AZ SB1288

Requires the Arizona Department of Water Resources director to accept groundwater physical availability analyses issued on or before May 31, 2023 as valid demonstrations for certificates of assured water supply.

Allows applicants holding qualifying analyses to submit a sworn statement agreeing to reduce their remaining reserved groundwater volume by 15% in exchange for receiving a certificate of assured water supply.

Establishes that when new certificates are issued based on older analyses, water demand assumptions from the original application submission date apply, with the volume difference remaining available for future subdivision development.

Defines "analysis" as a director's determination that one or more criteria for a certificate of assured water supply have been demonstrated for a development.

Declared an emergency measure, making the law operative immediately upon enactment.