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State water official warns of $1.3 billion shortfall; DWR to present cost-share study in March
Summary
Department of Water Resources Director Reese Haas told LAWA members that a 14-year projection shows a roughly $1.3 billion gap between projected revenues and core Red River Valley water needs, and that the agency will recommend changes to the current cost-share policy when it presents draft studies in March.
Reese Haas, who delivered the Department of Water Resources update to LAWA, said state revenue tied to oil extraction taxes is shrinking and that the agency’s 14-year projection leaves “a $1,300,000,000 shortfall” against core Red River Valley water needs. He told the board that the resources trust fund—fed largely by oil extraction taxes, and affected by stripper-well exemptions—cannot sustain the current cost-share policy without changes.
Haas said DWR has contracted Deloitte to prepare two legislatively directed studies: a cost-share review and a governance-and-finance study of several regional water systems,…
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