Sec. 5. Storage agreements
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/bill/117/s/3308/rs/section-5·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Notwithstanding section 2116 of the Revised Statutes (commonly known as the Indian Trade and Intercourse Act ) ( 25 U.S.C. 177 ) or any other provision of law, the CRIT is authorized to, subject to the approval of the Secretary under section 6(a), and has the sole authority to, enter into an agreement, including with the Arizona Water Banking Authority (or successor agency or entity), for the storage of a portion of the consumptive use, or the water received under an exchange pursuant to an exchange agreement under section 4, at 1 or more underground storage facilities or groundwater savings facilities off the Reservation (referred to in this Act as a storage agreement ), on the condition that the facility shall be located in the Lower Basin in the State.
Any storage agreement entered into under this section shall be in accordance with applicable Federal and State law. The CRIT may assign or sell any longterm storage credits accrued as a result of a storage agreement, on the condition that the assignment or sale is in accordance with applicable State law.
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