71st OREGON LEGISLATIVE ASSEMBLY--2001 Regular Session
 
NOTE:  Matter within  { +  braces and plus signs + } in an
amended section is new. Matter within  { -  braces and minus
signs - } is existing law to be omitted. New sections are within
 { +  braces and plus signs + } .
 
LC 998
 
                         House Bill 2184
 
Ordered printed by the Speaker pursuant to House Rule 12.00A (5).
  Presession filed (at the request of Governor John A. Kitzhaber,
  M.D., for Water Resources Department)
 
 
                             SUMMARY
 
The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure as
introduced.
 
  Creates Oregon Water Mitigation Bank Revolving Fund. Permits
Water Resources Department to use moneys in fund to protect water
rights from injury, protect streamflows, encourage acceptable
development of water resources and pursue similar objectives.
 
                        A BILL FOR AN ACT
Relating to water banking; and appropriating money.
Be It Enacted by the People of the State of Oregon:
  SECTION 1.  { + Sections 2 to 5 of this 2001 Act are added to
and made a part of ORS chapter 536. + }
  SECTION 2.  { + (1) The Oregon Water Mitigation Bank Revolving
Fund is established in the State Treasury, separate and distinct
from the General Fund. Except as otherwise provided by law, all
moneys received under this section and section 3 of this 2001 Act
shall be paid into the State Treasury and credited to the Oregon
Water Mitigation Bank Revolving Fund. All moneys in the fund are
appropriated continuously to the Water Resources Department to be
used by the department for the objectives set forth in section 4
of this 2001 Act.
  (2) The Oregon Water Mitigation Bank Revolving Fund shall
consist of moneys appropriated by the Legislative Assembly for
the purpose of water mitigation banking, payments made by public
or private sources to mitigate activities authorized or approved
by the Water Resources Department under ORS chapters 537 and 540
and moneys gifted, bequested, donated or granted from any public
or private source for the purpose of water mitigation banking.
Interest earned by the fund shall be credited to the fund. The
moneys in the fund may be invested and reinvested as provided in
ORS 293.701 to 293.790.
  (3) The department shall keep a record of all moneys deposited
in the Oregon Water Mitigation Bank Revolving Fund. The record
shall indicate by separate cumulative accounts the source of the
moneys and the individual activity or program against which each
withdrawal is charged. + }
  SECTION 3.  { + The Water Resources Department may enter into
contracts and agreements with, and receive funds from, any person
or entity in fulfillment of sections 2 to 5 of this 2001 Act. The
department may receive and make payment for services rendered in
 
performance of contracts and agreements authorized under this
section. + }
  SECTION 4.  { + (1) The Water Resources Department may use the
moneys in the Oregon Water Mitigation Bank Revolving Fund in
pursuit of the following objectives:
  (a) Protecting water rights from injury by future
appropriations of ground and surface water;
  (b) Protecting and maintaining streamflows that benefit fish
and wildlife habitat;
  (c) Maintaining the free-flowing character of the scenic
waterways in quantities necessary for recreation, fish and
wildlife in accordance with ORS 390.835;
  (d) Providing adequate water supplies to meet demands of future
economic and population growth while maintaining flows necessary
to satisfy in-stream needs;
  (e) Providing options for mitigation when required for an
activity authorized or approved by the department under ORS
chapters 537 and 540;
  (f) Improving cooperation among public and private entities for
the management of ground and surface water resources; and
  (g) Maintaining and encouraging a reliable and effective
regulatory framework for environmentally acceptable development
of water resources.
  (2) In accomplishing the objectives in subsection (1) of this
section, the Water Resources Department may:
  (a) Establish a water mitigation bank;
  (b) Acquire water or water rights suitable for use in a water
mitigation bank or action;
  (c) Pay costs incurred by the department for actions to protect
water rights from injury, mitigate impacts to fish and wildlife
habitat or maintain the free-flowing character of scenic
waterways in quantities necessary for recreation, fish and
wildlife; and
  (d) Pay the department's administrative, research or monitoring
expenses accrued in carrying out sections 2 to 5 of this 2001
Act. + }
  SECTION 5.  { + The Water Resources Director shall prepare an
annual report on the Oregon Water Mitigation Bank Revolving Fund
that shall include, but need not be limited to:
  (1) The fund's financial status;
  (2) Activities and credits sold, granted or otherwise disposed
of in the water mitigation bank established under section 4 of
this 2001 Act;
  (3) Activities and credits remaining in the water mitigation
bank established under section 4 of this 2001 Act;
  (4) Water and water rights acquired with moneys from the fund;
and
  (5) A summary of activities, including but not limited to:
  (a) The location, size, number of potential credits and credits
withdrawn for each action; and
  (b) The status of all water mitigation bank activities pending
or completed during the past year. + }
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