1. (a) In addition to any other charges authorized under this division, the Commission may impose a system development charge that shall be paid by an applicant for new service.

2. (b) The system development charge shall be paid as follows:

   1. (1) for residential properties:

      1. (i) 50% at the time the plumbing permit application is filed; and
      2. (ii) 50% within 12 months after the earlier of the date on which a plumbing permit application is filed or on transfer of title to the property; and
   2. (2) for other properties, 100% at the time the plumbing permit application is filed.

3. (c) When the applicant files the plumbing permit application, the applicant shall deposit with the Commission security:

   1. (1) in the form of an irrevocable letter of credit;
   2. (2) in the form of a financial guaranty bond; or
   3. (3) in a form the Commission establishes and approves under its regulations.

Added by Acts 2010, c. 37, § 3, eff. Oct. 1, 2010.