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A BILL TO BE ENTITLED
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AN ACT
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relating to the calculation of current market value of certain |
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water rights by the Rio Grande Regional Water Authority. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 49.509, Water Code, is amended by |
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amending Subsection (a) and adding Subsection (d) to read as |
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follows: |
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(a) Subject to Subsection (d), the [The] Rio Grande Regional |
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Water Authority annually at its January meeting shall calculate the |
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current market value by using the average price per acre-foot of |
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municipal use water after conversion from irrigation use water to |
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municipal use water with a municipal priority of allocation under |
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commission rules of the last three purchases involving: |
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(1) a municipal water supplier; |
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(2) a party other than a municipal water supplier; and |
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(3) at least 100 acre-feet of municipal use water, |
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with municipal priority of allocation. |
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(d) The Rio Grande Regional Water Authority shall exclude |
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from the calculation of current market value under Subsection (a) |
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any sale between a municipal water supplier and a district if any |
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part of the district's territory is subject to the municipal water |
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supplier's certificate of convenience and necessity. |
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SECTION 2. The change in law made by this Act applies only |
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to a calculation of current market value of certain water rights |
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made by the Rio Grande Regional Water Authority on or after the |
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effective date of this Act. A calculation of current market value |
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that is made before the effective date of this Act is governed by |
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the law in effect when the calculation was made, and the former law |
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continues in effect for that purpose. |
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SECTION 3. This Act takes effect September 1, 2009. |
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