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(1) by redesignating sections 11, 12, and 13 as 
sections 12, 13, and 14, respectively; and 
(2) by inserting after section 10 (33 U.S.C. 
467g–1) the following: 
‘‘SEC. 11. PUBLIC AWARENESS AND OUTREACH FOR DAM 
SAFETY. 
‘‘The Administrator, in consultation with other Fed-
eral agencies, State and local governments, dam owners, the 
emergency management community, the private sector, non-
governmental organizations and associations, institutions 
of higher education, and any other appropriate entities 
shall carry out a nationwide public awareness and outreach 
program to assist the public in preparing for, mitigating, 
responding to, and recovering from dam incidents.’’. 
SEC. 9007. AUTHORIZATION OF APPROPRIATIONS. 
(a) NATIONAL DAM SAFETY PROGRAM.— 
(1) ANNUAL AMOUNTS.—Section 14(a)(1) of the 
National Dam Safety Program Act (33 U.S.C. 
467j(a)(1)) (as so redesignated) is amended by strik-
ing ‘‘$6,500,000’’ and all that follows through ‘‘2011’’ 
and inserting ‘‘$9,200,000 for each of fiscal years 
2014 through 2018’’. 
(2) MAXIMUM AMOUNT OF ALLOCATION.—Section 
14(a)(2)(B) of the National Dam Safety Program Act
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† HR 3080 EAS 
(33 U.S.C. 467j(a)(2)(B)) (as so redesignated) is 
amended— 
(A) by striking ‘‘The amount’’ and inserting 
the following: 
‘‘(i) IN GENERAL.—The amount’’; and 
(B) by adding at the end the following: 
‘‘(ii) FISCAL
YEAR
2014
AND
SUBSE-
QUENT
FISCAL
YEARS.—For fiscal year 
2014 and each subsequent fiscal year, the 
amount of funds allocated to a State under 
this paragraph may not exceed the amount 
of funds committed by the State to imple-
ment dam safety activities.’’. 
(b) NATIONAL DAM INVENTORY.—Section 14(b) of the 
National Dam Safety Program Act (33 U.S.C. 467j(b)) (as 
so redesignated) is amended by striking ‘‘$650,000’’ and all 
that follows through ‘‘2011’’ and inserting ‘‘$500,000 for 
each of fiscal years 2014 through 2018’’. 
(c) PUBLIC AWARENESS.—Section 14 of the National 
Dam Safety Program Act (33 U.S.C. 467j) (as so redesig-
nated) is amended— 
(1) by redesignating subsections (c) through (f) 
as subsections (d) through (g), respectively; and 
(2) by inserting after subsection (b) the fol-
lowing:
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† HR 3080 EAS 
‘‘(c) PUBLIC AWARENESS.—There is authorized to be 
appropriated to carry out section 11 $1,000,000 for each 
of fiscal years 2014 through 2018.’’. 
(d) RESEARCH.—Section 14(d) of the National Dam 
Safety Program Act (as so redesignated) is amended by 
striking ‘‘$1,600,000’’ and all that follows through ‘‘2011’’ 
and inserting ‘‘$1,450,000 for each of fiscal years 2014 
through 2018’’. 
(e) DAM SAFETY TRAINING.—Section 14(e) of the Na-
tional Dam Safety Program Act (as so redesignated) is 
amended by striking ‘‘$550,000’’ and all that follows 
through ‘‘2011’’ and inserting ‘‘$750,000 for each of fiscal 
years 2014 through 2018’’. 
(f) STAFF.—Section 14(f) of the National Dam Safety 
Program Act (as so redesignated) is amended by striking 
‘‘$700,000’’ and all that follows through ‘‘2011’’ and insert-
ing ‘‘$1,000,000 for each of fiscal years 2014 through 2018’’. 
TITLE X—INNOVATIVE 
FINANCING PILOT PROJECTS 
SEC. 10001. SHORT TITLE. 
This title may be cited as the ‘‘Water Infrastructure 
Finance and Innovation Act of 2013’’. 
SEC. 10002. PURPOSES. 
