Amends 33 U.S.C. 1383 by (1) adding a new paragraph (13) to subsection (c) to authorize financial assistance to qualified nonprofit entities for construction, acquisition, or improvements to a treatment works or for any activity described in paragraphs (1)–(10); (2) adding paragraph (E) to subsection (i)(3) to prohibit a State from providing additional subsidization under that subsection to a qualified nonprofit entity for assistance described in new subsection (c)(13) or to owners/operators of privately owned treatment works for assistance described in new subsection (l); and (3) adding a new subsection (l) that permits use of funds to provide financial assistance to owners or operators of privately owned treatment works for specified activities (construction/improvements, conservation/reuse, energy reduction, security, and other activities described in (c)(1)–(10)) with a limitation that such assistance primarily and directly benefit the individuals or entities served by the privately owned treatment works and not the shareholders or owners, as determined by the State instrumentality administering the revolving fund.