Sec. 1. Interest rate of secured loans
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Section 5029(b)(4) of the Water Infrastructure Finance and Innovation Act of 2014 ( 33 U.S.C. 3908(b)(4) ) is amended— by inserting the lesser of after less than ; by striking on the date and inserting the following: on— the date ; and in subparagraph
(A)(as so designated), by striking the period at the end and inserting ; and ; and by adding at the end the following: the date of the first disbursement of the secured loan. . Notwithstanding any other provision of law, this Act and the amendments made by this Act shall apply to any secured loan (as defined in section 5022 of the Water Infrastructure Finance and Innovation Act of 2014 ( 33 U.S.C. 3901 )) for which, on the date of enactment of this Act— a loan agreement has been entered into; but no disbursement has been made.
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