Summary:

 Senate Bill 37 (SB 37) creates the Strategic Water Reserve Fund to be administered by the Interstate Stream Commission. It provides that the Strategic Water Reserve shall be used to assist in water management and conservation efforts designed to support aquifer recharge or reduce ground water depletion SB 37 allows the Interstate Stream Commission to prioritize water transactions that provide supplementary benefits in addition to at least one authorized purpose. SB 37 makes an appropriation.

 

Legislation Overview:

 Senate Bill 37 (SB 37) creates the Strategic Water Reserve Fund in Chapter 72, Article 14 NMSA 1978. The Interstate Stream Commission (ISC) will administer the fund that is nonreverting except for any unexpended or unencumbered balance exceeding fifteen million dollars ($15,000,000), which reverts to the GF at the end of a FY. It limits the use of the Fund to no more than twenty-five percent of the money expended for the purpose of aquifer recharge and ground water depletion reduction.
SB 37 expands the purposes for which the SWR may be used to include assistance in water management and water conservation efforts designed to support aquifer recharge or reduce ground water depletion in order to promote stream flow or other environmental benefits. It prohibits the conversion of surface water leased or purchased for the reserve to ground water via any methods other than natural, passive infiltration through the streambed.
SB 37 mandates when the ISC sets priorities of the acquisition of water or water rights and storage rights for the SRW pursuant to Subsection C of this section, that the ISC consider whether the acquisition will provide supplementary benefits, including supporting traditional and cultural practices, habitat improvement, or recreational opportunities. If it provides a supplementary benefit and meets one of the main purposes for use of the SWR, the ISC may give that acquisition priority. 

 

Current Law:

 The ISC administers the Strategic Water Reserve which buys water rights in the state for water conservation efforts which are used to assist with compliance of interstate stream compacts and court decrees and to assist in water management efforts for the benefit of threatened or endangered aquatic or obligate riparian species or in a program intended to avoid additional listings of species.

 

Amendments:

 2/12/25
The Senate Conservation Committee amended SB 37 (SB 37A SCONC) by clarifying that the water management and water conservation efforts under this new purpose for the Strategic Water Reserve is for aquifer recharge and water conservation efforts.  It changes the new section on establishing priorities for acquisition of water or water rights by broadening the consideration to potential supplementary benefits as defined rather than considering the supplementary benefits for that particular acquisition.