This bill proposes several updates to current statutes regarding the issuance of certificates of assured water supply, specifically for land located in the Phoenix active management area. It establishes a new process for applicants who submitted their applications between January 26, 2021, and August 31, 2023, allowing the Department of Water Resources to issue a new written determination if certain conditions are met. These conditions include the municipal provider's commitment to calculate and report excess groundwater and offer long-term storage credits to the Central Arizona Groundwater Replenishment District.

Additionally, the bill introduces provisions that clarify the relationship between the issuance of certificates and the physical availability of groundwater, as well as the notification process for eligible applicants. It also stipulates that certificates issued under this new section will be retroactively effective for the year 2023 and includes a sunset clause, repealing the section after December 31, 2028. Overall, the bill aims to streamline the process for obtaining water supply certificates while ensuring sustainable groundwater management.