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Read twice and referred to the Committee on the Budget.
Introduced May 14, 2025 by John R. Curtis · Last progress May 14, 2025
Clarifies how certain WIFIA loans and loan guarantees are counted for federal budget rules: when the borrower is an eligible non‑Federal entity and repayments come from non‑Federal revenues, the assistance is treated as non‑Federal and must be recorded as a direct loan or loan guarantee under the Federal Credit Reform Act of 1990. The amendment is a narrow technical change about budgetary accounting and scoring for WIFIA financial assistance.
Adds a new section 5037 titled "Budgetary treatment of certain amounts of financial assistance" to the Water Infrastructure Finance and Innovation Act of 2014.
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 are non‑Federal revenue sources. These factual conditions must be met for the budgetary treatment rules in the section to apply.
When the conditions in this section are met, the financial assistance shall be deemed to be non‑Federal for purposes of budgetary treatment under the Federal Credit Reform Act of 1990.
When the conditions in this section are met, the financial assistance shall be treated as a direct loan or loan guarantee, as those terms are defined in section 502 of the Federal Credit Reform Act.
Primary affected parties are eligible non‑Federal borrowers in the WIFIA program (states, local governments, municipal water utilities, and other qualified non‑Federal entities) because the amendment defines how their WIFIA assistance is to be treated for federal budget accounting when repaid with non‑Federal revenues. The administering agency (EPA) and federal budget offices (CBO and OMB) are affected because they must apply FCRA procedures to count those transactions as direct loans or loan guarantees, which changes how program costs and federal exposure are reported. Local communities and public water systems could see indirect effects in project presentation or federal budget transparency, though the amendment does not change loan terms, eligibility, or available funding. Overall impacts are largely administrative and fiscal‑reporting in nature rather than substantive changes to project finance or program benefits.
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Read twice and referred to the Committee on the Budget.
Introduced in Senate