2011 SB 394 Conserved Water Put to Beneficial Use

CVNM Position:

Oppose

Year:

2011

Sponsors:

John Ryan

Topics:

Water

Legislative Info:

SB 394 on nmlegis.gov »

Description

SB394 would have merged two existing water conservation incentives to allow water rights holders to ‘double-dip’. Under current law, water rights owners can choose between two incentives for conserving water: putting the water to beneficial use (including selling or leasing it) or receiving a tax credit for the conserved water. This bill would have allowed owners to put conserved water to beneficial use while still collecting the tax credit, which essentially meant that taxpayers would have been paying an individual to reallocate water instead of conserving it.

Outcome

SB394 died on the Senate floor (19-20).