NC S427

Establishes state policy to manage water resources efficiently and productively to support economic growth while preventing water from becoming a limiting factor in development.

Requires units of local government and large community water systems to prepare local water efficiency plans with specific per capita water use reduction targets: 100 gallons per person per day by 2016, 75 gallons by 2025, and 45 gallons by 2035.

Mandates that newly constructed multiunit residential, commercial, and retail buildings permitted after January 1, 2013, be constructed to enable individual unit water metering.

Requires the Building Code Council to adopt water efficiency standards equivalent to the International Green Construction Code by June 30, 2012, with mandatory implementation in the North Carolina Building Code effective January 1, 2013.

Allocates at least 20% of the Drinking Water Reserve Fund for loans and grants to help local governments meet water use reduction goals and directs the Department of Environment and Natural Resources to provide statewide technical assistance on water efficiency and conservation practices.