If enacted, this bill would update current statutes by mandating the Arizona State Land Department (ASLD) to initiate a public stakeholder process within 120 days of the bill's effective date. This process would focus on developing a procedure for allocating Central Arizona Project (CAP) water that is currently allocated to the ASLD, specifically for parcels of state trust land that may be sold or leased. The bill introduces new language that specifies this requirement and references the U.S. Secretary of the Interior's final allocation of CAP water from January 10, 1983.

The bill does not alter any existing provisions of the law but adds the new requirement for the ASLD to engage in stakeholder discussions regarding the allocation of CAP water. The current law remains unchanged, and the bill's provisions would take effect on the general effective date. Overall, the bill aims to enhance the management and allocation of water resources associated with state trust lands.