Tex. Water Code § 11.0275

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
Section 11.0275 - Fair Market Value

Whenever the law requires the payment of fair market value for a water right, fair market value shall be determined by the amount of money that a willing buyer would pay a willing seller, neither of which is under any compulsion to buy or sell, for the water in an arms-length transaction and shall not be limited to the amount of money that the owner of the water right has paid or is paying for the water.

Tex. Water Code § 11.0275

Added by Acts 1997, 75th Leg., ch. 1010, Sec. 2.04, eff. 9/1/1997.