SB 5479 - DIGEST

     Provides that, in accordance with the policies set forth in this act, the legislature intends by this act to enact a comprehensive set of laws to govern voluntary transfers of and changes in water rights, including:  (1) Expressly authorizing additional types of transfers of and changes in water rights in which the water code is silent or does not allow before the effective date of this section;

     (2) providing more opportunity for compensatory and consensual mechanisms in which third-party interests may be addressed and transfers allowed that would otherwise be prevented by the water code's no impairment rule;

     (3) improving the processing of applications for transfers and providing for expedited decisions upon short-term transfers, and ensuring that administrative functions relating to review of proposed transfers are adequately funded and do not require shifting fiscal resources from other important water resource management activities;

     (4) improving the collection, management, and accessibility of information relating to water rights transfers; and

     (5) providing assistance locally and at the state level to encourage water transfer transactions and the development of markets for water transfers generally.