Amended IN Assembly March 23, 2023 CALIFORNIA LEGISLATURE 20232024 REGULAR SESSION Assembly Bill No. 1205Introduced by Assembly Member Bauer-KahanFebruary 16, 2023 An act to amend Section 1737 of add Section 100.1 to the Water Code, relating to water.LEGISLATIVE COUNSEL'S DIGESTAB 1205, as amended, Bauer-Kahan. Water: permits and licenses: temporary changes: water or water rights transfers. Water rights: sale, transfer, or lease: agricultural lands.Existing law declares that, because of the conditions prevailing in this state, the general welfare requires that the water resources of the state be put to beneficial use to the fullest extent of which they are capable, that the waste or unreasonable use or unreasonable method of use of water be prevented, and that the conservation of the water is to be exercised with a view to the reasonable and beneficial use of the water in the interest of the people and for the public welfare.This bill would declare that the sale, transfer, or lease of an interest in any water right for profit, on or below agricultural lands within the state by an investment fund, shall not be considered a reasonable or beneficial use of water.Existing law authorizes the State Water Resources Control Board to consider a petition for a long-term water or water rights transfer involving a change of point of diversion, place of use, or purpose of use. Existing law requires a long-term transfer to be for a period over one year. Existing law requires, after the expiration of that long-term transfer period, all rights to automatically revert to the original holders of the right without any action by the board.This bill would make a nonsubstantive change to that later provision.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO Bill TextThe people of the State of California do enact as follows:SECTION 1. Section 100.1 is added to the Water Code, to read:100.1. (a) For the purposes of this section, the following definitions apply:(1) Agricultural land has the same meaning as defined in Section 3508 of Title 7 of the United States Code. (2) Investment fund means a private equity fund, public equity fund, venture capital fund, hedge fund, fixed income fund, real estate fund, infrastructure fund, or similar pooled investment entity that is, or holds itself out as being, engaged primarily, or proposes to engage primarily, in the business of investing, reinvesting, owning, holding, or trading securities or other assets.(b) It is hereby declared that the sale, transfer, or lease of an interest in any water right for profit, on or below agricultural lands within the state by an investment fund, shall not be considered a reasonable or beneficial use of water.SECTION 1.Section 1737 of the Water Code is amended to read:1737.Following the expiration of the period of the long-term transfer, all rights shall automatically revert to the original holders of the right without any action by the board.
Amended IN Assembly March 23, 2023 CALIFORNIA LEGISLATURE 20232024 REGULAR SESSION Assembly Bill No. 1205Introduced by Assembly Member Bauer-KahanFebruary 16, 2023 An act to amend Section 1737 of add Section 100.1 to the Water Code, relating to water.LEGISLATIVE COUNSEL'S DIGESTAB 1205, as amended, Bauer-Kahan. Water: permits and licenses: temporary changes: water or water rights transfers. Water rights: sale, transfer, or lease: agricultural lands.Existing law declares that, because of the conditions prevailing in this state, the general welfare requires that the water resources of the state be put to beneficial use to the fullest extent of which they are capable, that the waste or unreasonable use or unreasonable method of use of water be prevented, and that the conservation of the water is to be exercised with a view to the reasonable and beneficial use of the water in the interest of the people and for the public welfare.This bill would declare that the sale, transfer, or lease of an interest in any water right for profit, on or below agricultural lands within the state by an investment fund, shall not be considered a reasonable or beneficial use of water.Existing law authorizes the State Water Resources Control Board to consider a petition for a long-term water or water rights transfer involving a change of point of diversion, place of use, or purpose of use. Existing law requires a long-term transfer to be for a period over one year. Existing law requires, after the expiration of that long-term transfer period, all rights to automatically revert to the original holders of the right without any action by the board.This bill would make a nonsubstantive change to that later provision.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO
Amended IN Assembly March 23, 2023
Amended IN Assembly March 23, 2023
CALIFORNIA LEGISLATURE 20232024 REGULAR SESSION
Assembly Bill
No. 1205
Introduced by Assembly Member Bauer-KahanFebruary 16, 2023
Introduced by Assembly Member Bauer-Kahan
February 16, 2023
An act to amend Section 1737 of add Section 100.1 to the Water Code, relating to water.
LEGISLATIVE COUNSEL'S DIGEST
## LEGISLATIVE COUNSEL'S DIGEST
AB 1205, as amended, Bauer-Kahan. Water: permits and licenses: temporary changes: water or water rights transfers. Water rights: sale, transfer, or lease: agricultural lands.
Existing law declares that, because of the conditions prevailing in this state, the general welfare requires that the water resources of the state be put to beneficial use to the fullest extent of which they are capable, that the waste or unreasonable use or unreasonable method of use of water be prevented, and that the conservation of the water is to be exercised with a view to the reasonable and beneficial use of the water in the interest of the people and for the public welfare.This bill would declare that the sale, transfer, or lease of an interest in any water right for profit, on or below agricultural lands within the state by an investment fund, shall not be considered a reasonable or beneficial use of water.Existing law authorizes the State Water Resources Control Board to consider a petition for a long-term water or water rights transfer involving a change of point of diversion, place of use, or purpose of use. Existing law requires a long-term transfer to be for a period over one year. Existing law requires, after the expiration of that long-term transfer period, all rights to automatically revert to the original holders of the right without any action by the board.This bill would make a nonsubstantive change to that later provision.
