The purpose of this bill is to enable applicants for a certificate of convenience and necessity for a water, sewer, and/or storm water project to file complete applications without incurring the expense of an engineer’s preparation of final engineering design materials or obtaining interests in real property related to the project, and to direct an entity that has received a certificate of convenience and necessity to pursue a rate change through the appropriate process when post-project rates have increased above the rate previously approved by the Public Service Commission by fifteen percent or less, without being at risk that in such proceeding the Public Service Commission will rescind or modify the scope of the previously granted certificate of convenience and necessity.