Governor Doug Ducey announced draft legislation to create the Arizona Water Authority, a new outlet tasked with identifying and developing new, innovative long-term water sources and to acquire and sell water on the State’s behalf.
It will also be able to store water and manage water credits, along with building and acquiring water-related facilities.
Ducey announced the initiative in a white paper on February 25th.
The Authority will consist of a nine-member board appointed by the governor and will, in addition to its other duties, manage the Water Supply Development Revolving Fund and the Long-term Water Augmentation Fund.
A joint legislative oversight committee will be created to review Authority expenditures in excess of $100M.
Funding for the Authority will be included in the next fiscal year budget submittal. (Source)