Sec. 4201. WIFIA reauthorization and innovative financing for State loan funds

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Section 5023 of the Water Resources Reform and Development Act of 2014 ( 33 U.S.C. 3902 ) is amended— by striking pilot each place it appears; and in subsection (b)(1), by inserting provide financial assistance to before carry out . Section 5028(a)(1)(E) of the Water Resources Reform and Development Act of 2014 ( 33 U.S.C. 3907(a)(1)(E) ) is amended to read as follows: The Administrator shall develop a credit evaluation process for a Federal credit instrument provided to— a State infrastructure financing authority for a project under section 5026(9), which may include requiring the provision of a final rating opinion letter from at least one rating agency; or an entity for a project under section 5026(10), which may include requiring the provision of a final rating opinion letter from at least two rating agencies. .

Section 5029(c)(2)(B) of the Water Resources Reform and Development Act of 2014 ( 33 U.S.C. 3908(c)(2)(B) ) is amended— by striking Scheduled and inserting the following: Scheduled ; and by adding at the end: None of the funds for repayment of a secured loan under this title from a State infrastructure financing authority may come from funds provided to a State revolving loan fund under title VI of the Federal Water Pollution Control Act ( 33 U.S.C. 1381 et seq.) or section 1452 of the Safe Drinking Water Act ( 42 U.S.C. 300j–12 ). .

Section 5033 of the Water Resources Reform and Development Act of 2014 ( 33 U.S.C. 3912 ) is amended— in subsection (a)— by redesignating paragraphs

(1)through

(5)as subparagraphs

(A)through (E), respectively, and indenting appropriately; in the matter preceding subparagraph

(A)(as so redesignated), by striking There is and inserting the following: There are ; and by adding at the end the following: There is authorized to be appropriated to the Administrator to carry out this subtitle $50,000,000 for each of fiscal years 2020 and 2021, to remain available until expended. ; and in subsection (b)— by striking Of the funds and inserting the following: Of the funds ; and by adding at the end the following: Of the funds made available to carry out this subtitle, 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 $5,000,000 for each of fiscal years 2020 and 2021. . Section 5029(b)(9) of the Water Resources Reform and Development Act of 2014 ( 33 U.S.C. 3908(b)(9) ) is amended by adding at the end the following: Notwithstanding subparagraph (A), a State infrastructure financing authority may finance up to 100 percent of the costs of a project using the proceeds of financial assistance authorized under section 5033(e), provided that, in the event of a default with respect to any such assistance, the State infrastructure financing authority is solely responsible for immediate repayment of such costs. . Section 5030 of the Water Resources Reform and Development Act of 2014 ( 33 U.S.C. 3909 ) is amended— in subsection (b), by inserting after paragraph

(1)the following: The Administrator, in the case where a State infrastructure financing authority obtains financial assistance under section 5033(e), shall require as a condition of obtaining such assistance, that the State infrastructure financing authority is prohibited from passing any portion of the fees required under section 5029(b)(7) to any party that utilizes any portion of such assistance for a project funded by such authority. ; and by redesignating subsection

(e)as subsection

(h)and inserting after subsection

(d)the following: A project described in section 5026(9) for which funding is provided under this title shall comply with any applicable State environmental or engineering review requirements pursuant to, as applicable— title VI of the Federal Water Pollution Control Act ( 33 U.S.C. 1381 et seq.); and section 1452 of the Safe Drinking Water Act ( 42 U.S.C. 300j–12 ). Nothing in this title requires any additional or new environmental or engineering review for a project described in section 5026(9) for which funding is provided, other than any requirement otherwise applicable to the project. Not later than 180 days after the date on which the Administrator receives a complete application from a State infrastructure financing authority for a project under section 5026(9), the Administrator shall, through a written notice to the State infrastructure financing authority— approve the application; or provide detailed guidance and an explanation of any changes to the application necessary for approval of the application. . Section 5033 of the Water Resources Reform and Development Act of 2014 ( 33 U.S.C. 3912 ) is further amended by adding at the end the following: With respect to fiscal years 2020 and 2021, if the Administrator has available for obligation in a fiscal year at least $50,000,000, there is authorized to be appropriated to the Administrator $5,000,000 for that fiscal year to provide financial assistance for projects described in section 5026(9) to State infrastructure financing authorities. No funds shall be made available in a fiscal year to the Administrator for purposes of this subsection if— the total amount appropriated for the fiscal year for State loan funds under section 1452 of the Safe Drinking Water Act is less than either the amount made available for such purpose in fiscal year 2018, or 105 percent of the previous fiscal year’s appropriation for such purpose, whichever is greater; and the total amount appropriated for the fiscal year for water pollution control revolving funds under title VI of the Federal Water Pollution Control Act is less than either the amount made available for such purpose for fiscal year 2018, or 105 percent of the previous fiscal year’s appropriation for such purpose, whichever is greater. If the Administrator provides financial assistance to a State infrastructure financing authority under section 5029 using funds made available pursuant to this subsection, the Administrator shall specify in the agreement under such section the amount of such assistance that is attributable to such funds. . Section 5030 of the Water Resources Reform and Development Act of 2014 ( 33 U.S.C. 3909 ), as amended by subsection (b), is further amended by inserting after subsection

(f)the following: Subject to paragraphs

(3)and (4), the Administrator may enter into an agreement with another relevant Federal agency to provide assistance in administering and servicing Federal credit instruments that such agency is authorized to make available. The Administrator may act as an agent for the head of another Federal agency under paragraph (1), subject to the terms of any agreement entered into by the Administrator and the head of such other agency under such clause. The authority of the Administrator to provide assistance under paragraph

(1)is subject to— the availability of funds appropriated to the other Federal agency that may be transferred to the Administrator to carry out an agreement entered into under paragraph (1); and the transfer of such funds to the Administrator to carry out such an agreement. Nothing in this subsection affects the authority of the Administrator with respect to the selection of projects described in paragraphs (1), (8), or

(10)of section 5026 to receive financial assistance under this subtitle. . Section 5034 of the Water Resources Reform and Development Act of 2014 ( 33 U.S.C. 3913 ) is amended— in the section heading, by striking ; and PILOT in subsection (b)(1), by striking 4 years after the date of enactment of this Act and inserting 3 years after the date of enactment of the . Water Resources Development Act of 2018

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