Drought Resilience Investment Act of 2015

Bill: 114-hr-1710
Sponsor: full_name: Rep. McNerney, Jerry [D-CA-9]
Introduced: 2015-03-26
Policy area: Water Resources Development
Subjects: Disaster relief and insurance

Water resources funding

Water use and supply
Latest action: action_date: 2015-03-27
text: Referred to the Subcommittee on Environment and the Economy.

Summaries:
action_date: 2015-03-26
action_desc: Introduced in House
text: <p><strong>Drought Resilience Investment Act of 2015</strong></p> <p>Amends the Water Resources Reform and Development Act of 2014 to exempt a water resources infrastructure project receiving federal credit assistance under the Water Infrastructure Finance and Innovation Act, that is carried out in a state during any period in which a state of drought declaration issued by the state's governor is in effect, from the prohibition against being financed with proceeds of any: (1) obligation that is tax exempt; or (2) qualified tax credit bond or a Build America Bond.</p> <p>Specifies that a state of drought declaration shall remain in effect until the date on which the governor rescinds the declaration.</p> <p>Terminates this Act on September 30, 2018.</p>

tv_txt: I 114th CONGRESS 1st Session H. R. 1710 IN THE HOUSE OF REPRESENTATIVES March 26, 2015 Mr. McNerney (for himself, Ms. Matsui , and Mr. Honda ) introduced the following bill; which was 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 A BILL To amend the Water Resources Reform and Development Act of 2014 to provide additional financing options for water infrastructure projects carried out in States in which the Governor of the State has issued a state of drought emergency declaration, and for other purposes.

1. Short title This Act may be cited as the Drought Resilience Investment Act of 2015 . 2. Financing of water infrastructure projects in States with drought declarations Section 5028(a) of the Water Resources Reform and Development Act of 2014 (128 Stat. 1336) is amended— (1) in paragraph (5) by striking No project and inserting Except as provided in paragraph (8), no project ; and (2) by adding at the end the following: (8) Projects in States with drought declarations (A) Exemption Paragraph (5) shall not apply with respect to a project carried out in a State during any period in which the State has in effect a state of drought declaration issued by the Governor of the State. (B) Period of state of drought declaration For purposes of subparagraph (A), a state of drought declaration shall remain in effect until the date on which the Governor rescinds the declaration. (C) Sunset date This paragraph shall cease to apply beginning on September 30, 2018. .