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 not affected by the enrollment process, but it specifies that this applies 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 means that any water exchanges conducted before September 30, 1992, would remain valid regardless of the enrollment status of the contract, thereby clarifying the timeline for the validity of these exchanges.

Statutes affected:
Introduced Version: 45-1022