The proposed bill would amend current statutes regarding the issuance of certificates of assured water supply by the Arizona Department of Water Resources (ADWR). Under the new provisions, if an applicant requests a review of their application for a certificate of assured water supply for land in the Phoenix active management area, ADWR must issue a new written determination if specific conditions are met, including the application being submitted between January 26, 2021, and August 31, 2023, and the municipal provider submitting a notice of intent to serve. Additionally, the bill introduces requirements for municipal providers regarding the calculation and assignment of long-term storage credits based on excess groundwater delivered, as well as stipulations for the Central Arizona Groundwater Replenishment District's (CAGRD) involvement in purchasing these credits.

Furthermore, the bill establishes that a certificate of assured water supply issued under these new requirements will relate back to calendar year 2023 for the purposes of applications for designation of assured water supply. It also mandates that ADWR notify eligible applicants within ten days of the bill's effective date and allows for the review of pending or withdrawn applications. The provisions of this act are set to be repealed after December 31, 2028, and the act is classified as an emergency measure, allowing for immediate implementation upon the Governor's signature.