The Smart Planning Wireless and Water Public Utility Facilities Act aims to facilitate the installation of wireless communications equipment on water towers owned by water public utilities in New Jersey. The bill mandates that these utilities provide non-discriminatory access to wireless communications service providers for the installation of such equipment, while also allowing the utilities to deny access based on safety, structural integrity, or insufficient space, in accordance with federal law. The legislation emphasizes the importance of enabling advanced wireless technologies for the benefit of New Jersey residents.

Additionally, the bill amends existing law regarding the approval of tariffs for water companies. It stipulates that when the Board of Public Utilities (BPU) evaluates a water public utility's tariff, it must consider 50 percent of any rental income from leasing space on water towers to wireless communications service providers as above-the-line income, while the remaining portion will be classified as below-the-line income. This provision is intended to incentivize water utilities to collaborate with wireless service providers, ultimately benefiting both ratepayers and investors.