(1) The state engineer shall submit a report to the general assembly and the governor on or before November 1, 2005, regarding:
(a) The effectiveness of the program;
(b) Existing statutory, regulatory, or contractual constraints on the successful use of water banking within Colorado;
(c) Institutional constraints upon the successful use of water banking within Colorado;
(d) Interstate compact constraints upon the successful use of water banking within Colorado;
(e) Social or economic constraints upon the successful use of water banking within Colorado; and
(f) Any recommended limitations upon the use of water banks within Colorado, with specific reference to the time, place, or type of use of waters made available under such recommended limitations and the length of agreements implementing the same.
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