II 

115TH CONGRESS 

2D SESSION S. 2364 

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 SENATE OF THE UNITED STATES 

JANUARY 30, 2018 

Mr. BOOZMAN (for himself, Mr. BOOKER, Mrs. FEINSTEIN, and Mr. INHOFE) 

introduced the following bill; which was read twice and referred to the 

Committee on Environment and Public Works 

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. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 


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1 SECTION 1. SHORT TITLE. 

2 This Act may be cited as the ‘‘Securing Required 

3 Funding for Water Infrastructure Now Act’’ or the ‘‘SRF 

4 WIN Act’’. 

5 SEC. 2. INNOVATIVE FINANCING FOR STATE LOAN FUNDS. 

6 (a) IN GENERAL.—The Water Infrastructure Fi7 nance and Innovation Act of 2014 (33 U.S.C. 3901 et 

8 seq.) is amended by adding at the end the following: 

9 ‘‘SEC. 5036. INNOVATIVE FINANCING FOR STATE LOAN 

10 FUNDS. 

11 ‘‘(a) DEFINITION OF STATE LOAN FUNDS.—In this 

12 section, the term ‘State loan funds’ means— 

13 ‘‘(1) State drinking water treatment revolving 

14 loan funds established under section 1452 of the 

15 Safe Drinking Water Act (42 U.S.C. 300j–12); and 

16 ‘‘(2) State water pollution control revolving 

17 funds established under title VI of the Federal 

18 Water Pollution Control Act (33 U.S.C. 1381 et 

19 seq.). 

20 ‘‘(b) FINANCIAL ASSISTANCE TO STATE LOAN

21 FUNDS.—The Administrator may provide financial assist22 ance under this section to State infrastructure financing 

23 authorities for State loan funds to carry out water and 

24 wastewater infrastructure projects in accordance with this 

25 section. 

26 ‘‘(c) ELIGIBLE ACTIVITIES.— 


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1 ‘‘(1) IN GENERAL.—The following activities 

2 may be carried out by a State infrastructure financ3 ing authority with financial assistance made avail4 able under this section: 

5 ‘‘(A) One or more activities that are in6 cluded in the intended use plan under section 

7 606(c) of the Federal Water Pollution Control 

8 Act (33 U.S.C. 1386(c)). 

9 ‘‘(B) One or more activities that are in10 cluded in the project priority list of the in11 tended use plan under section 1452(b) of the 

12 Safe Drinking Water Act (42 U.S.C. 300j– 

13 12(b)). 

14 ‘‘(2) ADMINISTRATIVE COSTS.—Financial as15 sistance provided under this section may be used to 

16 pay the reasonable costs of administration related to 

17 that financial assistance. 

18 ‘‘(3) APPLICATION FEES.—Section 5029(b)(7) 

19 shall not apply to financial assistance made available 

20 under this section. 

21 ‘‘(4) TREATMENT OF PROJECTS.—In deter22 mining whether to provide financial assistance under 

23 this section, the Administrator shall consider a 

24 project to be all of the activities included in an inVerDate Sep 11 2014 21:36 Jan 31, 2018 Jkt 079200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\S2364.IS S2364

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1 tended use plan described in subparagraph (A) or 

2 (B) of paragraph (1). 

3 ‘‘(5) STATE AND LOCAL DECISIONMAKING.—A 

4 State infrastructure financing authority that receives 

5 financial assistance under this section may use the 

6 assistance for any activity included in an intended 

7 use plan described in subparagraph (A) or (B) of 

8 paragraph (1). 

9 ‘‘(d) REQUIREMENTS.— 

10 ‘‘(1) IN GENERAL.—Except as otherwise pro11 vided in this section, the requirements and proce12 dures under this subtitle shall apply to a project 

13 under this section. 

14 ‘‘(2) INTEREST RATE.— 

15 ‘‘(A) IN GENERAL.—Except as provided in 

16 subparagraph (B), the interest rate on a se17 cured loan provided under this section shall be 

18 equal to the yield on United States Treasury se19 curities of a similar maturity to the maturity of 

20 the secured loan on the date of execution of the 

21 loan agreement. 

