Establishes the Water Affordability and System Stabilization Trust to fund water system costs and low-income rate assistance.

The Water Affordability and System Stabilization Trust is created to provide a perpetual source of funding to assist with water system costs and provide low-income Californian households with direct assistance with their water bills. The trust is funded by transfers from the General Fund and donations. The trust's income is distributed to the Water Rate Assistance Fund and the Community Water Affordability Assistance Fund. The Community Water Affordability Program provides grants to community water systems for local water infrastructure projects. The bill does not impose any new taxes or fees.

Establishes the Water Affordability and System Stabilization Trust to fund water system costs and low-income rate assistance.

The Water Affordability and System Stabilization Trust is created to provide a perpetual source of funding to assist with water system costs and provide low-income Californian households with direct assistance with their water bills. The trust is funded by transfers from the General Fund and donations. The trust's income is distributed to the Water Rate Assistance Fund and the Community Water Affordability Assistance Fund. The Community Water Affordability Program provides grants to community water systems for local water infrastructure projects. The bill does not impose any new taxes or fees.