Costa Introduces Bipartisan Legislation to Fund Local Water Infrastructure Projects
WASHINGTON – U.S. Representatives Jim Costa (CA-21), Kim Schrier (WA-08), Dan Newhouse (WA-04), John Garamendi (CA-08), Doug LaMalfa (CA-01), Lori Chavez Deremer (OR-05), and Sharice Davids (KS-03) introduced the Water Infrastructure Finance and Innovation Act Amendments of 2023, a bipartisan bill to update and improve a loan program that funds critical water and wastewater infrastructure projects in the San Joaquin Valley and California.
"We cannot ignore the devastating impacts of drought on California and the West. We must quickly and effectively invest in our crumbling water infrastructure so that we can conserve every drop of water possible," said Rep. Costa. "I am proud to co-sponsor this bipartisan legislation that will provide improved financing tools that allow us to better invest in our water system."
The Water Infrastructure Finance and Innovation Act of 2014 (WIFIA) established the WIFIA program, a federal credit program administered by the EPA and other agencies for eligible water and wastewater infrastructure projects. Under this program, eligible borrowers, including state, Tribal, and federal government entities, apply for low-interest, flexible loans to fund water infrastructure projects. These loans are invaluable resources that allow local governments to meet the infrastructure needs of their respective communities at an affordable rate.
The Water Infrastructure Finance and Innovation Act Amendments of 2023 would improve WIFIA by extending funding for the program, expanding eligibility for loans, and other common-sense reforms. More specifically, this legislation would:
Broaden and restore WIFIA funding and financing eligibility to state entities and non-federal cost shares in federally involved projects. This includes state-led water storage projects, transferred works of the Bureau of Reclamation, and congressionally authorized Army Corps of Engineers (USACE) projects.
Authorize the use of collaborative project delivery methods for WIFIA projects, allowing more flexibility and reducing the time and cost of the project.
Allow certain federal water infrastructure loans to have maturity dates of up to 55 years.
Reauthorize the USACE WIFIA program through FY2027.
This bill would clarify that federally owned infrastructure managed and operated by non-federal entities, such as the San Luis Delta-Mendota Water Authority, can utilize WIFIA funding to finance water infrastructure projects, such as the C.W. "Bill" Jones Pumping plant rewind.