For a quick overview of what California’s new water bill package means, I can do no better than point you to the blog post by Steve Doyle of Brookfield Homes.
There’s lots more devilishly intricate parts of this legislation, of course, but this overview lets you grok the purpose of each of the five bills.
Doyle helpfully included links to each bill, so you can read the full text. Would that I had found this post sooner! I just spent much of the morning tracking this down.