Bill > S08534

This bill, known as the "Small Water Utility Transparency Act," establishes several provisions to increase oversight and transparency of private water companies in New York. The key provisions include: 1) Requiring the Public Service Commission (PSC), in coordination with the Comptroller, to conduct full audits of regulated private water companies with gross annual revenues below $250,000 on a 3-5 year cycle, focusing on capital investment, compliance with regulations, financial capacity, management, water adequacy, and affordability. 2) Requiring these private water companies under investigation by the PSC to file regular public updates on their compliance status. 3) Mandating the PSC to cooperate with the Department of Environmental Conservation (DEC) and provide information to aid the DEC in conducting its own audits of these private water companies. The DEC is also required to conduct its own audits and coordinate with the PSC to issue joint audit reports.