CA AB2550

Requires the State Water Resources Control Board to financially compensate water permit holders unable to divert their full authorized amount due to board-issued instream flow curtailments, effective January 1, 2017

Extends compensation requirement to persons filing statements of diversion and use who cannot divert the same amount in the following year due to instream flow curtailments

Sets compensation rate per acre-foot comparable to average prices paid for similar water under similar circumstances in the state, accounting for development and delivery costs

Calculates compensation based on the difference between authorized diversion amounts and curtailment-reduced amounts for permit holders and statement filers respectively

Includes legislative findings that instream flow curtailments create direct economic costs to Californians and rural agricultural communities, and that monetary compensation would support alternative water sources and conservation efforts