Sec. 5. Water pollution control revolving loan funds
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/bill/113/hr/3862/ih/section-5A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 603(d)(1) of the Federal Water Pollution Control Act ( 33 U.S.C. 1383(d)(1) ) is amended— in subparagraph
(A)by striking 20 years and inserting the lesser of 30 years or the design life of the project to be financed with the proceeds of the loan ; and in subparagraph
(B)by striking not later than 20 years after project completion and inserting upon the expiration of the term of the loan . Section 603 of such Act ( 33 U.S.C. 1383 ) is amended by adding at the end the following: In any case in which a State provides assistance to a municipality or intermunicipal, interstate, or State agency under subsection (d), the State may provide additional subsidization, including forgiveness of principal, negative interest loans, and grants to benefit a municipality that— meets the State’s affordability criteria established under paragraph (2); or does not meet the State’s affordability criteria if the recipient— seeks additional subsidization to benefit individual ratepayers in the residential user rate class; and demonstrates to the State that such ratepayers will experience a significant hardship from the increase in rates necessary to finance the project or activity for which assistance is sought. On or before September 30, 2015, and after providing notice and an opportunity for public comment, a State shall establish affordability criteria to assist in identifying municipalities that would experience a significant hardship raising the revenue necessary to finance a project or activity eligible for assistance under section 603(c)(1) if additional subsidization is not provided. Such criteria shall be based on income data, population trends, and other data determined relevant by the State, including whether the project or activity is to be carried out in an economically distressed area, as described in section 301 of the Public Works and Economic Development Act of 1965 ( 42 U.S.C. 3161 ). If a State has previously established, after providing notice and an opportunity for public comment, affordability criteria that meet the requirements of subparagraph (A), the State may use the criteria for the purposes of this subsection. For purposes of this Act, any such criteria shall be treated as affordability criteria established under this paragraph. The Administrator may publish information to assist States in establishing affordability criteria under subparagraph (A). A State shall use not less than 20 percent but not more than 30 percent of the amount of the capitalization grants received by the State under this title in fiscal years beginning after September 30, 2015, to provide additional subsidization to eligible recipients under paragraph (1). .
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