NC S428

Defines "major transfer" as new interbasin water transfers exceeding 30,000,000 gallons per day or modifications increasing existing transfers by more than 30,000,000 gallons per day

Requires drinking water system petitioners seeking major transfer certificates to demonstrate a water loss ratio below 15% and maintain that ratio throughout the certificate term

Limits major transfer certificates to 20-year terms with no renewal or extension, and requires petitioners to reserve at least 10% of gross water and wastewater revenues for infrastructure improvements in the source basin to reduce total transfers below 15,000,000 gallons per day

Adds new approval criteria requiring applicants to demonstrate that denying the certificate would cause significant utility rate increases placing rates in the highest 25% statewide and create financial hardship

Authorizes the Commission to require funding for drought mitigation and resiliency infrastructure improvements in source basins as a condition of certificate approval when necessary to protect affected communities during low-flow conditions