Water Infrastructure Finance and Innovation Reauthorization Act of 2018

To reauthorize and amend the Water Infrastructure Finance and Innovation Act of 2014, and for other purposes. 1. Short title This Act may be cited as the Water Infrastructure Finance and Innovation Reauthorization Act of 2018 2. Innovative financing pilot projects (a) Authority To provide assistance Section 5023 of the Water Infrastructure Finance and Innovation Act of 2014 ( 33 U.S.C. 3902 (1) in subsection (a), by striking Secretary and the (2) by striking subsection (b) and inserting the following: (b) Required approval of certain projects by Secretary (1) In general The Secretary shall approve projects under this subtitle that are eligible under section 5026(1) or, as applicable, section 5026(8). (2) Guidance The Secretary shall issue guidance on information required to be included in applications for projects requiring approval from the Secretary under this subsection. . (b) Applications Section 5024 of the Water Infrastructure Finance and Innovation Act of 2014 ( 33 U.S.C. 3903 (1) by striking subsection (a) and inserting the following: (a) In general To receive assistance under this subtitle, an eligible entity shall submit to the Administrator, and the Secretary, if applicable, an application at such time, in such manner, and containing such information as the Administrator and the Secretary, if applicable may require. ; and (2) in subsection (b), by striking Secretary or the Administrator, as applicable, Administrator, and the Secretary, if applicable, (c) Determination of eligibility and project selection Section 5028 of the Water Infrastructure Finance and Innovation Act of 2014 ( 33 U.S.C. 3907 (1) in subsection (a)— (A) in paragraph (1)— (i) in subparagraph (A), by striking Secretary or the Administrator, as applicable, Administrator (ii) by striking Secretary or the Administrator, as applicable. Administrator. (B) in paragraph (4)(B), by striking Secretary or the Administrator, as appropriate, Administrator (C) in paragraph (5)(A), by striking the Administrator has authority under paragraph (2) or (3) of section 5023(b) and for which (D) by striking paragraph (6) and inserting the following: (6) Operation and maintenance plan The Administrator, and the Secretary, if applicable, shall determine whether an applicant for assistance under this subtitle has developed, and identified adequate revenues to implement, a plan for operating, maintaining, and repairing the project over the useful life of the project. ; and (2) in subsection (b)(1), by striking Secretary or the Administrator, as applicable, Administrator (d) Secured loans Section 5029 of the Water Infrastructure Finance and Innovation Act of 2014 ( 33 U.S.C. 3908 (1) in subsection (a)— (A) by striking Secretary or the Administrator, as applicable, Administrator (B) in paragraph (2), by striking Secretary or the Administrator, as applicable Administrator (2) in subsection (b)— (A) in paragraph (1), by striking Secretary or the Administrator, as applicable, Administrator (B) in paragraph (5)(A)(ii), by striking Secretary or the Administrator, as applicable Administrator (C) in paragraph (7), by striking Secretary or the Administrator, as applicable, Administrator (3) in subsection (c)— (A) in paragraph (1), by striking Secretary or the Administrator, as applicable, Administrator (B) in paragraph (2)(A), by striking Secretary or the Administrator, as applicable Administrator (C) in paragraph (3)— (i) in subparagraph (A), by striking Secretary or the Administrator, as applicable Administrator (ii) in subparagraph (C)(i), by striking Secretary or the Administrator, as applicable, Administrator (4) in subsection (d), by striking Secretary or the Administrator, as applicable, Administrator (5) in subsection (e)— (A) in paragraph (1), by striking Secretary or the Administrator, as applicable, Administrator (B) in paragraph (2), by striking Secretary or the Administrator, as applicable. Administrator. (e) Program administration Section 5030 of the Water Infrastructure Finance and Innovation Act of 2014 ( 33 U.S.C. 3909 (1) by striking Secretary or the Administrator, as applicable, Administrator (2) in subsection (c)— (A) by striking Secretary or the Administrator, as applicable. Administrator. (B) in paragraph (1), by striking to assist the Secretary or to assist (f) Regulations Section 5032 of the Water Infrastructure Finance and Innovation Act of 2014 ( 33 U.S.C. 3911 (1) by striking Secretary or the Administrator, as applicable, Administrator (2) by striking regulations as the Secretary or regulations as the (g) Funding Section 5033 of the Water Infrastructure Finance and Innovation Act of 2014 ( 33 U.S.C. 3912 (1) in subsection (a)— (A) in the matter preceding paragraph (1), by striking each of the Secretary and (B) in paragraph (4), by striking and (C) by striking paragraph (5) and inserting the following: (5) $90,000,000 for fiscal year 2019; (6) $100,000,000 for fiscal year 2020; (7) $110,000,000 for fiscal year 2021; (8) $120,000,000 for fiscal year 2022; (9) $130,000,000 for fiscal year 2023; and (10) $140,000,000 for fiscal year 2024. ; (2) by redesignating subsections (b), (c), and (d) as subsections (c), (d), and (e), respectively; (3) by inserting after subsection (a) the following: (b) Project funding requirements (1) In general Except as provided in paragraph (2), of the funds made available to carry out this subtitle— (A) 50 percent of the funds shall be used for projects that require the approval of the Secretary under section 5023(b)(1); and (B) 50 percent of the funds shall be used for projects under this subtitle not described in subparagraph (A). (2) Reallocation For any fiscal year, if amounts for projects described in paragraph (1)(A) remain available after receiving all applications submitted under section 5024, the Administrator may reallocate the amounts to be used for projects described in paragraph (1)(B). ; (4) in subsection (c) (as so redesignated), by striking the Secretary or the Administrator the Administrator may use for the administration of this subtitle, including for the provision of technical assistance to aid project sponsors in obtaining the necessary approvals for the project, not more than $3,000,000 for each of fiscal years 2015 through 2024. (5) in subsection (d) (as so redesignated), by striking Secretary or the Administrator, as applicable, Administrator (6) in subsection (e) (as so redesignated), by striking Secretary or the Administrator, as applicable, Administrator (h) Reports on pilot program implementation Section 5034 of the Water Infrastructure Finance and Innovation Act of 2014 ( 33 U.S.C. 3913 (1) in subsection (a), in the matter preceding paragraph (1), by striking the Secretary and (2) in subsection (b)— (A) in paragraph (1), by striking 4 years after the date of enactment of this Act 2 years after the date of enactment of the Water Infrastructure Finance and Innovation Reauthorization Act of 2018 (B) in paragraph (2)(B)(i), by striking Secretary or the Administrator, as applicable, Administrator

Summary: Water Infrastructure Finance and Innovation Reauthorization Act of 2018 This bill reauthorizes through FY2024 and revises the Water Infrastructure Finance and Innovation Act program, including by designating the Environmental Protection Agency (EPA) as the sole administrator of the program, thus replacing the current joint administration of the program by the EPA and the U.S. Army Corps of Engineers.