[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4902 Introduced in House (IH)]
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115th CONGRESS
2d Session
H. R. 4902
To amend the Water Infrastructure Finance and Innovation Act of 2014 to
provide to State infrastructure financing authorities additional
opportunities to receive loans under that Act to support drinking water
and clean water State revolving funds to deliver water infrastructure
to communities across the United States, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
January 30, 2018
Mr. Katko (for himself and Mr. Blumenauer) introduced the following
bill; which was referred to the Committee on Transportation and
Infrastructure, and in addition to the Committee on Energy and
Commerce, for a period to be subsequently determined by the Speaker, in
each case for consideration of such provisions as fall within the
jurisdiction of the committee concerned
_______________________________________________________________________
A BILL
To amend the Water Infrastructure Finance and Innovation Act of 2014 to
provide to State infrastructure financing authorities additional
opportunities to receive loans under that Act to support drinking water
and clean water State revolving funds to deliver water infrastructure
to communities across the United States, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Securing Required Funding for Water
Infrastructure Now Act'' or the ``SRF WIN Act''.
SEC. 2. INNOVATIVE FINANCING FOR STATE LOAN FUNDS.
(a) In General.--The Water Infrastructure Finance and Innovation
Act of 2014 (33 U.S.C. 3901 et seq.) is amended by adding at the end
the following:
``SEC. 5036. INNOVATIVE FINANCING FOR STATE LOAN FUNDS.
``(a) Definition of State Loan Funds.--In this section, the term
`State loan funds' means--
``(1) State drinking water treatment revolving loan funds
established under section 1452 of the Safe Drinking Water Act
(42 U.S.C. 300j-12); and
``(2) State water pollution control revolving funds
established under title VI of the Federal Water Pollution
Control Act (33 U.S.C. 1381 et seq.).
``(b) Financial Assistance to State Loan Funds.--The Administrator
may provide financial assistance under this section to State
infrastructure financing authorities for State loan funds to carry out
water and wastewater infrastructure projects in accordance with this
section.
``(c) Eligible Activities.--
``(1) In general.--The following activities may be carried
out by a State infrastructure financing authority with
financial assistance made available under this section:
``(A) One or more activities that are included in
the intended use plan under section 606(c) of the
Federal Water Pollution Control Act (33 U.S.C.
1386(c)).
``(B) One or more activities that are included in
the project priority list of the intended use plan
under section 1452(b) of the Safe Drinking Water Act
(42 U.S.C. 300j-12(b)).
``(2) Administrative costs.--Financial assistance provided
under this section may be used to pay the reasonable costs of
administration related to that financial assistance.
``(3) Application fees.--Section 5029(b)(7) shall not apply
to financial assistance made available under this section.
``(4) Treatment of projects.--In determining whether to
provide financial assistance under this section, the
Administrator shall consider a project to be all of the
activities included in an intended use plan described in
subparagraph (A) or (B) of paragraph (1).
``(5) State and local decisionmaking.--A State
infrastructure financing authority that receives financial
assistance under this section may use the assistance for any
activity included in an intended use plan described in
subparagraph (A) or (B) of paragraph (1).
``(d) Requirements.--
``(1) In general.--Except as otherwise provided in this
section, the requirements and procedures under this subtitle
shall apply to a project under this section.
``(2) Interest rate.--
``(A) In general.--Except as provided in
subparagraph (B), the interest rate on a secured loan
provided under this section shall be equal to the yield
on United States Treasury securities of a similar
maturity to the maturity of the secured loan on the
date of execution of the loan agreement.
``(B) Certain states.--
``(i) In general.--In the case of a State
described in clause (ii)--
``(I) the interest rate on a
secured loan provided under this
section shall be 80 percent of the
interest rate under subparagraph (A);
but
``(II) if there is not sufficient
demand for loans under this
subparagraph (as determined by the
Administrator), the Administrator may
provide a secured loan at an interest
rate that is not less than 50 percent
and not more than 80 percent of the
interest rate under subparagraph (A),
as determined by the Administrator with
respect to each loan.
``(ii) States described.--A State referred
to in clause (i) is a State--
``(I) that received less than 2
percent of the total amount of funds
made available to States for the State
loan funds for the most recent fiscal
year for which data is available; or
``(II) for which the President has
declared a major disaster in accordance
with section 401 of the Robert T.
Stafford Disaster Relief and Emergency
Assistance Act (42 U.S.C. 5170) during
the period beginning on January 1,
2017, and ending on the date of
enactment of this section, if the
secured loan is for a project related
to wastewater or drinking water
infrastructure damaged by the major
disaster.
``(C) Distribution of loans.--
``(i) In general.--Except as provided in
clause (ii), of the total amount of funds made
available to provide secured loans under this
section--
``(I) 50 percent shall be provided
for secured loans at the interest rate
described in subparagraph (A); and
``(II) 50 percent shall be provided
for secured loans at the interest rate
described in subparagraph (B)(i) to
States described in subparagraph
(B)(ii).