The purpose of this title is to establish a pilot program 
to assess the ability of innovative financing tools to—
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(1) promote increased development of critical 
water resources infrastructure by establishing addi-
tional opportunities for financing water resources 
projects that complement but do not replace or reduce 
existing Federal infrastructure financing tools such as 
the State water pollution control revolving loan funds 
established under title VI of the Federal Water Pollu-
tion Control Act (33 U.S.C. 1381 et seq.) and the 
State drinking water treatment revolving loan funds 
established under section 1452 of the Safe Drinking 
Water Act (42 U.S.C. 300j–12); 
(2) attract new investment capital to infrastruc-
ture projects that are capable of generating revenue 
streams through user fees or other dedicated funding 
sources; 
(3) complement existing Federal funding sources 
and address budgetary constraints on the Corps of 
Engineers civil works program and existing waste-
water and drinking water infrastructure financing 
programs; 
(4) leverage private investment in water re-
sources infrastructure; 
(5) align investments in water resources infra-
structure to achieve multiple benefits; and
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(6) assist communities facing significant water 
quality, drinking water, or flood risk challenges with 
the development of water infrastructure projects. 
SEC. 10003. DEFINITIONS. 
In this title: 
(1) 
ADMINISTRATOR.—The 
term 
‘‘Adminis-
trator’’ means the Administrator of the Environ-
mental Protection Agency. 
(2) COMMUNITY
WATER
SYSTEM.—The term 
‘‘community water system’’ has the meaning given the 
term in section 1401 of the Safe Drinking Water Act 
(42 U.S.C. 300f). 
(3) FEDERAL CREDIT INSTRUMENT.—The term 
‘‘Federal credit instrument’’ means a secured loan or 
loan guarantee authorized to be made available under 
this title with respect to a project. 
(4) INVESTMENT-GRADE RATING.—The term ‘‘in-
vestment-grade rating’’ means a rating of BBB 
minus, Baa3, bbb minus, BBB (low), or higher as-
signed by a rating agency to project obligations. 
(5) LENDER.— 
(A) IN
GENERAL.—The term ‘‘lender’’ 
means any non-Federal qualified institutional 
buyer (as defined in section 230.144A(a) of title 
17, Code of Federal Regulations (or a successor
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regulation), known as Rule 144A(a) of the Secu-
rities and Exchange Commission and issued 
under the Securities Act of 1933 (15 U.S.C. 77a 
et seq.)). 
(B) INCLUSIONS.—The term ‘‘lender’’ in-
cludes— 
(i) a qualified retirement plan (as de-
fined in section 4974(c) of the Internal Rev-
enue Code of 1986) that is a qualified insti-
tutional buyer; and 
(ii) a governmental plan (as defined in 
section 414(d) of the Internal Revenue Code 
of 1986) that is a qualified institutional 
buyer. 
(6) LOAN GUARANTEE.—The term ‘‘loan guar-
antee’’ means any guarantee or other pledge by the 
Secretary or the Administrator to pay all or part of 
the principal of, and interest on, a loan or other debt 
obligation issued by an obligor and funded by a lend-
er. 
(7) OBLIGOR.—The term ‘‘obligor’’ means an eli-
gible entity that is primarily liable for payment of 
the principal of, or interest on, a Federal credit in-
strument. 
(8) PROJECT OBLIGATION.—
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(B) the District of Columbia; 
(C) the Commonwealth of Puerto Rico; and 
(D) any other territory or possession of the 
United States. 
(13) STATE
INFRASTRUCTURE
FINANCING
AU-
THORITY.—The term ‘‘State infrastructure financing 
authority’’ means the State entity established or des-
ignated by the Governor of a State to receive a cap-
italization grant provided by, or otherwise carry out 
the requirements of, title VI of the Federal Water Pol-
lution Control Act (33 U.S.C. 1381 et. seq.) or section 
1452 of the Safe Drinking Water Act (42 U.S.C. 
300j–12). 
(14) SUBSIDY
AMOUNT.—The term ‘‘subsidy 
amount’’ means the amount of budget authority suffi-
cient to cover the estimated long-term cost to the Fed-
eral Government of a Federal credit instrument, as 
calculated on a net present value basis, excluding ad-
ministrative costs and any incidental effects on gov-
ernmental receipts or outlays in accordance with the 
Federal Credit Reform Act of 1990 (2 U.S.C. 661 et 
seq.). 
