SB 1386 Summary

• Establishes "contract land" provisions allowing real property in active management areas to qualify for water augmentation authority contracts through recorded declarations, requiring property owners to pay annual contract assessments.

• Creates new annual contract assessment collection mechanism where assessments are charged by August and collected as liens by county boards of supervisors using standard tax collection procedures.

• Expands county water augmentation authorities' funding by increasing annual transfers from groundwater augmentation and conservation assistance fees from a minimum of $200,000 to an unspecified amount.

• Adds "water assets" and "water supply development" to the list of improvements that county improvement districts can acquire, create, and maintain for municipal, industrial, commercial, or domestic development purposes.

• Authorizes domestic water and wastewater improvement districts to undertake water supply development projects using financial assistance loans from the water infrastructure finance authority of Arizona.