Authorizing and providing for the transfer of public drainage systems from drainage authorities to water management authorities after expiration of the drainage lien payment period, defining water management authority; specifying certain petition signature and content requirements and providing for filing; specifying certain transfer hearing requirements, providing for drainage system examination by a drainage authority or court appointed technical panel in cases of property owner objection, requiring technical assistance from the board of water and soil resources (BOWSR) and the commissioner of natural resources (DNR) under certain conditions; requiring costs relating to the transfer to be paid by the proposed transferee water management authority, requiring drainage system reimbursement to the water management authority for certain expenses in nontransfer cases; requiring an outlet guarantee and prohibiting the compromise of existing property rights; requiring water management authority compensation to owners of property assessed for benefits on transferred drainage systems for loss or impairment; providing for the effect of the transfer (mk)