water exchanges; technical correction

SB 1519 is a technical correction to Arizona law that clarifies water exchanges completed before September 30, 1992, remain valid even if they were not enrolled under the water exchange contract system. The amendment to Section 45-1022 of the Arizona Revised Statutes explicitly states that enrollment requirements for future contracts do not invalidate prior transactions. This directly affects water rights holders who conducted exchanges before the effective date, ensuring legal certainty for existing agreements. The bill does not change current or future water exchange procedures, only resolving potential retroactive invalidation concerns.