``(ii) Reallocation.--For any fiscal year,
if amounts for loans described in clause
(i)(II) remain available, the Administrator may
reallocate the amounts to be used for loans
described in clause (i)(I) to meet applicant
demand.
``(3) Certain state reviews.--
``(A) In general.--A project under this section
shall comply with any applicable State environmental or
engineering review requirements pursuant to, as
applicable--
``(i) title VI of the Federal Water
Pollution Control Act (33 U.S.C. 1381 et seq.);
``(ii) section 1452 of the Safe Drinking
Water Act (42 U.S.C. 300j-12);
``(iii) section 35.3140 of title 40, Code
of Federal Regulations (or successor
regulations); and
``(iv) section 35.3580 of title 40, Code of
Federal Regulations (or successor regulations).
``(B) No new reviews required.--Nothing in this
section requires any additional or new environmental or
engineering review for a project under this section
other than any requirement otherwise applicable to the
project.
``(4) Federal share.--Notwithstanding section 5029(b)(9),
financial assistance for a project under this section may be
used to pay up to 100 percent of the costs of the project.
``(5) Total amount per state.--Financial assistance under
this section shall be used to support loans in an amount not to
exceed $7,000,000,000 per State for the period of fiscal years
2019 through 2023.
``(e) Expedited Review of Applications.--Not later than 180 days
after the date on which the Administrator receives a complete
application for a project under this section, the Administrator shall,
through a written notice to the State infrastructure financing
authority--
``(1) approve the application; or
``(2) deny the application and provide an explanation as to
why the application was denied.
``(f) Funding.--
``(1) Authorization of appropriations.--
``(A) In general.--There is authorized to be
appropriated to the Administrator to carry out this
section $200,000,000 for each of fiscal years 2019
through 2023, to remain available until expended.
``(B) Sense of congress.--It is the sense of
Congress that the amounts authorized to be appropriated
to carry out this section will support, for each fiscal
year--
``(i) $10,000,000,000 in secured loans at
the interest rate described in subsection
(d)(2)(A); and
``(ii) $850,000,000 in secured loans at the
interest rate described in subsection
(d)(2)(B)(i).
``(2) Administrative costs.--
``(A) In general.--Of the funds made available to
carry out this section, the Administrator may use for
the administration of this section, including for the
provision of technical assistance to aid State
infrastructure financing authorities in obtaining the
necessary approvals for eligible activities, not more
than $5,000,000 for each of fiscal years 2019 through
2023.
``(B) Fee waivers.--
``(i) In general.--Of the funds made
available to carry out this section, the
Administrator may use for costs related to
processing and reviewing applications,
including underwriting, such amounts as are
necessary for each of fiscal years 2019 through
2023, to remain available until expended.
``(ii) Other fees.--The funds under clause
(i) shall be used in lieu of fees collected
under section 5030(b).
``(3) No impact on other federal funding.--No funds shall
be made available to carry out this section if--
``(A) the total amount made available for a fiscal
year for the State loan funds is less than the total
amount made available for those funds for fiscal year
2018; or
``(B) the amount made available for a fiscal year
for assistance under this subtitle (other than this
section) is less than the amount made available for
that assistance for fiscal year 2018.
``(g) Distribution and Allotment of Funds.--
``(1) Distribution of funds.--In determining the
distribution of funds between the State loan funds, the
Administrator shall--
``(A) provide financial assistance based on need;
and
``(B) give equal consideration to drinking water
projects and wastewater projects.
``(2) Selection.--Notwithstanding section 5028(b), in
providing financial assistance under this section, the
Administrator shall select projects based on need, as
determined by the Administrator.
``(h) Sunset.--The authority to provide assistance under this
section shall terminate on September 30, 2023.''.
(b) Funding.--Section 5033 of the Water Infrastructure Finance and
Innovation Act of 2014 (33 U.S.C. 3912) is amended by inserting
``(other than section 5036)'' after ``this subtitle'' each place it
appears.
(c) Removal of Pilot Designation.--
(1) Subtitle C of title V of the Water Resources Reform and
Development Act of 2014 (33 U.S.C. 3901 et seq.) is amended by
striking the subtitle designation and heading and inserting the
following:
``Subtitle C--Innovative Financing Projects''.
(2) Section 5023 of the Water Infrastructure Finance and
Innovation Act of 2014 (33 U.S.C. 3902) is amended by striking
``pilot'' each place it appears.
(3) Section 5034 of the Water Infrastructure Finance and
Innovation Act of 2014 (33 U.S.C. 3913) is amended by striking
the section designation and heading and inserting the
following:
``SEC. 5034. REPORTS ON PROGRAM IMPLEMENTATION.''.
(4) The table of contents for the Water Resources Reform
and Development Act of 2014 (Public Law 113-121; 128 Stat.
1195) is amended--
(A) by striking the item relating to subtitle C of
title V and inserting the following:
``Subtitle C--Innovative Financing Projects'';
(B) by striking the item relating to section 5034
and inserting the following:
``Sec. 5034. Reports on program implementation.'';
and
(C) by inserting after the item relating to section
5035 the following:
``Sec. 5036. Innovative financing for State loan funds.''.
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