(15) 
SUBSTANTIAL
COMPLETION.—The 
term 
‘‘substantial completion’’, with respect to a project, 
means the earliest date on which a project is consid-
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ered to perform the functions for which the project is 
designed. 
(16) TREATMENT WORKS.—The term ‘‘treatment 
works’’ has the meaning given the term in section 212 
of the Federal Water Pollution Control Act (33 U.S.C. 
1292). 
SEC. 10004. AUTHORITY TO PROVIDE ASSISTANCE. 
(a) IN GENERAL.—The Secretary and the Adminis-
trator may provide financial assistance under this title to 
carry out pilot projects, which shall be selected to ensure 
a diversity of project types and geographical locations. 
(b) RESPONSIBILITY.— 
(1) SECRETARY.—The Secretary shall carry out 
all pilot projects under this title that are eligible 
projects under section 10007(1). 
(2) ADMINISTRATOR.—The Administrator shall 
carry out all pilot projects under this title that are 
eligible projects under paragraphs (2), (3), (4), (5), 
(6), and (8) of section 10007. 
(3) OTHER PROJECTS.—The Secretary or the Ad-
ministrator, as applicable, may carry out eligible 
projects under paragraph (7) or (9) of section 10007. 
SEC. 10005. APPLICATIONS. 
(a) IN GENERAL.—To receive assistance under this 
title, an eligible entity shall submit to the Secretary or the
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Administrator, as applicable, an application at such time, 
in such manner, and containing such information as the 
Secretary or the Administrator may require. 
(b) COMBINED PROJECTS.—In the case of an eligible 
project described in paragraph (8) or (9) of section 10007, 
the Secretary or the Administrator, as applicable, shall re-
quire the eligible entity to submit a single application for 
the combined group of projects. 
SEC. 10006. ELIGIBLE ENTITIES. 
The following entities are eligible to receive assistance 
under this title: 
(1) A corporation. 
(2) A partnership. 
(3) A joint venture. 
(4) A trust. 
(5) A Federal, State, or local governmental enti-
ty, agency, or instrumentality. 
(6) A tribal government or consortium of tribal 
governments. 
(7) A State infrastructure financing authority. 
SEC. 10007. PROJECTS ELIGIBLE FOR ASSISTANCE. 
The following projects may be carried out with 
amounts made available under this title: 
(1) A project for flood control or hurricane and 
storm damage reduction that the Secretary has deter-
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mined is technically sound, economically justified, 
and environmentally acceptable, including— 
(A) a structural or nonstructural measure 
to reduce flood risk, enhance stream flow, or pro-
tect natural resources; and 
(B) a levee, dam, tunnel, aqueduct, res-
ervoir, or other related water infrastructure. 
(2) 1 or more activities that are eligible for as-
sistance under section 603(c) of the Federal Water 
Pollution Control Act (33 U.S.C. 1383(c)), notwith-
standing the public ownership requirement under 
paragraph (1) of that subsection. 
(3) 1 or more activities described in section 
1452(a)(2) of the Safe Drinking Water Act (42 U.S.C. 
300j–12(a)(2)). 
(4) A project for enhanced energy efficiency in 
the operation of a public water system or a publicly 
owned treatment works. 
(5) A project for repair, rehabilitation, or re-
placement of a treatment works, community water 
system, or aging water distribution or waste collec-
tion facility (including a facility that serves a popu-
lation or community of an Indian reservation).
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(6) A brackish or sea water desalination project, 
a managed aquifer recharge project, or a water recy-
cling project. 
(7) Acquisition of real property or an interest in 
real property— 
(A) if the acquisition is integral to a project 
described in paragraphs (1) through (6); or 
(B) pursuant to an existing plan that, in 
the judgment of the Administrator or the Sec-
retary, as applicable, would mitigate the envi-
ronmental impacts of water resources infrastruc-
ture projects otherwise eligible for assistance 
under this section. 
(8) A combination of projects, each of which is 
eligible under paragraph (2) or (3), for which a State 
infrastructure financing authority submits to the Ad-
ministrator a single application. 
(9) A combination of projects secured by a com-
mon security pledge, each of which is eligible under 
paragraph (1), (2), (3), (4), (5), (6), or (7), for which 
an eligible entity, or a combination of eligible enti-
ties, submits a single application. 
