Amends GS 62-111 (pertaining to transfers of franchises and mergers, consolidations, and combinations of public utilities) by enacting GS 62-111(f), which provides as follows. Sets forth procedures applicable only to applications for the grant or transfer of a certificate of public convenience and necessity for a water or wastewater system (“applications”). Sets 300-day deadline for the Utilities Commission to rule on an application related only to grants or transfers sought as a result of a proposed sale of a privately owned water or wastewater system to a public or private entity and those that are not water or wastewater systems with an unresolved notice of violation issued by the Department of Environmental Quality (DEQ) within the 24-month period immediately preceding the date of application. For those entities with DEQ citations, sets 210-day deadline for Commission to rule. Requires the Commission to find that the proposed grant or transfer, including adoption of existing or proposed rates for the transferring utility, is in the public interest, will not adversely affect service to the public under any existing franchise, and the person acquiring said franchise or certificate of public convenience and necessity has the technical, managerial, and financial capabilities necessary to provide public utility service to the public in order to favorably rule on any application, regardless of the timeframe it has to rule. Requires the Commission to give notice to all applicants within 30 days of receiving a filing as to whether or not their application is complete. Deems applications complete if the Commission fails to give notice. Applies to applications for grant or transfer of certificates of public convenience and necessity filed on or after the date that the act becomes law.

For applications before the Commission that are pending on the date the act becomes law, requires the Commission to issue a notice within 30 days of that date notifying the applicants of any deficiencies in their application. If the Commission fails to give notice, the application is deemed complete. Requires the Commission to issue an order, under standards identical to those set forth in proposed additions to GS-111(f), within 180 days after the bill becomes law or a completed application was filed, whichever is later. Permits applicants to waive any deadline. Applicable only to grants or transfers sought as a result of a proposed sale of a privately owned water or wastewater system to a public or private entity.