{"data":{"id":"us-nm/72-1-2.3","jurisdiction":"us-nm","citation":"72-1-2.3","heading":"Lower Pecos river basin below Sumner lake water bank; acequia and community ditch water banks; interstate stream commission.","body":"A. The interstate stream commission may recognize a water bank established by an irrigation district, a conservancy district, an artesian conservancy district, a community ditch, an acequia or a water users association in the lower Pecos river basin below Sumner lake for purposes of compliance with the Pecos River Compact [72-15-19 NMSA 1978].\nB. The interstate stream commission shall propose and recommend to the state engineer for adoption rules for recognition of a water bank that include:\n(1) criteria, terms and conditions for deposit of a water right in the bank;\n(2) terms and conditions for the accrual, pooling, exchange, assignment and conditions of the deposit of a water right;\n(3) procedures for recording and annual reporting of all transactions to the interstate stream commission and the state engineer; and\n(4) procedures for the water bank to temporarily transfer deposited water to new purposes and places of use and points of diversion without formal proceedings before the state engineer.\nC. A lower Pecos river basin below Sumner lake water bank may contract with a person to accrue, pool, exchange, assign or lease water rights to facilitate compliance with the Pecos River Compact. A transaction and transfer of water by a water bank in the Pecos river basin shall:\n(1) not impair other water rights;\n(2) not deplete water in the system above that level that would have occurred in the absence of the transaction;\n(3) comply with state law; and\n(4) be within the same stream system or underground water source.","path":["Chapter 72 - Water Law","ARTICLE 1 Water Rights in General"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18575/index.do","current_through":"2026-07-01","vintage":"","retrieved_at":"2026-09-03T15:02:20Z","sha256":"04289268ad7c215ab626142299fee3ffbbefa0f712f910969b152a903d5f70ef","source_id":"us-nm","stale":false,"prev":"us-nm/72-1-2.2","next":"us-nm/72-1-2.4"},"notice":"GroundRules: Original legal text. Not legal advice."}