Amended IN Assembly May 08, 2023 Amended IN Assembly March 23, 2023 CALIFORNIA LEGISLATURE 20232024 REGULAR SESSION Assembly Bill No. 1205Introduced by Assembly Member Bauer-Kahan(Coauthor: Assembly Member Friedman)February 16, 2023An act to add Section 100.1 to the Water Code, relating to water.LEGISLATIVE COUNSEL'S DIGESTAB 1205, as amended, Bauer-Kahan. 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 find and declare that speculation or profiteering by an investment fund in the sale, transfer, or lease of an interest in any surface water right or groundwater water right for profit, on or below previously put to beneficial use on agricultural lands within the state by an investment fund, shall not be considered a reasonable or beneficial use of water. is a waste or an unreasonable use of water.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. 10213 of the Public Resources 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.(3) Speculation means the sale, transfer, or lease of an interest in a water right by an investment fund to profit from an increase in the waters value in a subsequent transaction or without a plan to put the water to beneficial use.(b) It is hereby declared The Legislature hereby finds and declares that speculation or profiteering by an investment fund in the sale, transfer, or lease of an interest in any surface water right or groundwater water right for profit, on or below previously put to beneficial use on agricultural lands within the state by an investment fund, shall not be considered a reasonable or beneficial use of water. is a waste or an unreasonable use of water within the meaning of Section 2 of Article X of the California Constitution.
Amended IN Assembly May 08, 2023 Amended IN Assembly March 23, 2023 CALIFORNIA LEGISLATURE 20232024 REGULAR SESSION Assembly Bill No. 1205Introduced by Assembly Member Bauer-Kahan(Coauthor: Assembly Member Friedman)February 16, 2023An act to add Section 100.1 to the Water Code, relating to water.LEGISLATIVE COUNSEL'S DIGESTAB 1205, as amended, Bauer-Kahan. 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 find and declare that speculation or profiteering by an investment fund in the sale, transfer, or lease of an interest in any surface water right or groundwater water right for profit, on or below previously put to beneficial use on agricultural lands within the state by an investment fund, shall not be considered a reasonable or beneficial use of water. is a waste or an unreasonable use of water.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO
Amended IN Assembly May 08, 2023 Amended IN Assembly March 23, 2023
Amended IN Assembly May 08, 2023
Amended IN Assembly March 23, 2023
CALIFORNIA LEGISLATURE 20232024 REGULAR SESSION
Assembly Bill
No. 1205
Introduced by Assembly Member Bauer-Kahan(Coauthor: Assembly Member Friedman)February 16, 2023
Introduced by Assembly Member Bauer-Kahan(Coauthor: Assembly Member Friedman)
February 16, 2023
An act to 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 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 find and declare that speculation or profiteering by an investment fund in the sale, transfer, or lease of an interest in any surface water right or groundwater water right for profit, on or below previously put to beneficial use on agricultural lands within the state by an investment fund, shall not be considered a reasonable or beneficial use of water. is a waste or an unreasonable use of water.
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 find and declare that speculation or profiteering by an investment fund in the sale, transfer, or lease of an interest in any surface water right or groundwater water right for profit, on or below previously put to beneficial use on agricultural lands within the state by an investment fund, shall not be considered a reasonable or beneficial use of water. is a waste or an unreasonable use of water.
## 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. 10213 of the Public Resources 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.(3) Speculation means the sale, transfer, or lease of an interest in a water right by an investment fund to profit from an increase in the waters value in a subsequent transaction or without a plan to put the water to beneficial use.(b) It is hereby declared The Legislature hereby finds and declares that speculation or profiteering by an investment fund in the sale, transfer, or lease of an interest in any surface water right or groundwater water right for profit, on or below previously put to beneficial use on agricultural lands within the state by an investment fund, shall not be considered a reasonable or beneficial use of water. is a waste or an unreasonable use of water within the meaning of Section 2 of Article X of the California Constitution.
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. 10213 of the Public Resources 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.(3) Speculation means the sale, transfer, or lease of an interest in a water right by an investment fund to profit from an increase in the waters value in a subsequent transaction or without a plan to put the water to beneficial use.(b) It is hereby declared The Legislature hereby finds and declares that speculation or profiteering by an investment fund in the sale, transfer, or lease of an interest in any surface water right or groundwater water right for profit, on or below previously put to beneficial use on agricultural lands within the state by an investment fund, shall not be considered a reasonable or beneficial use of water. is a waste or an unreasonable use of water within the meaning of Section 2 of Article X of the California Constitution.
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. 10213 of the Public Resources 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.(3) Speculation means the sale, transfer, or lease of an interest in a water right by an investment fund to profit from an increase in the waters value in a subsequent transaction or without a plan to put the water to beneficial use.(b) It is hereby declared The Legislature hereby finds and declares that speculation or profiteering by an investment fund in the sale, transfer, or lease of an interest in any surface water right or groundwater water right for profit, on or below previously put to beneficial use on agricultural lands within the state by an investment fund, shall not be considered a reasonable or beneficial use of water. is a waste or an unreasonable use of water within the meaning of Section 2 of Article X of the California Constitution.
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. 10213 of the Public Resources 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.(3) Speculation means the sale, transfer, or lease of an interest in a water right by an investment fund to profit from an increase in the waters value in a subsequent transaction or without a plan to put the water to beneficial use.(b) It is hereby declared The Legislature hereby finds and declares that speculation or profiteering by an investment fund in the sale, transfer, or lease of an interest in any surface water right or groundwater water right for profit, on or below previously put to beneficial use on agricultural lands within the state by an investment fund, shall not be considered a reasonable or beneficial use of water. is a waste or an unreasonable use of water within the meaning of Section 2 of Article X of the California Constitution.
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. 10213 of the Public Resources 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.(3) Speculation means the sale, transfer, or lease of an interest in a water right by an investment fund to profit from an increase in the waters value in a subsequent transaction or without a plan to put the water to beneficial use.(b) It is hereby declared The Legislature hereby finds and declares that speculation or profiteering by an investment fund in the sale, transfer, or lease of an interest in any surface water right or groundwater water right for profit, on or below previously put to beneficial use on agricultural lands within the state by an investment fund, shall not be considered a reasonable or beneficial use of water. is a waste or an unreasonable use of water within the meaning of Section 2 of Article X of the California Constitution.
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. 10213 of the Public Resources 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.
(3) Speculation means the sale, transfer, or lease of an interest in a water right by an investment fund to profit from an increase in the waters value in a subsequent transaction or without a plan to put the water to beneficial use.
(b) It is hereby declared The Legislature hereby finds and declares that speculation or profiteering by an investment fund in the sale, transfer, or lease of an interest in any surface water right or groundwater water right for profit, on or below previously put to beneficial use on agricultural lands within the state by an investment fund, shall not be considered a reasonable or beneficial use of water. is a waste or an unreasonable use of water within the meaning of Section 2 of Article X of the California Constitution.