CA SB634

Repeals the Castaic Lake Water Agency Law and reorganizes the Castaic Lake Water Agency and Newhall County Water District into a new Santa Clarita Valley Water Agency, prohibiting the predecessor entities from operating as separate entities.

Establishes the agency's purpose as providing surface water, groundwater, and recycled water service at retail and wholesale within the Santa Clarita Valley region serving over 270,000 residents.

Creates a 15-member board of directors initially composed of 5 members from Newhall County Water District, 9 elected members from Castaic Lake Water Agency, and 1 appointed member representing Los Angeles County Waterworks District No. 36, Val Verde.

Increases contract bidding thresholds from $5,000 to $30,000 for the agency's construction and procurement activities.

Requires the agency to submit an application for conditions to the Local Agency Formation Commission for Los Angeles County by January 31, 2018, and directs integration of Valencia Water Company into the agency by May 1, 2018.