NC S515

Extends the Utilities Commission's authority to suspend proposed water and sewer utility rate increases and Water and Sewer Investment Plan implementation to a maximum of 300 days during investigation.

Requires local government water and sewer service providers to hold a public hearing and determine that a sale to a private company is in the public interest before proceeding, considering factors including system physical condition, capital needs, purchaser qualifications, affordability impacts, and alternative options.

Mandates that proceeds from water or sewer system sales be used first for debt reduction and repayment of federal grant awards, with any remaining funds deposited in the local government's general fund.

Allows local government providers to charge customers outside their jurisdictional boundaries up to 25% more than inside customers without a public hearing, but requires a public hearing and explanation if rates exceed inside rates by more than 25%.

Establishes separate effective dates for each section, with provisions applying to rate schedules filed after enactment and system sales contracts executed after enactment.