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I
116TH CONGRESS
2D SESSION
H. R. 8217
To amend the Water Infrastructure Finance and Innovation Act of 2014
with respect to the final maturity date of certain loans, and for other
purposes.
IN THE HOUSE OF REPRESENTATIVES
SEPTEMBER 11, 2020
Mr. GARAMENDI (for himself, Mr. COX of California, Mr. COSTA, Mr.
LAMALFA, Mr. HARDER of California, and Mr. NEWHOUSE) 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 juris-
diction of the committee concerned
A BILL
To amend the Water Infrastructure Finance and Innovation
Act of 2014 with respect to the final maturity date
of certain loans, and for other purposes.
Be it enacted by the Senate and House of Representa-
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tives of the United States of America in Congress assembled,
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SECTION 1. SHORT TITLE.
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This Act may be cited as the ‘‘WIFIA Improvement
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Act of 2020’’.
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SEC. 2. MATURITY DATE.
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Section 5029(b)(5) of the Water Infrastructure Fi-
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nance and Innovation Act of 2014 (33 U.S.C. 3908(b)(5))
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is amended—
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(1) in subparagraph (B), by striking ‘‘The final
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maturity date’’ and inserting ‘‘Notwithstanding sub-
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paragraphs (A) and (B), the final maturity date’’;
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(2) by redesignating subparagraph (B) as sub-
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paragraph (C); and
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(3) by inserting after subparagraph (A) the fol-
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lowing:
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‘‘(B) PROJECTS WITH A USEFUL LIFE OF
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MORE THAN 35 YEARS.—Notwithstanding sub-
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paragraph (A), for a project with a useful life
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of more than 35 years (as determined by the
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Secretary or the Administrator, as applicable),
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the final maturity date of a secured loan under
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this section shall be not later than the earlier
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of—
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‘‘(i) the date that is 55 years after the
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date of substantial completion of the rel-
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evant project (as determined by the Sec-
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retary or the Administrator, as applicable);
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and
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•HR 8217 IH
‘‘(ii) if the useful life of the project is
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less than 55 years, the useful life of the
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project.’’.
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SEC. 3. BUDGETARY TREATMENT OF CERTAIN AMOUNTS
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OF FINANCIAL ASSISTANCE.
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Subtitle C of title V of the Water Infrastructure Fi-
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nance and Innovation Act of 2014 (33 U.S.C. 3901 et
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seq.) is amended by adding at the end the following:
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‘‘SEC.
5036.
BUDGETARY
TREATMENT
OF
CERTAIN
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AMOUNTS OF FINANCIAL ASSISTANCE.
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‘‘If the recipient of financial assistance for a project
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under this subtitle is an eligible entity other than a Fed-
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eral entity, agency, or instrumentality, and the dedicated
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sources of repayment of that financial assistance are non-
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Federal revenue sources, such financial assistance shall,
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for purposes of budgetary treatment under the Federal
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Credit Reform Act of 1990 (2 U.S.C. 661 et seq.)—
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‘‘(1) be deemed to be non-Federal; and
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‘‘(2) be treated as a direct loan or loan guar-
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antee (as such terms are defined, respectively, in
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such Act).’’.
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