(a) The state engineer and the Wyoming water development office are hereby authorized to pursue the ability to store water conserved under the program in Fontenelle Reservoir. The state engineer and Wyoming water development office are further authorized, in a manner consistent with contracts entered into with the United States Bureau of Reclamation, to store or facilitate the storage of conserved water in Fontenelle Reservoir. (b) Conserved water stored in any reservoir under this section shall only be released for one (1) or more of the following purposes: (i) Beneficial consumptive use within the state of Wyoming through direct delivery or exchange; (ii) Mitigating the impacts of curtailment or involuntary water use regulation on Wyoming water right holders; (iii) Helping to satisfy any portion of Wyoming's interstate compact obligations through interstate agreements or otherwise, including participating in an Upper Colorado River basin program. (c) The state engineer is hereby authorized to investigate other reservoirs located within Wyoming's portion of the Colorado River basin and assess their suitability for the storage of water conserved under the program. For any reservoir found to be suitable for the storage of water conserved under the program the state engineer is further authorized, in a manner consistent with contracts entered into with the reservoir owner, to store or facilitate the storage of conserved water in such reservoir.
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