Existing law declares that, because of the conditions prevailing in this state, the general welfare requires that the water resources of the state be put to beneficial use to the fullest extent of which they are capable, that the waste or unreasonable use or unreasonable method of use of water be prevented, and that the conservation of the water is to be exercised with a view to the reasonable and beneficial use of the water in the interest of the people and for the public welfare.
This bill would declare that the sale, transfer, or lease of an interest in any water right for profit, on or below agricultural lands within the state by an investment fund, shall not be considered a reasonable or beneficial use of water.
Existing law authorizes the State Water Resources Control Board to consider a petition for a long-term water or water rights transfer involving a change of point of diversion, place of use, or purpose of use. Existing law requires a long-term transfer to be for a period over one year. Existing law requires, after the expiration of that long-term transfer period, all rights to automatically revert to the original holders of the right without any action by the board.
This bill would make a nonsubstantive change to that later provision.
## Digest Key
## Bill Text
The people of the State of California do enact as follows:SECTION 1. Section 100.1 is added to the Water Code, to read:100.1. (a) For the purposes of this section, the following definitions apply:(1) Agricultural land has the same meaning as defined in Section 3508 of Title 7 of the United States Code. (2) Investment fund means a private equity fund, public equity fund, venture capital fund, hedge fund, fixed income fund, real estate fund, infrastructure fund, or similar pooled investment entity that is, or holds itself out as being, engaged primarily, or proposes to engage primarily, in the business of investing, reinvesting, owning, holding, or trading securities or other assets.(b) It is hereby declared that the sale, transfer, or lease of an interest in any water right for profit, on or below agricultural lands within the state by an investment fund, shall not be considered a reasonable or beneficial use of water.SECTION 1.Section 1737 of the Water Code is amended to read:1737.Following the expiration of the period of the long-term transfer, all rights shall automatically revert to the original holders of the right without any action by the board.
The people of the State of California do enact as follows:
## The people of the State of California do enact as follows:
SECTION 1. Section 100.1 is added to the Water Code, to read:100.1. (a) For the purposes of this section, the following definitions apply:(1) Agricultural land has the same meaning as defined in Section 3508 of Title 7 of the United States Code. (2) Investment fund means a private equity fund, public equity fund, venture capital fund, hedge fund, fixed income fund, real estate fund, infrastructure fund, or similar pooled investment entity that is, or holds itself out as being, engaged primarily, or proposes to engage primarily, in the business of investing, reinvesting, owning, holding, or trading securities or other assets.(b) It is hereby declared that the sale, transfer, or lease of an interest in any water right for profit, on or below agricultural lands within the state by an investment fund, shall not be considered a reasonable or beneficial use of water.
SECTION 1. Section 100.1 is added to the Water Code, to read:
### SECTION 1.
100.1. (a) For the purposes of this section, the following definitions apply:(1) Agricultural land has the same meaning as defined in Section 3508 of Title 7 of the United States Code. (2) Investment fund means a private equity fund, public equity fund, venture capital fund, hedge fund, fixed income fund, real estate fund, infrastructure fund, or similar pooled investment entity that is, or holds itself out as being, engaged primarily, or proposes to engage primarily, in the business of investing, reinvesting, owning, holding, or trading securities or other assets.(b) It is hereby declared that the sale, transfer, or lease of an interest in any water right for profit, on or below agricultural lands within the state by an investment fund, shall not be considered a reasonable or beneficial use of water.
100.1. (a) For the purposes of this section, the following definitions apply:(1) Agricultural land has the same meaning as defined in Section 3508 of Title 7 of the United States Code. (2) Investment fund means a private equity fund, public equity fund, venture capital fund, hedge fund, fixed income fund, real estate fund, infrastructure fund, or similar pooled investment entity that is, or holds itself out as being, engaged primarily, or proposes to engage primarily, in the business of investing, reinvesting, owning, holding, or trading securities or other assets.(b) It is hereby declared that the sale, transfer, or lease of an interest in any water right for profit, on or below agricultural lands within the state by an investment fund, shall not be considered a reasonable or beneficial use of water.
100.1. (a) For the purposes of this section, the following definitions apply:(1) Agricultural land has the same meaning as defined in Section 3508 of Title 7 of the United States Code. (2) Investment fund means a private equity fund, public equity fund, venture capital fund, hedge fund, fixed income fund, real estate fund, infrastructure fund, or similar pooled investment entity that is, or holds itself out as being, engaged primarily, or proposes to engage primarily, in the business of investing, reinvesting, owning, holding, or trading securities or other assets.(b) It is hereby declared that the sale, transfer, or lease of an interest in any water right for profit, on or below agricultural lands within the state by an investment fund, shall not be considered a reasonable or beneficial use of water.
100.1. (a) For the purposes of this section, the following definitions apply:
(1) Agricultural land has the same meaning as defined in Section 3508 of Title 7 of the United States Code.
(2) Investment fund means a private equity fund, public equity fund, venture capital fund, hedge fund, fixed income fund, real estate fund, infrastructure fund, or similar pooled investment entity that is, or holds itself out as being, engaged primarily, or proposes to engage primarily, in the business of investing, reinvesting, owning, holding, or trading securities or other assets.
(b) It is hereby declared that the sale, transfer, or lease of an interest in any water right for profit, on or below agricultural lands within the state by an investment fund, shall not be considered a reasonable or beneficial use of water.
Following the expiration of the period of the long-term transfer, all rights shall automatically revert to the original holders of the right without any action by the board.