(a) What this part does. This part establishes a procedural framework for the Secretary of the Interior (Secretary) to follow in considering, participating in, and administering Storage and Interstate Release Agreements in the Lower Division States (Arizona, California, and Nevada) that would:

1. (1) Permit State-authorized entities to store Colorado River water offstream;
2. (2) Permit State-authorized entities to develop intentionally created unused apportionment (ICUA);
3. (3) Permit State-authorized entities to make ICUA available to the Secretary for release for use in another Lower Division State. This release may only take place in accordance with the Secretary's obligations under Federal law and may occur in either the year of storage or in years subsequent to storage; and
4. (4) Allow only voluntary interstate water transactions. These water transactions can help to satisfy regional water demands by increasing the efficiency, flexibility, and certainty in Colorado River management in accordance with the Secretary's authority under Article II (B) (6) of the Decree entered March 9, 1964 (376 U.S. 340) in the case of Arizona v. California, (373 U.S. 546) (1963), as supplemented and amended.

(b) What this part does not do. This part does not:

1. (1) Affect any Colorado River water entitlement holder's right to use its full water entitlement;
2. (2) Address or preclude independent actions by the Secretary regarding Tribal storage and water transfer activities;
3. (3) Change or expand existing authorities under the body of law known as the “Law of the River”;
4. (4) Change the apportionments made for use within individual States;
5. (5) Address intrastate storage or intrastate distribution of water;
6. (6) Preclude a Storing State from storing some of its unused apportionment in another Lower Division State if consistent with applicable State law; or
7. (7) Authorize any specific activities; the rule provides a framework only.