WATER RATE PROTECTION ACT

Creates the Water Rate Protection Act. Creates the Water Rate Protection Board to exercise specified powers and duties, including holding hearings and regulating water rates that a municipal water provider with a population over 500,000 may impose upon units of local government that purchase water from the municipal water provider for delivery to consumers. Contains provisions regarding: appointment of board members and election of board officers; employment of hearing examiners and staff by the board; mailings; prohibited acts; conflicts of interest; records; water rates and rate schedules; judicial review; costs; expenses; construction; liability; and other matters. Limits home rule powers.