The bill establishes the "New Jersey Low Income Household Water Assistance Program," designed to provide financial assistance for water service and bill payments to eligible low-income households. An "eligible household" is defined as one that pays for its own water or sewer services and has a monthly income at or below 60 percent of the New Jersey State median income. The program will offer various forms of assistance, including direct financial aid, support for renters, crisis intervention, water efficiency measures, and debt relief for arrears. The Commissioner of Community Affairs, in consultation with the New Jersey Board of Public Utilities, is responsible for implementing the program and ensuring it aligns with existing assistance programs.

To fund the initiative, the bill appropriates $25 million from the General Fund to the Department of Community Affairs and creates the "New Jersey Low Income Household Water Assistance Program Fund," a non-lapsing fund dedicated to the program's purposes. Public utilities, local authorities, and municipal utilities are required to enter into vendor contracts with the department and provide necessary information. The commissioner must also submit an annual report to the Governor and the Legislature detailing the program's operations, including application statistics and funding expenditures. The bill emphasizes coordination with existing assistance programs, such as the Universal Service Fund and the Low Income Home Energy Assistance Program, to enhance water affordability for low-income households.