NC H1744

Adds "asset management plan" definition as the strategic and systematic management of local government infrastructure assets to minimize costs while maximizing efficiency and reliability.

Clarifies that repair or replacement of leaking waterlines receives priority for both water conservation/efficiency and contamination prevention purposes.

Establishes new priority criteria for water and wastewater infrastructure funding including regionalization planning, state water supply plan coordination, and water conservation measures exceeding minimum requirements.

Creates sliding scale priority system for projects exceeding the high-unit-cost threshold based on the amount by which costs exceed the threshold.

Requires funding agencies to give equal priority to projects demonstrating infeasibility of regionalization as those that include regionalization.

Effective July 1, 2010, applies to all loan and grant applications submitted on or after that date.