“To amend the Federal Water Pollution Control Act with respect to additional subsidization, and for other purposes.”
No CRS summary available for this bill.
This section revises the additional subsidization provisions applicable to state water pollution control revolving funds (CWSRFs), which provide loans and other financial assistance for wastewater treatment works and related water quality projects. Specifically, it (1) refines the criteria for additional subsidization to prioritize assistance that helps ratepayers maintain access to wastewater (including stormwater) treatment services; (2) authorizes states to use up to the greater of 50% of their annual CWSRF capitalization grants or the annual average over the prior 10 fiscal years of state deposits exceeding the required match for such subsidization (replacing prior paragraph (3)); (3) requires states to use at least 20% of capitalization grants for additional subsidization if there are sufficient qualified applications; and (4) excludes loans with interest rates of 0% or higher from counting as additional subsidization. (Thus, states may provide more extensive loan forgiveness or negative-interest financing, particularly those contributing substantial matching funds.)