This bill proposes to amend section 45-1022 of the Arizona Revised Statutes, specifically regarding the enrollment of water exchange contracts. Under current law, the validity of any water exchange conducted under such a contract is unaffected by the enrollment process, but it specifies that this applies only to exchanges conducted before a certain date.

The proposed change would update the cutoff date for this provision from "the effective date of this chapter" to "September 30, 1992." This adjustment clarifies the timeline for which water exchanges remain valid despite the enrollment of the contract, ensuring that exchanges prior to the specified date are recognized as valid under the law.

Statutes affected:
Introduced Version: 45-1022