Texas Water Code
§ 49.509 — DUTY OF RIO GRANDE REGIONAL WATER AUTHORITY TO CALCULATE CURRENT MARKET VALUE
WA § 49.509Title 4. GENERAL LAW DISTRICTS · Ch. 49. PROVISIONS APPLICABLE TO ALL DISTRICTS · Art. O. EFFECT OF SUBDIVISION OF NONAGRICULTURAL LAND ON WATER RIGHTS
Statute text
View on source(a)Subject to Subsection (d), the Rio Grande Regional Water Authority annually at its January meeting shall calculate the current market value by using the average price per acre-foot of municipal use water after conversion from irrigation use water to municipal use water with a municipal priority of allocation under commission rules of the last three purchases involving:
(1)a municipal water supplier;
(2)a party other than a municipal water supplier; and
(3)at least 100 acre-feet of municipal use water, with municipal priority of allocation.
(b)The Rio Grande Regional Water Authority shall use information from the water rights sales contracts reported to the Rio Grande Watermaster's Office to calculate the current market value.
(c)The Rio Grande Regional Water Authority shall make the calculation:
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Legislative history
Acts 2009, 81st Leg., R.S., Ch. 438 (H.B. 2208), Sec. 1, eff. September 1, 2009.