(a) The board shall formulate a plan to control and mitigate subsidence in the district.
(b) The plan must:
(1) regulate groundwater withdrawals to maintain sufficient artesian pressure to control and mitigate subsidence; and
(2) specify in as much detail as practicable the acts, procedures, performance, and avoidance that are necessary to carry out the purpose of this chapter.

(c) When formulating the plan, the board shall compile and consider:
(1) a list of wells in the district subject to regulation under this chapter;
(2) a list of all available sources of water, other than groundwater, in the district;
(3) the purpose for which the water is used and for which it is proposed to be used;
(4) accurate estimates of:
(A) groundwater withdrawal from all wells or proposed wells in the district;
(B) the amount of groundwater that may be withdrawn from each area in the district without causing:
(i) long-term static water level decline; and
(ii) reduction of artesian pressure that will lead to subsidence in the district; and
(C) current and future water needs in the district;
(5) information relating to formulating a permit system; and
(6) other information necessary to manage groundwater in the district and to effectively and expeditiously carry out the purpose of this chapter.