AB 428: Joint powers agreements: water corporations.

This bill allows water corporations and mutual water companies to enter into joint powers agreements with public agencies to provide insurance and risk pool losses. The agreements would be reinsured with no joint and several liability, no assessments, and no financial liability to participating members. The Public Utilities Commission would not allow a water corporation to join a joint powers agency for insurance coverage unless there are greater benefits to the customers. Water corporations that enter into risk pooling agreements would be required to submit annual information filings to the Public Utilities Commission and the joint powers agency.