State Engineer website, the ISC’s goal is to use the reserve as a tool to achieve sensible and sustainable water policies by balancing water use among cities, industry, agriculture, and the rivers of the state.