This 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 from this account. The legislation aims to ensure ongoing investment in water infrastructure, particularly in support of the 2024 settlement agreement between surface water and groundwater users in the eastern Snake plain. It emphasizes the importance of sustainable water management for Idaho's economy and commits to a continuous appropriation of $30 million from the general fund to be administered by the Idaho Water Resource Board for various water infrastructure projects.

The bill specifies that the funds will be allocated for a range of projects, including aquifer recharge, water storage and conveyance system development, and emergency repairs to water infrastructure. It also sets a limit that no more than 50% of the appropriated funds can be used within a single board district unless there are no competing applications from other districts. Additionally, the Idaho Water Resource Board is tasked with establishing guidelines for fund allocation and is required to submit an annual report on the expenditures and effectiveness of the funded projects. An emergency clause is included, allowing the act to take effect immediately upon passage and approval.