Amend HB 3298 (house committee printing) as follows:

(1)  In SECTION 1 of the bill (page 1, lines 18-21), strike Subdivision (4) of the section and substitute the following:

(4)  improving the efficient use of water in the state may be promoted by improving the laws regarding water transfers and markets and by using an integrated network of both natural and constructed water conveyance infrastructure.

(2)  In SECTION 3 of the bill (page 1, line 24, through page 2, line 5), strike Subsection (a) of the section and substitute the following:

(a)  The board shall conduct a study to evaluate:

(1)  improvements to:

(A)  the transfer of water entitlements; and

(B)  the functioning of statewide and regional water markets; and

(2)  the opportunities for and barriers to the potential establishment of a statewide or regional water grid, including an integrated network of natural and constructed works, including pipelines, pumping stations, and reservoirs, for the conveyance of water between and within river basins, water sources, and areas of water use in the state.

(3)  In SECTION 3 of the bill, in Subsection (b) of the section (page 2, lines 12 and 13), strike Subdivision (3) of the subsection and substitute the following:

(3)  examine case studies of water markets in other jurisdictions both within and outside the United States to determine best practices and risks described in those case studies;

(4)  In SECTION 3 of the bill, in Subsection (b) of the section (page 3, lines 2-4), strike Subdivision (8) of the subsection and substitute the following:

(8)  evaluate opportunities for and barriers to the integration of the establishment, construction, operation, and management of the water grid into the state water planning process;

(5)  In SECTION 3 of the bill, in Subsection (b)(11) of the section, between "infrastructure" and "into" (page 4, line 2), insert "and natural systems".