Water rights often depend on maintaining historic use and so, understandably, folks with senior water rights are loath to do anything to put their establish historic use in jeopardy. This creates a big inefficiency in water transfers, since the risk of losing a water right has to be factored in to the price point.
The Brush News Tribune reports that Colorado State Rep. Greg Brophy (R-Wray) means to make water leases a bit easier while preserving expectations in a senior water right. Brophy will submit House Bill 1185 (pdf) to committee shortly.