Looks like a plain old brass valve with copper sweated into it. I would disconnect the pipe at the outlet side of the meter, let the water drain from the house pipe, unsweat the old valve and sweat a new one in. Good luck
You can probably get a drain clamp at Home Depot or Lowes, that will allow you to connect a 3/8" drainline to it. I used to use these for the drain for reverse osmosis systems.