PROPOSED
HOUSE OF REPRESENTATIVES AMENDMENTS TO H.B. 2512
(Reference to printed bill)
Page 18, line 9, after "area" insert "THE DIRECTOR SHALL CALCULATE THE INITIAL VOLUME OF EXTINGUISHMENT CREDITS FOR THE EXTINGUISHMENT OF A GRANDFATHERED RIGHT AS FOLLOWS"
Between lines 9 and 10, insert:
"1. FOR THE EXTINGUISHMENT OF A TYPE 2 NON-IRRIGATION GRANDFATHERED RIGHT, MULTIPLY THE NUMBER OF ACRE-FEET INDICATED ON THE CERTIFICATE OF GRANDFATHERED RIGHT BY one hundred.
2. FOR THE EXTINGUISHMENT OF ALL OR PART OF AN IRRIGATION GRANDFATHERED RIGHT, OR ALL OR PART OF A TYPE 1 NON-IRRIGATION GRANDFATHERED RIGHT, MULTIPLY 1.5 ACRE-FEET BY THE NUMBER OF IRRIGATION ACRES ASSOCIATED WITH THE EXTINGUISHED IRRIGATION GRANDFATHERED RIGHT OR THE NUMBER OF ACRES TO WHICH THE EXTINGUISHED TYPE 1 NON-IRRIGATION GRANDFATHERED RIGHT IS APPURTENANT, AND THEN MULTIPLY THAT PRODUCT BY one hundred, EXCEPT THAT:
(a) IF ONLY A PORTION OF AN IRRIGATION GRANDFATHERED RIGHT OR A TYPE 1 NON-IRRIGATION GRANDFATHERED RIGHT IS EXTINGUISHED, ONLY THOSE ACRES ASSOCIATED WITH THE PORTION OF THE RIGHT THAT IS EXTINGUISHED SHALL BE INCLUDED IN THE CALCULATION.
(b) IF AN EXTINGUISHED IRRIGATION GRANDFATHERED RIGHT HAS A DEBIT BALANCE IN THE CORRESPONDING FLEXIBILITY ACCOUNT ESTABLISHED pursuant to section 45-467, THE DIRECTOR SHALL SUBTRACT THE AMOUNT OF THE DEBIT FROM THE AMOUNT OF THE EXTINGUISHMENT CREDITS.
3. FOR GRANDFATHERED RIGHTS EXTINGUISHED AFTER SEPTEMBER 1, 2018, IF THE AMOUNT OF THE EXTINGUISHMENT CREDITS REMAINING UNUSED ON THE SIXTH, ELEVENTH, SIXTEENTH OR TWENTY-FIRST ANNIVERSARY OF THE DATE OF EXTINGUISHMENT IS GREATER THAN AN AMOUNT CALCULATED BY MULTIPLYING THE INITIAL VOLUME OF EXTINGUISHMENT CREDITS BY THE APPLICABLE PERCENTAGE ESTABLISHED IN THIS subseCTION, THE AMOUNT OF UNUSED CREDITS SHALL BE REDUCED TO AN AMOUNT CALCULATED BY MULTIPLYING THE INITIAL VOLUME OF EXTINGUISHMENT CREDITS BY THE APPLICABLE PERCENTAGE.
4. FOR THE PURPOSES OF DETERMINING THE REDUCTION IN THE AMOUNT OF UNUSED CREDITS AS PROVIDED IN paragraph 3 of this sUBSECTION, THE APPLICABLE PERCENTAGES are AS FOLLOWS:
(a) FOR CREDITS REMAINING ON THE SIXTH ANNIVERSARY OF THE DATE OF EXTINGUISHMENT, SEVENTY-five PERCENT.
(b) FOR CREDITS REMAINING ON THE ELEVENTH ANNIVERSARY OF THE DATE OF EXTINGUISHMENT, fifty PERCENT.
(c) FOR CREDITS REMAINING ON THE SIXTEENTH ANNIVERSARY OF THE DATE OF EXTINGUISHMENT, twenty-five PERCENT.
(d) FOR CREDITS REMAINING ON THE TWENTY-FIRST ANNIVERSARY OF THE DATE OF EXTINGUISHMENT, zero PERCENT.
5. FOR the PURPOSES OF paragraph 3 of this SUBSECTION, THE AMOUNT OF EXTINGUISHMENT CREDITS REMAINING UNUSED ON THE ANNIVERSARY OF THE DATE OF EXTINGUISHMENT OF A GRANDFATHERED RIGHT SHALL BE THE INITIAL VOLUME OF EXTINGUISHMENT CREDITS ISSUED FOR THE EXTINGUISHMENT OF THE RIGHT, reduced by both of the following:
(a) THE AMOUNT OF ANY OF THE EXTINGUISHMENT CREDITS PREVIOUSLY PLEDGED TO A CERTIFICATE OF ASSURED WATER SUPPLY OR DESIGNATION OF ASSURED WATER SUPPLY PURSUANT TO rules adopted by the director AND REPORTED TO THE DEPARTMENT as HAVING BEEN USED.
(b) The amount of any previous reductions made to the extinguishment credits pursuant to paragraph 3 of this subsection."
Renumber to conform
Page 18, line 13, strike "rule making" insert "rulemaking"
Lines 14 and 15, strike "rule making" insert "rulemaking"
Amend title to conform