(a) In exercising the powers granted to it by § 13-3-402, the regional planning commission shall adopt regulations governing the subdivision of land within its jurisdiction. Such regulations may provide for the harmonious development of the region and its environs; for the coordination of roads within the subdivided land with other existing or planned roads or with the state or regional plan or with the plans of municipalities in or near the region; for adequate open spaces for traffic, light, air and recreation; for the conservation of or production of adequate transportation, water, drainage and sanitary facilities; for the avoidance of population congestion; and for the avoidance of such scattered or premature subdivision of land as would involve danger or injury to health, safety or prosperity by reason of the lack of water supply, drainage, transportation or other public services or would necessitate an excessive expenditure of public funds for the supply of such services or would be located in areas where there are inadequate or nonexistent publicly or privately owned and maintained services and facilities when the planning commission has determined the services are necessary in order for development to occur.

(b)

(1) As a condition precedent to the final approval of the plat, the regulations may include infrastructure improvement requirements as to the extent to which and the manner in which:

(A) Roads are constructed and improved;

(B) Water, sewer, and other utility mains, piping, and connections are constructed or installed; or

(C) Other infrastructure and facilities are constructed or installed.

(2) The regulations of the regional planning commission may provide for the preliminary approval of the plat before the infrastructure improvements, but any preliminary approval shall not be entered on the plat.

(3) In lieu of the completion of the infrastructure improvements before the final approval of a subdivision plat, the regional planning commission may grant final plat approval subject to the submittal and acceptance of a bond, letter of credit, or other method of assurance, in form, in amount, and with conditions and surety satisfactory to the regional planning commission. The bond, letter of credit, or other method of assurance shall provide for and secure to the public and the local government the actual construction and installation of the infrastructure improvements within a period specified by the regional planning commission and expressed in the bond, letter of credit, or other method of assurance.

(4) The attorney for the county shall enforce any bond, letter of credit, or other method of assurance by all appropriate legal and equitable remedies, and moneys collected on the bond, letter of credit, or other method of assurance shall be paid into the county's treasury. Upon the order of the regional planning commission, the moneys shall be applied to the construction and installation of the infrastructure improvements.

(c)

(1) Before adoption of its subdivision regulations or any amendment thereof, a public hearing thereon shall be held by the regional planning commission, thirty (30) days' notice of the time and place of which shall be given by one (1) publication in a newspaper of general circulation in each county lying wholly or partly in the region.

(2)

(A) The adoption of subdivision regulations or an amendment to existing subdivision regulations proposed by a regional planning commission shall not be given effect unless approved:

(i) By the county legislative body of each county lying wholly or partly within the region and by the governing body of each municipality lying wholly or partly within the region;

(ii) By only the legislative body of the county that is regulated by those subdivision regulations, if the subdivision regulations apply only to land outside of any municipality within the region; or

(iii) By only the governing body of the municipality that is regulated by those subdivision regulations, if the subdivision regulations apply only to land within municipal boundaries.

(B) This subdivision (c)(2) applies to a regional planning commission if the legislative body of each county and municipality lying wholly or partly within the region adopts a resolution or ordinance requiring approval of the regional planning commission's subdivision regulations or amendments to existing subdivision regulations.