NY S08473

Requires 50% of water quality restoration fund revenue be dedicated to individual septic system projects and 50% to wastewater treatment facility projects, after deducting administrative costs not to exceed 10%.

Establishes a phased transfer schedule from the existing drinking water protection tax (25% apportioned for sewer taxpayer protection) to the water quality restoration fund, beginning at 5% annually for years 1-4, increasing to 20% in year 5, 30% in year 6, 40% in year 7, 50% in year 8, 70% in years 9-10, and 50% in all subsequent years.

Restricts all revenue transferred from the drinking water protection tax to fund solely individual septic system projects.

Prohibits expenditures from the water quality restoration fund for any purpose other than those expressly permitted in the legislation.

Requires the Suffolk county executive to submit a report to the governor and legislature after January 1, 2030 recommending any modifications to revenue distribution between wastewater treatment and septic system projects.