NV SB342

Authorizes the State Engineer to coordinate with water rights holders who wish to voluntarily relinquish their groundwater rights through contract or legal agreement in designated groundwater basins

Requires the State Engineer to permanently retire any water rights relinquished through such agreements, removing that water from future appropriation

Adds retired groundwater rights as a new mandatory basis for the State Engineer to reject water appropriation permit applications

Clarifies that permits cancelled solely for failure to timely file required documents are not eligible for the effective date restoration provision that applies to other cancelled permits appealed through public hearing