SB 1301 Summary

• Amends Arizona Revised Statutes section 45-2457 regarding the Arizona Water Banking Authority's operations and distribution of long-term storage credits.

• Allows the authority to distribute long-term storage credits directly to CAWCD municipal and industrial subcontractors (in addition to CAWCD itself) when the Colorado River diversions are disrupted by shortages or CAP operational issues.

• Prohibits subcontractors who receive distributed credits from selling them and makes subcontractors responsible for all fees and recovery costs associated with the credits.

• Updates language references from "per cent" to "percent" for clarity.