SEC. 10008. ACTIVITIES ELIGIBLE FOR ASSISTANCE. 
For purposes of this title, an eligible activity with re-
spect to an eligible project includes the cost of—
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(1) development-phase activities, including plan-
ning, feasibility analysis (including any related anal-
ysis necessary to carry out an eligible project), rev-
enue forecasting, environmental review, permitting, 
preliminary engineering and design work, and other 
preconstruction activities; 
(2) construction, reconstruction, rehabilitation, 
and replacement activities; 
(3) the acquisition of real property or an interest 
in real property (including water rights, land relat-
ing to the project, and improvements to land), envi-
ronmental mitigation (including acquisitions pursu-
ant to section 10007(7)), construction contingencies, 
and acquisition of equipment; 
(4) capitalized interest necessary to meet market 
requirements, reasonably required reserve funds, cap-
ital issuance expenses, and other carrying costs dur-
ing construction; and 
(5) refinancing interim construction funding, 
long-term project obligations, or a secured loan or 
loan guarantee made under this title. 
SEC. 10009. DETERMINATION OF ELIGIBILITY AND PROJECT 
SELECTION. 
(a) ELIGIBILITY REQUIREMENTS.—To be eligible to re-
ceive financial assistance under this title, a project shall
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† HR 3080 EAS 
meet the following criteria, as determined by the Secretary 
or Administrator, as applicable: 
(1) CREDITWORTHINESS.— 
(A) IN GENERAL.—Subject to subparagraph 
(B), the project shall be creditworthy, which shall 
be determined by the Secretary or the Adminis-
trator, as applicable, who shall ensure that any 
financing for the project has appropriate secu-
rity features, such as a rate covenant, to ensure 
repayment. 
(B) PRELIMINARY
RATING
OPINION
LET-
TER.—The Secretary or the Administrator, as 
applicable, shall require each project applicant 
to provide a preliminary rating opinion letter 
from at least 1 rating agency indicating that the 
senior obligations of the project (which may be 
the Federal credit instrument) have the potential 
to achieve an investment-grade rating. 
(C) SPECIAL RULE FOR CERTAIN COMBINED 
PROJECTS.—The Administrator shall develop a 
credit evaluation process for a Federal credit in-
strument provided to a State infrastructure fi-
nancing authority for a project under section 
10007(8) or an entity for a project under section 
10007(9), which may include requiring the pro-
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† HR 3080 EAS 
vision of a preliminary rating opinion letter 
from at least 1 rating agency. 
(2) ELIGIBLE PROJECT COSTS.— 
(A) IN GENERAL.—Subject to subparagraph 
(B), the eligible project costs of a project shall be 
reasonably anticipated to be not less than 
$20,000,000. 
(B) 
RURAL
WATER
INFRASTRUCTURE 
PROJECTS.—For 
rural 
water 
infrastructure 
projects, the eligible project costs of a project 
shall be reasonably anticipated to be not less 
than $5,000,000. 
(3) DEDICATED REVENUE SOURCES.—The Fed-
eral credit instrument for the project shall be repay-
able, in whole or in part, from dedicated revenue 
sources that also secure the project obligations. 
(4) PUBLIC
SPONSORSHIP
OF
PRIVATE
ENTI-
TIES.—In the case of a project carried out by an enti-
ty that is not a State or local government or an agen-
cy or instrumentality of a State or local government 
or a tribal government or consortium of tribal govern-
ments, the project shall be publicly sponsored. 
(5) LIMITATION.—No project receiving Federal 
credit assistance under this title may be financed or
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† HR 3080 EAS 
refinanced (directly or indirectly), in whole or in 
part, with proceeds of any obligation— 
(A) the interest on which is exempt from the 
tax imposed under chapter 1 of the Internal Rev-
enue Code of 1986; or 
(B) with respect to which credit is allowable 
under subpart I or J of part IV of subchapter A 
of chapter 1 of such Code. 
(b) SELECTION CRITERIA.— 
(1) ESTABLISHMENT.—The Secretary or the Ad-
ministrator, as applicable, shall establish criteria for 
the selection of projects that meet the eligibility re-
quirements of subsection (a), in accordance with 
paragraph (2). 
