Governor Bill Richardson today signed legislation that improves the way the
state can acquire water to meet the demand of the Pecos River
Compact.
“These changes are a win for everyone involved,”
Governor Richardson said. “Not only will the state save money while meeting our
water commitments to Texas, but farmers will benefit as
well.”
SB 227 sponsored by Sen. Phil Griego allows the state to
purchase water rights in the Pecos Valley without the extra expense of
purchasing the underlying land as previously mandated. It also enables the
Interstate Stream Commission to sell parcels of land previously acquired for
water rights, which will save the state money on upkeep of the
land.
Farmers in the Pecos Valley will benefit from the new law
because it enables them to sell part of their water while keeping their
land.
New Mexico and
Texas signed
the Pecos River Compact in 1948 to provide for equitable division and
apportionment of the use of the river.
The new law takes effect
immediately.
