Modifies provisions relating to the purchase of small water utilities by large water public utilities

SB 367 modifies rules governing when large public water utilities can purchase smaller water systems. It directly affects small water utilities considering sale and large utilities seeking to expand their service areas. The bill's specific changes to approval processes, financial terms, or regulatory requirements are not detailed in the available abstract or summary. As the bill is currently prefiled (2024-12-01) and has only undergone initial readings, no concrete provisions or mechanisms have been specified in the provided context. Therefore, a substantive summary of its policy changes cannot be generated at this stage.