Small private water companies would undergo audits every few years

The Public Service Commission would conduct full audits and set the audit cycle. Audits would examine company finances and management, investment in the system, and safe, reliable, and affordable water service. The state environmental agency would help with audits and provide information it holds for that purpose. The audit requirement would take effect immediately if the bill becomes law, with audits recurring every three to five years.

Companies would file regular public updates about compliance with the relevant order. Covered investigations would begin by commission motion under section 89-i or an order to show cause, which requires an explanation. The commission would set how often and how companies provide updates. It could impose fines, with higher fines for repeated reporting violations. These requirements would take effect immediately if the bill becomes law.