HB 2787 Summary

• Amends groundwater augmentation and conservation assistance fee transfers to water authorities, changing "more than" to "less than" $200,000 annual transfers from collected fees.

• Expands the definition of "improvement" in special assessment law to include water assets such as groundwater, surface water, treated wastewater, Colorado River water, stored water, long-term storage credits, and water permits.

• Authorizes county improvement districts to acquire, create, maintain, and pledge water assets for municipal, industrial, commercial, or domestic development purposes.

• Permits domestic water and wastewater improvement districts to undertake water supply development using borrowed funds or financial assistance from the water infrastructure finance authority of Arizona.

• Allows districts to enter into financial assistance loan repayment agreements with the water infrastructure finance authority to fund water supply development projects, wastewater facilities, and drinking water treatment facilities.