A. The joint legislative water committee is established consisting of the following members:

1. The president of the senate or the president’s designee.

2. The speaker of the house of representatives or the speaker’s designee.

3. The minority leader of the senate or the minority leader’s designee.

4. The minority leader of the house of representatives or the minority leader’s designee.

5. The chairperson of the senate committee with jurisdiction over water issues.

6. The chairperson of the house of representatives committee with jurisdiction over water issues.

7. The ranking minority party member of the senate committee with jurisdiction over water issues.

8. The ranking minority party member of the house of representatives committee with jurisdiction over water issues.

9. The chairperson of the joint legislative budget committee.

B. The joint legislative water committee shall review awards of $50,000,000 or more from the long-term water augmentation fund established by section 49-1302 and the board shall provide the joint legislative water committee with the relevant information.