SB330 Summary

• Converts certain municipal water works boards serving customers in four or more counties into "regional boards" subject to new governance and operational requirements effective immediately upon enactment.

• Restructures board composition from municipality-appointed directors to a seven-member board appointed by the sponsoring mayor, Lieutenant Governor, Governor, county officials, and the authorizing municipality, with staggered initial terms of one to five years and subsequent five-year terms limited to two full terms per director.

• Directors must have specified backgrounds (financial, engineering, or general business), reside in counties served by the board, receive $2,000 monthly compensation adjusted annually for inflation, and complete 10 hours of annual training on board duties, ethics laws, and reporting requirements.

• Requires regional boards to retain a nationally-recognized consulting engineer selected through competitive bidding to assess compliance with financial reporting standards, review major capital projects, and analyze rate reasonableness.

• Mandates comprehensive financial and operational reporting including monthly budgets, audited annual statements, five-year operating plans, 10-year capital plans, and statistical reports; prohibits payments to municipalities except for reasonable consideration for goods or services.