Establishes a pilot local water management program in water resource inventory area 32.

Authorizes: (1) Creation of a water management board;

(2) Water banking for water rights on a temporary or permanent basis; and

(3) Water users in a planning area to develop a local water plan.

Provides a system with terms, guidance, elements, and criteria for water banking and the local water plan.

Expires June 30, 2019.