(2) CRITERIA.—The selection criteria shall in-
clude the following: 
(A) The extent to which the project is na-
tionally or regionally significant, with respect to 
the generation of economic and public benefits, 
such as— 
(i) the reduction of flood risk; 
(ii) the improvement of water quality 
and quantity, including aquifer recharge; 
(iii) the protection of drinking water; 
and
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† HR 3080 EAS 
(iv) the support of international com-
merce. 
(B) The extent to which the project financ-
ing plan includes public or private financing in 
addition to assistance under this title. 
(C) The likelihood that assistance under this 
title would enable the project to proceed at an 
earlier date than the project would otherwise be 
able to proceed. 
(D) The extent to which the project uses new 
or innovative approaches. 
(E) The amount of budget authority re-
quired to fund the Federal credit instrument 
made available under this title. 
(F) The extent to which the project— 
(i) protects against extreme weather 
events, such as floods or hurricanes; or 
(ii) helps maintain or protect the envi-
ronment. 
(G) The extent to which a project serves re-
gions with significant energy exploration, devel-
opment, or production areas. 
(H) The extent to which a project serves re-
gions with significant water resource challenges, 
including the need to address—
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† HR 3080 EAS 
(i) water quality concerns in areas of 
regional, national, or international signifi-
cance; 
(ii) water quantity concerns related to 
groundwater, surface water, or other water 
sources; 
(iii) significant flood risk; 
(iv) water resource challenges identi-
fied 
in 
existing 
regional, 
State, 
or 
multistate agreements; or 
(v) water resources with exceptional 
recreational value or ecological importance. 
(I) The extent to which assistance under 
this title reduces the contribution of Federal as-
sistance to the project. 
(3) SPECIAL
RULE
FOR
CERTAIN
COMBINED 
PROJECTS.—For a project described in section 
10007(8), the Administrator shall only consider the 
criteria described in subparagraphs (B) through (I) of 
paragraph (2). 
(c) FEDERAL REQUIREMENTS.—Nothing in this sec-
tion supersedes the applicability of other requirements of 
Federal law (including regulations). 
SEC. 10010. SECURED LOANS. 
(a) AGREEMENTS.—
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† HR 3080 EAS 
(1) IN
GENERAL.—Subject to paragraphs (2) 
through (4), the Secretary or the Administrator, as 
applicable, may enter into agreements with 1 or more 
obligors to make secured loans, the proceeds of which 
shall be used— 
(A) to finance eligible project costs of any 
project selected under section 10009; 
(B) to refinance interim construction fi-
nancing of eligible project costs of any project se-
lected under section 10009; or 
(C) to refinance long-term project obliga-
tions or Federal credit instruments, if that refi-
nancing provides additional funding capacity 
for the completion, enhancement, or expansion of 
any project that— 
(i) is selected under section 10009; or 
(ii) otherwise meets the requirements of 
section 10009. 
(2) LIMITATION
ON
REFINANCING
OF
INTERIM 
CONSTRUCTION
FINANCING.—A secured loan under 
paragraph (1) shall not be used to refinance interim 
construction financing under paragraph (1)(B) later 
than 1 year after the date of substantial completion 
of the applicable project.
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† HR 3080 EAS 
(3) FINANCIAL RISK ASSESSMENT.—Before enter-
ing into an agreement under this subsection for a se-
cured loan, the Secretary or the Administrator, as ap-
plicable, in consultation with the Director of the Of-
fice of Management and Budget and each rating 
agency providing a preliminary rating opinion letter 
under section 10009(a)(1)(B), shall determine an ap-
propriate capital reserve subsidy amount for the se-
cured loan, taking into account each such prelimi-
nary rating opinion letter. 
(4) 
INVESTMENT-GRADE
RATING
REQUIRE-
MENT.—The execution of a secured loan under this 
section shall be contingent on receipt by the senior ob-
ligations of the project of an investment-grade rating. 
(b) TERMS AND LIMITATIONS.— 
(1) IN GENERAL.—A secured loan provided for a 
project under this section shall be subject to such 
terms and conditions, and contain such covenants, 
representations, warranties, and requirements (in-
cluding requirements for audits), as the Secretary or 
the Administrator, as applicable, determines to be ap-
propriate. 
(2) MAXIMUM AMOUNT.—The amount of a se-
cured loan under this section shall not exceed the less-
er of—
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† HR 3080 EAS 
later than 35 years after the date of substantial 
completion of the relevant project. 
