The bill seeks to reform West Virginia's water infrastructure systems by amending various sections of the Code of West Virginia and introducing new provisions. It allows certain private utilities to access low-interest loans through the Water Development Authority, while prioritizing public utilities for loan issuance. Key changes include the introduction of an inflation-based rate adjustment for publicly owned water and sewer utilities, the renaming of the Distressed and Failing Utilities Improvement Act to the Distressed and Failing Water and Wastewater Utilities Improvement Act, and the establishment of a framework for Regional Cooperative Agreements among utilities. The bill also mandates reporting requirements for municipal governing bodies and county commissions, and it introduces definitions for "private utility" and "private water development project" to clarify eligibility for funding.

Additionally, the bill creates the "Public Utility Stability Act," which allows publicly owned utilities to implement annual rate increases based on the U.S. Department of Labor Statistics Water and Sewerage Maintenance Index without prior approval. It establishes an Early Intervention Pilot Program for struggling utilities, requiring individualized improvement plans and monitoring by the Public Service Commission (PSC). The PSC will also maintain a watch list of potentially unstable utilities, which will enter a mandatory improvement period. The bill emphasizes collaboration among utilities and regulatory bodies, aiming to enhance service delivery and ensure public health and safety. It also outlines the procedures for the Consolidation Committee to evaluate potential consolidations of utilities, prioritizing customer health and safety in funding decisions.

Statutes affected:
Introduced Version: 22-36-1, 22-36-3, 22-36-4, 22-36-5, 22C-1-3, 22C-1-4, 22C-1-5, 22C-1-6a, 22C-1-8, 22C-2-1, 22C-2-3, 22C-2-4, 22C-2-5, 24-2H-1, 24-2H-3, 24-2H-4, 24-2H-5, 24-2H-6, 24-2H-7, 24-2H-8, 31-15A-1, 31-15A-2, 31-15A-3, 31-15A-10, 31-15A-13, 31-15A-17, 22C-1-5a, 24-2H-3a, 24-2H-3b, 24-2H-3c, 24-2H-4a, 24-2H-7a, 31-15A-3a, 31-15A-9a
Committee Substitute: 22C-1-3, 22C-1-4, 24-2H-1, 24-2H-3, 24-2H-4, 24-2H-5, 24-2H-6, 24-2H-7, 24-2H-8, 31-15A-1, 31-15A-2, 31-15A-10, 22C-1-5a, 24-2-4i, 24-2H-3a, 24-2H-3b, 24-2H-3c, 24-2H-4a, 24-2H-7a, 24-2J-1, 24-2J-2, 24-2J-3, 24-2J-4, 24-2J-5, 24-2J-6, 24-2J-7, 24-2J-8, 24-2J-9, 24-2J-10, 24-2J-11, 24-2J-12, 24-2J-13, 31-15A-3a, 31-15A-9a