Modifies current law regarding water rights by abolishing the concept of relinquishment in state law and relying on principles of abandonment. Relinquishment is a statutory provision to terminate water rights if they are not used continuously within a certain period of time. This concept does not account for those who wish to conserve water for a future use by forcing water rights’ holders to use water they may otherwise choose to conserve. Alternatively, abandonment occurs with discontinued use or waiver of the water right.   Official Text and Analysis.