The KS AG has a point; if it's expected to cost $47B, but the actual funding amount is $15B (...which is the fault of Republicans), then the plan may not have a significant effect for the families that are most at-risk, e.g., poor families in old, poorly maintained homes. The obvious solution is to increase the appropriation.
As a water professional working for a utility, it will cost way more than that.
As a regulator for water resources I know industries will spend hundreds of thousands of dollars flying attorneys across the country to debate the validity of a $1000 field penalty for an illicit direct discharge to waters of the state and US.
It is often safe to say if the industry's argument is talking cost and funding alone, then they have no legitimate or technical justification to oppose. Their cash reserves are at stake either way.
Water utilities are generally not wealthy corporations and will not be doing this. Many are municipally owned. However, having a mandate that will massively strain contractor resources and the supply chain to get replacement materials will massively raise the cost.
Not to mention, most utilities do not know where the lead connections are. A lot more will have to be dug up and checked to verify the material. That has its own expense.
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