Yet the NSW Premier has said State MPs should be trusted to "proactively" disclose their entitlements, despite it being mandatory to disclose property, income, jobs and share holdings.

Mrs Dalton questioned what the government is "hiding" to have not made the disclosures mandatory in their past nine years in power.

She has voluntarily declared close to $17 million in water ownership on her pecuniary interest register.

Her ownership includes 1383 megalitres of high security water and 3324 megalitres of general security water in the Murrumbidgee Valley, which is trading at $8000 and $2000 a megalitre respectively.

She also owns smaller amounts in the Murray Valley.

In question time last week, Ms Berejiklian responded to Mrs Dalton's question saying if anyone "is concerned about what they own in relation to water assets they should disclose them proactively and put them on their registers".

Mrs Dalton said the Premier's answer was "ridiculous".

"Let's just trust politicians to own up, is what she effectively said.

"The water market at the moment is an unregulated disgrace. We know there are people who have an interest in keeping water scarce and prices high.

"They are making millions off the misery of drought-stricken farmers.

"State MPs are making key decisions that impact on the supply and price of water. If they own water themselves, the public have the right to know about it."

Mrs Dalton said a simple legal change would fix the issue.

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"The Constitution (Disclosures by Members) Regulation 1983 just needs a simple amendment so that water entitlements are included among the pecuniary interests that must be disclosed by state MPs," she explained.

Her drafted bill will also provide for a proper online water register, allowing the public to look up the water entitlements of all individuals, investors, foreign companies, government departments, and anyone owning water.

Mrs Dalton said she gave a notice of motion to introduce her bill in Parliament in October, and she hopes is will be debated and voted on early in the new year.

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