This bill amends sections 61-302 and 61-305 of the Revised Statutes Cumulative Supplement, 2024, concerning the Perkins County Canal Project. It restates the intent of the project, emphasizing the importance of protecting Nebraska's water rights under the South Platte River Compact. Notably, the language changes from "shall" to "may" regarding the development of the canal, indicating a shift from a mandatory to a discretionary approach. Additionally, the bill establishes a requirement for the State Treasurer to transfer five hundred million dollars from the Perkins County Canal Project Fund to the Water Sustainability Fund by June 30, 2025.

The bill also outlines the administration of the Perkins County Canal Project Fund by the Department of Natural Resources, detailing the sources of funding and investment strategies. It mandates the department to conduct a comprehensive study on the canal's development, including cost estimates, timelines, and potential impacts on drinking water supplies for major cities. The findings from this study are to be presented to the Legislature by December 31, 2022. The original sections of the law are repealed, and the bill is declared to take effect immediately due to the existence of an emergency.

Statutes affected:
Introduced: 61-302, 61-305