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Treats WIFIA financial assistance where repayment comes from non‑Federal revenue as non‑Federal for federal budget scoring under the Federal Credit Reform Act, and requires that such assistance be classified as a direct loan or a loan guarantee under that Act. The change adds a new statutory provision to ensure these WIFIA transactions are accounted for according to their repayment source rather than scored as Federal outlays.
Adds a new section 5037, titled “Budgetary treatment of certain amounts of financial assistance,” to Subtitle C of title V of the Water Infrastructure Finance and Innovation Act of 2014 (33 U.S.C. 3901 et seq.).
Scope/condition: This provision applies when the recipient of financial assistance for a project under this subtitle is an eligible entity other than a Federal entity, agency, or instrumentality, and the dedicated sources of repayment for that financial assistance are non‑Federal revenue sources.
Budgetary treatment requirement 1: Under the Federal Credit Reform Act of 1990 (2 U.S.C. 661 et seq.), such financial assistance shall be deemed to be non‑Federal for purposes of budgetary treatment.
Budgetary treatment requirement 2: Under the Federal Credit Reform Act of 1990, such financial assistance shall be treated as a direct loan or a loan guarantee (as those terms are defined in the Federal Credit Reform Act).
Primary affected parties are non‑Federal WIFIA borrowers (state/local governments, public water systems, and other eligible non‑Federal entities) whose projects are repaid from non‑Federal revenue. For those borrowers, the amendment does not change loan terms, eligibility, or repayment obligations; it changes only how the federal government records and scores the assistance under the Federal Credit Reform Act. Federal actors (OMB, CBO, and the administering agency) will apply the new scoring rule when preparing budget documents and estimating credit subsidy or exposure. The practical effect is largely fiscal-accounting: federal reported liabilities from these WIFIA transactions will reflect the non‑Federal repayment source, which could affect budget enforcement calculations, limit the appearance of Federal exposure, and influence program capacity estimates. There are no new mandates on states or localities and no new appropriations or emergency designations included.
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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.
Introduced April 28, 2025 by Jim Costa · Last progress April 28, 2025
Referred to the Subcommittee on Water Resources and Environment.
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.
Introduced in House