The proposed bill aims to establish a "low-income water residential affordability fund" within the state treasury to assist low-income residents with their water bills. The fund will be financed through contributions from various sources, and the state treasurer will manage its investments and disbursements. The bill outlines specific allocations for administrative costs, payments to the Department of Treasury, and funding for providers and program administrators to implement income-based bill discounts, arrearage payments, and water loss mitigation programs. Notably, payments made from the fund are exempt from legal processes aimed at collecting debts, ensuring that funds are used solely for their intended purposes.

Additionally, the bill introduces a funding factor, initially set at $1.25 per month per retail water meter, which will increase annually and be adjusted based on the Consumer Price Index. Providers are required to include this funding factor on all water bills and remit collected funds to the state treasury. The bill mandates annual reporting from providers regarding the funding factor's implementation and establishes a task force to oversee the program and report to the legislature. The Attorney General is granted enforcement authority to ensure compliance with the bill's provisions, and a mechanism for donations to the fund is also included, recognizing significant contributors as "water affordability champions."

Statutes affected:
Senate Introduced Bill: 400.1, 400.119