(a) It is in the best interest of the people of the State of Arkansas to have a water policy that recognizes the vital importance of water to the prosperity and health of both people and their natural surroundings.

(b) Preserving water of a sufficient quality and quantity will allow Arkansas to be known both as a natural state and a land of opportunity where agriculture, industry, tourism, and recreation will remain strong for future generations.

(c) It is declared to be the policy of the State of Arkansas to encourage best management practices and reliable data to provide scientific methods for managing and conserving water for future use in recognition of the facts that:

(1) Arkansas has annual rainfall providing surplus surface water for the use of persons in this state, while continuing to provide water for wildlife habitat, recreation, industry, agriculture, and commerce;

(2) In many instances much of this surplus water is now underutilized;

(3) The groundwater supplies of the state are being used at a rate that will result in valuable water aquifers being destroyed, harming both the general public and the private property rights of those owning property in this state; and

(4) Surface water and ground water supplies must be managed together for maximum effect.

(d) It is declared to be the purpose of this subchapter to permit and regulate the construction of facilities to use surplus surface water in order to, without limitation:

(1) Protect critical groundwater supplies that are a significant source of the drinking water supply for thousands of people in Arkansas;

(2) Protect the rights of all persons equitably and reasonably interested in the use and disposition of water;

(3) Maintain healthy in-stream flows for all streams and rivers;

(4) Prevent harmful overflows and flooding; and

(5) Conserve the natural resources of the State of Arkansas.