HB1515 Summary

• Establishes staggered rate study schedules for water providers based on customer size: providers with 500 or fewer customers by July 1, 2024; 501-1,000 customers by July 1, 2025; and over 1,000 customers by July 1, 2026, with studies required every five years thereafter.

• Allows water providers to phase in rate increases over a two-year period if recommended rates increase by 50% or more, or implement series of rate increases as recommended in the rate study without time limitations.

• Modifies the refurbishment and replacement account requirement to remove the twelve-month timeline constraint and allow rate studies to determine different deposit amounts.

• Repeals the requirement for providers to obtain or amend a rate study before beginning major development projects (projects exceeding 20% of gross revenues).

• Extends the deadline for water provider board members to complete required training from December 31, 2022 to December 31, 2023, and adds an exemption for providers subject to federal court decrees for remediation efforts.