S. 1760 — Restoring WIFIA Eligibility Act of 2025

This section establishes budgetary treatment under the Federal Credit Reform Act of 1990 (FCRA) for certain financial assistance provided under the Water Infrastructure Finance and Innovation Act of 2014 (WIFIA). Specifically, if the recipient is a non-federal eligible entity (i.e., other than a federal entity, agency, or instrumentality) and dedicated repayment sources are non-federal revenues, such assistance (1) is deemed non-federal and (2) is treated as a direct loan or loan guarantee, as defined in FCRA (2 U.S.C. 661a). (As background, WIFIA authorizes the Environmental Protection Agency and Army Corps of Engineers to provide federal credit assistance—typically direct loans and loan guarantees—for drinking water, wastewater, and stormwater infrastructure projects to state and local governments, tribes, and other non-federal entities; FCRA generally requires estimating and recording the net present value subsidy cost of such federal credit programs in the federal budget.)