22 ‘‘(B) CERTAIN STATES.— 

23 ‘‘(i) IN GENERAL.—In the case of a 

24 State described in clause (ii)— 


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1 ‘‘(I) the interest rate on a se2 cured loan provided under this section 

3 shall be 80 percent of the interest rate 

4 under subparagraph (A); but 

5 ‘‘(II) if there is not sufficient de6 mand for loans under this subpara7 graph (as determined by the Adminis8 trator), the Administrator may pro9 vide a secured loan at an interest rate 

10 that is not less than 50 percent and 

11 not more than 80 percent of the inter12 est rate under subparagraph (A), as 

13 determined by the Administrator with 

14 respect to each loan. 

15 ‘‘(ii) STATES DESCRIBED.—A State 

16 referred to in clause (i) is a State— 

17 ‘‘(I) that received less than 2 

18 percent of the total amount of funds 

19 made available to States for the State 

20 loan funds for the most recent fiscal 

21 year for which data is available; or 

22 ‘‘(II) for which the President has 

23 declared a major disaster in accord24 ance with section 401 of the Robert 

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1 gency Assistance Act (42 U.S.C. 

2 5170) during the period beginning on 

3 January 1, 2017, and ending on the 

4 date of enactment of this section, if 

5 the secured loan is for a project re6 lated to wastewater or drinking water 

7 infrastructure damaged by the major 

8 disaster. 

9 ‘‘(C) DISTRIBUTION OF LOANS.— 

10 ‘‘(i) IN GENERAL.—Except as pro11 vided in clause (ii), of the total amount of 

12 funds made available to provide secured 

13 loans under this section— 

14 ‘‘(I) 50 percent shall be provided 

15 for secured loans at the interest rate 

16 described in subparagraph (A); and 

17 ‘‘(II) 50 percent shall be provided 

18 for secured loans at the interest rate 

19 described in subparagraph (B)(i) to 

20 States described in subparagraph 

21 (B)(ii). 

22 ‘‘(ii) REALLOCATION.—For any fiscal 

23 year, if amounts for loans described in 

24 clause (i)(II) remain available, the Admin25 istrator may reallocate the amounts to be 


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1 used for loans described in clause (i)(I) to 

2 meet applicant demand. 

3 ‘‘(3) CERTAIN STATE REVIEWS.— 

4 ‘‘(A) IN GENERAL.—A project under this 

5 section shall comply with any applicable State 

6 environmental or engineering review require7 ments pursuant to, as applicable— 

8 ‘‘(i) title VI of the Federal Water Pol9 lution Control Act (33 U.S.C. 1381 et 

10 seq.); 

11 ‘‘(ii) section 1452 of the Safe Drink12 ing Water Act (42 U.S.C. 300j–12); 

13 ‘‘(iii) section 35.3140 of title 40, Code 

14 of Federal Regulations (or successor regu15 lations); and 

16 ‘‘(iv) section 35.3580 of title 40, Code 

17 of Federal Regulations (or successor regu18 lations). 

19 ‘‘(B) NO NEW REVIEWS REQUIRED.— 

20 Nothing in this section requires any additional 

21 or new environmental or engineering review for 

22 a project under this section other than any re23 quirement otherwise applicable to the project. 

24 ‘‘(4) FEDERAL SHARE.—Notwithstanding sec25 tion 5029(b)(9), financial assistance for a project 


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1 under this section may be used to pay up to 100 

2 percent of the costs of the project. 

3 ‘‘(5) TOTAL AMOUNT PER STATE.—Financial 

4 assistance under this section shall be used to sup5 port loans in an amount not to exceed 

6 $7,000,000,000 per State for the period of fiscal 

7 years 2019 through 2023. 

8 ‘‘(e) EXPEDITED REVIEW OF APPLICATIONS.—Not 

9 later than 180 days after the date on which the Adminis10 trator receives a complete application for a project under 

11 this section, the Administrator shall, through a written no12 tice to the State infrastructure financing authority— 

13 ‘‘(1) approve the application; or 

14 ‘‘(2) deny the application and provide an expla15 nation as to why the application was denied. 

16 ‘‘(f) FUNDING.— 

17 ‘‘(1) AUTHORIZATION OF APPROPRIATIONS.— 

18 ‘‘(A) IN GENERAL.—There is authorized to 

19 be appropriated to the Administrator to carry 

20 out this section $200,000,000 for each of fiscal 

21 years 2019 through 2023, to remain available 

22 until expended. 

