123STA T . 13 7 1 PUBLIC LA W 111 – 11 —M A R .3 0, 200 9anycost so f t heN a v a j o I n di anI r ri g ation P roject or Navajo -G a l l upW ater S upply Project .SEC.103 0 5 . INT E R EST R A TE. Not w ithstanding any other provision of law , the interest rate applica b le to any repay m ent contract entered into under section 106 0 4 shall be e q ual to the discount rate for F ederal water resources planning, as determined by the Secretary. PARTI— A MEND MENT S T O T H E C O L ORADO RI V ER STORA G E PRO J ECT ACT AND P UB LIC LA W87–4 8 3 SEC. 10 4 01. A M EN D MENTS T O T H ECO L ORADO RI V ER STORA G E P RO J ECT ACT. ( a ) P ARTIC I P ATI NG PR OJE CT S . — Paragraph ( 2 ) of the first section of the A ct of April 11, 1 95 6 (commonly k nown as the ‘ ‘ C olorado R iver Storage Project Act ’ ’) (4 3U .S.C. 620(2)) is amended by inserting ‘‘the Navajo-Gallup Water Supply Project,’’ after ‘‘Fruit- land M esa,’’. (b) NA V AJO RESERVOIR WATER B AN K .— T he Act of April 11, 1956 (commonly known as the ‘‘Colorado River Storage Project Act’’) is amended— (1) by redesignating section 16 (43 U.S.C. 620o) as section 1 7; and (2) by inserting after section 15 (43 U.S.C. 620n) the fol- lowing
‘‘SEC. 16. (a) The Secretary of the Interior may create and operate within the available capacity of Navajo Reservoir a top water bank. ‘‘(b) Water made available for the top water bank in accordance with subsections (c) and (d) shall not be subject to section 11 of Public L aw 8 7 – 483 (76 Stat. 99). ‘‘(c) The top water bank authori z ed under subsection (a) shall be operated in a manner that— ‘‘(1) is consistent with applicable law, e x cept that, notwith- standing any other provision of law, water for purposes other than irrigation may be stored in the Navajo Reservoir pursuant to the rules governing the top water bank established under this section; and ‘‘(2) does not impair the ability of the Secretary of the Interior to deliver water under contracts entered into under— ‘‘(A) Public Law 87–483 (76 Stat. 96); and ‘‘(B) New Mexico State E ngineer File Nos. 2847, 2848, 2849, and 2917. ‘‘(d)(1) The Secretary of the Interior, in cooperation with the State of New Mexico (acting through the Interstate Stream Commis- sion), shall develop any terms and procedures for the storage, accounting, and release of water in the top water bank that are necessary to comply with subsection (c). ‘‘(2) The terms and procedures developed under paragraph (1) shall include provisions requiring that— ‘‘(A) the storage of banked water shall be subject to approval under State law by the New Mexico State Engineer to ensure that impairment of any existing water right does Procedu re s.43USC620n–1 .