(B) SPECIAL RULE FOR STATE INFRASTRUC-
TURE FINANCING AUTHORITIES.—The final ma-
turity date of a secured loan to a State infra-
structure financing authority under this section 
shall be not later than 35 years after the date on 
which amounts are first disbursed. 
(6) NONSUBORDINATION.—A secured loan under 
this section shall not be subordinated to the claims of 
any holder of project obligations in the event of bank-
ruptcy, insolvency, or liquidation of the obligor of the 
project. 
(7) FEES.—The Secretary or the Administrator, 
as applicable, may establish fees at a level sufficient 
to cover all or a portion of the costs to the Federal 
Government of making a secured loan under this sec-
tion. 
(8) NON-FEDERAL SHARE.—The proceeds of a se-
cured loan under this section may be used to pay any 
non-Federal share of project costs required if the loan 
is repayable from non-Federal funds. 
(9) MAXIMUM FEDERAL INVOLVEMENT.— 
(A) IN GENERAL.—Except as provided in 
subparagraph (B), for each project for which as-
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† HR 3080 EAS 
sistance is provided under this title, the total 
amount of Federal assistance shall not exceed 80 
percent of the total project cost. 
(B) EXCEPTION.—Subparagraph (A) shall 
not apply to any rural water project— 
(i) that is authorized to be carried out 
by the Secretary of the Interior; 
(ii) that includes among its bene-
ficiaries a federally recognized Indian tribe; 
and 
(iii) for which the authorized Federal 
share of the total project costs is greater 
than the amount described in subparagraph 
(A). 
(c) REPAYMENT.— 
(1) SCHEDULE.—The Secretary or the Adminis-
trator, as applicable, shall establish a repayment 
schedule for each secured loan provided under this sec-
tion, based on the projected cash flow from project 
revenues and other repayment sources. 
(2) COMMENCEMENT.— 
(A) IN GENERAL.—Scheduled loan repay-
ments of principal or interest on a secured loan 
under this section shall commence not later than
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† HR 3080 EAS 
5 years after the date of substantial completion 
of the project. 
(B) SPECIAL RULE FOR STATE INFRASTRUC-
TURE FINANCING AUTHORITIES.—Scheduled loan 
repayments of principal or interest on a secured 
loan to a State infrastructure financing author-
ity under this title shall commence not later 
than 5 years after the date on which amounts 
are first disbursed. 
(3) DEFERRED PAYMENTS.— 
(A) AUTHORIZATION.—If, at any time after 
the date of substantial completion of a project for 
which a secured loan is provided under this sec-
tion, the project is unable to generate sufficient 
revenues to pay the scheduled loan repayments of 
principal and interest on the secured loan, the 
Secretary or the Administrator, as applicable, 
subject to subparagraph (C), may allow the obli-
gor to add unpaid principal and interest to the 
outstanding balance of the secured loan. 
(B) INTEREST.—Any payment deferred 
under subparagraph (A) shall— 
(i) continue to accrue interest in ac-
cordance with subsection (b)(4) until fully 
repaid; and
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† HR 3080 EAS 
(ii) be scheduled to be amortized over 
the remaining term of the secured loan. 
(C) CRITERIA.— 
(i) IN GENERAL.—Any payment defer-
ral under subparagraph (A) shall be contin-
gent on the project meeting such criteria as 
the Secretary or the Administrator, as ap-
plicable, may establish. 
(ii) 
REPAYMENT
STANDARDS.—The 
criteria established under clause (i) shall 
include standards for reasonable assurance 
of repayment. 
(4) PREPAYMENT.— 
(A) USE OF EXCESS REVENUES.—Any ex-
cess revenues that remain after satisfying sched-
uled debt service requirements on the project obli-
gations and secured loan and all deposit require-
ments under the terms of any trust agreement, 
bond resolution, or similar agreement securing 
project obligations may be applied annually to 
prepay a secured loan under this section without 
penalty. 
(B) USE OF PROCEEDS OF REFINANCING.— 
A secured loan under this section may be pre-
paid at any time without penalty from the pro-
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† HR 3080 EAS 
ceeds of refinancing from non-Federal funding 
sources. 