23 ‘‘(B) SENSE OF CONGRESS.—It is the 

24 sense of Congress that the amounts authorized 


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1 to be appropriated to carry out this section will 

2 support, for each fiscal year— 

3 ‘‘(i) $10,000,000,000 in secured loans 

4 at the interest rate described in subsection 

5 (d)(2)(A); and 

6 ‘‘(ii) $850,000,000 in secured loans at 

7 the interest rate described in subsection 

8 (d)(2)(B)(i). 

9 ‘‘(2) ADMINISTRATIVE COSTS.— 

10 ‘‘(A) IN GENERAL.—Of the funds made 

11 available to carry out this section, the Adminis12 trator may use for the administration of this 

13 section, including for the provision of technical 

14 assistance to aid State infrastructure financing 

15 authorities in obtaining the necessary approvals 

16 for eligible activities, not more than $5,000,000 

17 for each of fiscal years 2019 through 2023. 

18 ‘‘(B) FEE WAIVERS.— 

19 ‘‘(i) IN GENERAL.—Of the funds 

20 made available to carry out this section, 

21 the Administrator may use for costs re22 lated to processing and reviewing applica23 tions, including underwriting, such 

24 amounts as are necessary for each of fiscal 


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1 years 2019 through 2023, to remain avail2 able until expended. 

3 ‘‘(ii) OTHER FEES.—The funds under 

4 clause (i) shall be used in lieu of fees col5 lected under section 5030(b). 

6 ‘‘(3) NO IMPACT ON OTHER FEDERAL FUND7 ING.—No funds shall be made available to carry out 

8 this section if— 

9 ‘‘(A) the total amount made available for 

10 a fiscal year for the State loan funds is less 

11 than the total amount made available for those 

12 funds for fiscal year 2018; or 

13 ‘‘(B) the amount made available for a fis14 cal year for assistance under this subtitle (other 

15 than this section) is less than the amount made 

16 available for that assistance for fiscal year 

17 2018. 

18 ‘‘(g) DISTRIBUTION AND ALLOTMENT OF FUNDS.— 

19 ‘‘(1) DISTRIBUTION OF FUNDS.—In deter20 mining the distribution of funds between the State 

21 loan funds, the Administrator shall— 

22 ‘‘(A) provide financial assistance based on 

23 need; and 

24 ‘‘(B) give equal consideration to drinking 

25 water projects and wastewater projects. 


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1 ‘‘(2) SELECTION.—Notwithstanding section 

2 5028(b), in providing financial assistance under this 

3 section, the Administrator shall select projects based 

4 on need, as determined by the Administrator. 

5 ‘‘(h) SUNSET.—The authority to provide assistance 

6 under this section shall terminate on September 30, 

7 2023.’’. 

8 (b) FUNDING.—Section 5033 of the Water Infra9 structure Finance and Innovation Act of 2014 (33 U.S.C. 

10 3912) is amended by inserting ‘‘(other than section 

11 5036)’’ after ‘‘this subtitle’’ each place it appears. 

12 (c) REMOVAL OF PILOT DESIGNATION.— 

13 (1) Subtitle C of title V of the Water Resources 

14 Reform and Development Act of 2014 (33 U.S.C. 

15 3901 et seq.) is amended by striking the subtitle 

16 designation and heading and inserting the following: 

17 ‘‘Subtitle C—Innovative Financing 

18 Projects’’. 

19 (2) Section 5023 of the Water Infrastructure 

20 Finance and Innovation Act of 2014 (33 U.S.C. 

21 3902) is amended by striking ‘‘pilot’’ each place it 

22 appears. 

23 (3) Section 5034 of the Water Infrastructure 

24 Finance and Innovation Act of 2014 (33 U.S.C. 


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1 3913) is amended by striking the section designation 

2 and heading and inserting the following: 

3 ‘‘SEC. 5034. REPORTS ON PROGRAM IMPLEMENTATION.’’. 

4 (4) The table of contents for the Water Re5 sources Reform and Development Act of 2014 (Pub6 lic Law 113–121; 128 Stat. 1195) is amended— 

7 (A) by striking the item relating to subtitle 

8 C of title V and inserting the following: 

‘‘Subtitle C—Innovative Financing Projects’’; 

9 (B) by striking the item relating to section 

10 5034 and inserting the following: 

‘‘Sec. 5034. Reports on program implementation.’’; 

11 and 

12 (C) by inserting after the item relating to 

13 section 5035 the following: 

‘‘Sec. 5036. Innovative financing for State loan funds.’’. 

Æ 


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