PHOENIX — Governor Doug Ducey announced Friday he is creating the Arizona Water Authority.
The authority will be charged with identifying and developing new and innovative long term water sources.
It will also have the power to acquire, own and sell water on behalf of the state.
The Arizona Water Authority will be the policy arm of the governor's $1 billion budget investment to secure Arizona's water security. The state, like all of the U.S. Southwest in the midst of a over 20 year drought.
The 9-member board will administer two funds, a Water Supply Development Revolving Fund which will be used for providing loans and grants for water supply development. The second fund, the Long-term Water Augmentation Fund, will provide grants for innovation and conservation projects including purchasing water or water rights and acquisition or construction of water-related facilities or infrastructure in the state.
A new Joint Legislative Committee, which will include the President of the Senate and the Speaker of the House, will be created to oversee the authority.
Funding for the Arizona Water Authority will be included in the next fiscal year budget.