AZ SB1058

Changes the Arizona Water Banking Authority's annual report submission deadline from July 1 to April 1 of each year to the governor, president of the senate, and speaker of the house of representatives.

Requires the annual report to include an accounting of all monies expended from and remaining in the banking fund, amount of water stored, and number of long-term storage credits distributed or extinguished.

Mandates the report describe water banking services and interstate water banking activities planned for the following ten-year period, including capacity projections for storing Colorado River water through the Central Arizona Project.

Specifies the report must address how water banking activities support protecting municipal and industrial water users from Colorado River shortages, fulfilling state water management objectives, and implementing Indian water rights settlements.

Allows the authority to include any other matters determined relevant to the policy and purposes of the water banking chapter in the annual report.