(d) SALE OF SECURED LOANS.— 
(1) IN GENERAL.—Subject to paragraph (2), as 
soon as practicable after the date of substantial com-
pletion of a project and after providing a notice to the 
obligor, the Secretary or the Administrator, as appli-
cable, may sell to another entity or reoffer into the 
capital markets a secured loan for a project under 
this section, if the Secretary or the Administrator, as 
applicable, determines that the sale or reoffering can 
be made on favorable terms. 
(2) CONSENT OF OBLIGOR.—In making a sale or 
reoffering under paragraph (1), the Secretary or the 
Administrator, as applicable, may not change the 
original terms and conditions of the secured loan 
without the written consent of the obligor. 
(e) LOAN GUARANTEES.— 
(1) IN GENERAL.—The Secretary or the Admin-
istrator, as applicable, may provide a loan guarantee 
to a lender in lieu of making a secured loan under 
this section, if the Secretary or the Administrator, as 
applicable, determines that the budgetary cost of the 
loan guarantee is substantially the same as that of a 
secured loan.
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† HR 3080 EAS 
(2) TERMS.—The terms of a loan guarantee pro-
vided under this subsection shall be consistent with 
the terms established in this section for a secured 
loan, except that the rate on the guaranteed loan and 
any prepayment features shall be negotiated between 
the obligor and the lender, with the consent of the Sec-
retary or the Administrator, as applicable. 
SEC. 10011. PROGRAM ADMINISTRATION. 
(a) REQUIREMENT.—The Secretary or the Adminis-
trator, as applicable, shall establish a uniform system to 
service the Federal credit instruments made available under 
this title. 
(b) FEES.— 
(1) IN GENERAL.—The Secretary or the Admin-
istrator, as applicable, may collect and spend fees, 
contingent on authority being provided in appropria-
tions Acts, at a level that is sufficient to cover— 
(A) the costs of services of expert firms re-
tained pursuant to subsection (d); and 
(B) all or a portion of the costs to the Fed-
eral Government of servicing the Federal credit 
instruments provided under this title. 
(c) SERVICER.— 
(1) IN GENERAL.—The Secretary or the Admin-
istrator, as applicable, may appoint a financial enti-
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† HR 3080 EAS 
ty to assist the Secretary or the Administrator in 
servicing the Federal credit instruments provided 
under this title. 
(2) DUTIES.—A servicer appointed under para-
graph (1) shall act as the agent for the Secretary or 
the Administrator, as applicable. 
(3) FEE.—A servicer appointed under para-
graph (1) shall receive a servicing fee, subject to ap-
proval by the Secretary or the Administrator, as ap-
plicable. 
(d) ASSISTANCE FROM EXPERTS.—The Secretary or 
the Administrator, as applicable, may retain the services, 
including counsel, of organizations and entities with exper-
tise in the field of municipal and project finance to assist 
in the underwriting and servicing of Federal credit instru-
ments provided under this title. 
(e) APPLICABILITY OF OTHER LAWS.—Section 513 of 
the Federal Water Pollution Control Act (33 U.S.C. 1372) 
applies to the construction of a project carried out, in whole 
or in part, with assistance made available through a Fed-
eral credit instrument under this title in the same manner 
that section applies to a treatment works for which a grant 
is made available under that Act.
370 
† HR 3080 EAS 
and the extent to which the water resources projects 
have been successful at addressing those impacts; 
(3) any recommendations for approaches for re-
pairing, rebuilding, or restoring infrastructure, land, 
and natural resources that consider the risks and 
vulnerabilities associated with past and future ex-
treme weather events; 
(4) whether a reevaluation of existing manage-
ment approaches of the Corps of Engineers could re-
sult in greater efficiencies in water management and 
project delivery that would enable the Corps of Engi-
neers to better prepare for, contain, and respond to 
flood, storm, and drought conditions; 
(5) any recommendations for improving the 
planning processes of the Corps of Engineers to pro-
vide opportunities for comprehensive management of 
water resources that increases efficiency and improves 
response to flood, storm, and drought conditions; 
(6) any recommendations on the use of resilient 
construction techniques to reduce future vulnerability 
from flood, storm, and drought conditions; and 
(7) any recommendations for improving ap-
proaches to rebuilding or restoring infrastructure and 
natural resources that contribute to risk reduction,