The bill amends Chapter 17, Title 42 of the Idaho Code by adding a new section, 42-1760A, which establishes the Water Management Account and outlines provisions for appropriations and expenditures related to water infrastructure. The legislature aims to invest in water infrastructure to support the 2024 settlement agreement between surface water and groundwater users in the eastern Snake plain, emphasizing the importance of sustainable water resources for Idaho's economy. The bill appropriates $30 million from the general fund to be administered by the Idaho Water Resource Board for various water infrastructure projects, including aquifer recharge, water storage development, and emergency repairs.

Additionally, the bill stipulates that no more than 50% of the appropriated funds can be allocated to a single board district unless there are no competing applications from other districts. The Idaho Water Resource Board is tasked with establishing guidelines for fund allocation and must submit an annual report to the governor and legislature detailing project expenditures and effectiveness. The bill also encourages collaboration with state and federal agencies, local governments, and private entities to enhance funding and resources for water infrastructure development. An emergency clause is included, allowing the act to take effect immediately upon passage and approval.