OK SB1792

Requires compensation from any sale or transfer of surface water to the state be reserved for public uses benefiting communities in the basin area where the water originated.

Directs annual allocation of water sale compensation funds to municipal or county governments in the basin area through the Rural Economic Action Plan.

Prohibits the Legislature from reducing Rural Economic Action Plan allocations with these water sale compensation funds.

Requires expenditure proposals for water sale compensation funds to follow the same procedures as Rural Economic Action Plan fund proposals through local councils of government.

Declares an emergency effective upon passage and approval.