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Starting in 2027, this bill requires public water systems and wastewater providers to demonstrate they are collecting a minimum level of local revenue — set by a state council based on local median income and number of connections — before receiving state money for water infrastructure. It also strengthens existing secondary water metering rules by requiring water suppliers that have older contracts not yet in compliance with metering and usage-based billing to update those contracts, clarifies that water-related compliance obligations follow a property when it is sold, and allows secondary water suppliers to register with county recorders to automatically receive notifications when properties in their service area change ownership. Local water utilities that fail to meet metering or conservation billing requirements by the 2030 deadline face escalating fines and loss of access to state funding.