This bill mandates that financial institutions, upon foreclosing on a property, must remove any lead water service lines present on that property, unless those lines are owned and maintained by the appropriate utility service. The legislation aims to address the public health risks associated with lead exposure, particularly in young children, who are especially vulnerable to the harmful effects of lead in drinking water.

The bill is set to take effect immediately upon enactment and will apply to all properties foreclosed by financial institutions after that date. By ensuring the removal of lead water service lines, the bill seeks to mitigate the risks of lead contamination and promote safer drinking water for future occupants of the properties.