Substitute the following for the King amendment to the King
amendment to CSSB 1:
      Amend Floor Amendment No. 14 (by King) to CSSB 1 by striking
the text of the amendment and substituting the following:
      Amend CSSB 1 in Article 2 of the bill by inserting the
following appropriately numbered SECTION of the bill and
renumbering the subsequent SECTIONS of the bill appropriately:
      SECTION ____.  Subchapter B, Chapter 11, Water Code, is
amended by adding Section 11.0275 to read as follows:
      Sec. 11.0275.  FAIR MARKET VALUE.  Whenever the law requires
the payment of fair market value for a water right, fair market
value shall be determined by the amount of money that a willing
buyer would pay a willing seller, neither of which is under any
compulsion to buy or sell, for the water in an arms-length
transaction and shall not be limited to the amount of money that
the owner of the water right has paid or is paying for the water.