SB 6732 - DIGEST

(SEE ALSO PROPOSED 1ST SUB)

Authorizes the department of community, trade, and economic development to provide grants from the stock water account created in this act to any county-based economic development agency that makes application for such grants, to the extent such funds are available.

Provides that an economic development agency receiving a grant under this act may only use the grant to acquire, lease, or otherwise obtain water for stock-watering purposes.

Authorizes an economic development agency that has acquired, leased, or otherwise obtained water under this act to lease or sell water rights acquired to persons who intend to put the water to beneficial use for stock-watering purposes, on a first-come, first-served basis.

Requires any revenue derived from the lease of waters under this act to be placed in the stock water account.

Directs the department to seek federal and local funds to augment state funding for the stock water account created in this act.