,,ii #aaeth ,,congress #b;d ,session ,s4 #bcfd ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,january #cj1 #bjah ,mr4 ,boozman 7for himself1 ,mr4 ,booker1 ,mrs4 ,feinstein1 and ,mr4 ,inhofe7 introduced the following bill2 which was read twice and referred to the ,committee on ,environment and ,public ,works ,a ,,bill ,to amend the ,water ,infrastructure ,finance and ,innovation ,act of #bjad to provide to ,state infrastructure financing authorities additional opportunities to receive loans under that ,act to support drinking water and clean water ,state revolving funds to deliver water infrastructure to communities across the ,united ,states1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,securing ,required ,funding for ,water ,infrastructure ,now ,act or the ,,srf ,,win ,act4 #b4 ,innovative financing for ,state loan funds 7a7 ,in general ,the ,water ,infrastructure ,finance and ,innovation ,act of #bjad 7#cc ,u4,s4,c4 #cija et seq47 is amended by adding at the end the following3 #ejcf4 ,innovative financing for ,state loan funds 7a7 ,definition of ,state loan funds ,in this section1 the term ,state loan funds means-- 7#a7 ,state drinking water treatment revolving loan funds established under section #adeb of the ,safe ,drinking ,water ,act 7#db ,u4,s4,c4 #cjj;j-#ab72 and 7#b7 ,state water pollution control revolving funds established under title ,,vi of the ,federal ,water ,pollution ,control ,act 7#cc ,u4,s4,c4 #acha et seq474 7b7 ,financial assistance to ,state loan funds ,the ,administrator may provide financial assistance under this section to ,state infrastructure financing authorities for ,state loan funds to carry out water and wastewater infrastructure projects in accordance with this section4 7c7 ,eligible activities 7#a7 ,in general ,the following activities may be carried out by a ,state infrastructure financing authority with financial assistance made available under this section3 7,a7 ,one or more activities that are included in the intended use plan under section #fjf7;c7 of the ,federal ,water ,pollution ,control ,act 7#cc ,u4,s4,c4 #achf7;c774 7,b7 ,one or more activities that are included in the project priority list of the intended use plan under section #adeb7;b7 of the ,safe ,drinking ,water ,act 7#db ,u4,s4,c4 #cjj;j-#ab7;b774 7#b7 ,administrative costs ,financial assistance provided under this section may be used to pay the reasonable costs of administration related to that financial assistance4 7#c7 ,application fees ,section #ejbi7;b77#g7 shall not apply to financial assistance made available under this section4 7#d7 ,treatment of projects ,in determining whether to provide financial assistance under this section1 the ,administrator shall consider a project to be all of the activities included in an intended use plan described in subparagraph 7,a7 or 7,b7 of paragraph 7#a74 7#e7 ,state and local decisionmaking ,a ,state infrastructure financing authority that receives financial assistance under this section may use the assistance for any activity included in an intended use plan described in subparagraph 7,a7 or 7,b7 of paragraph 7#a74 7d7 ,requirements 7#a7 ,in general ,except as otherwise provided in this section1 the requirements and procedures under this subtitle shall apply to a project under this section4 7#b7 ,interest rate 7,a7 ,in general ,except as provided in subparagraph 7,b71 the interest rate on a secured loan provided under this section shall be equal to the yield on ,united ,states ,treasury securities of a similar maturity to the maturity of the secured loan on the date of execution of the loan agreement4 7,b7 ,certain ,states 7i7 ,in general ,in the case of a ,state described in clause 7ii7-- 7,i7 the interest rate on a secured loan provided under this section shall be #hj percent of the interest rate under subparagraph 7,a72 but 7,,ii7 if there is not sufficient demand for loans under this subparagraph 7as determined by the ,administrator71 the ,administrator may provide a secured loan at an interest rate that is not less than #ej percent and not more than #hj percent of the interest rate under subparagraph 7,a71 as determined by the ,administrator with respect to each loan4 7ii7 ,states described ,a ,state referred to in clause 7i7 is a ,state-- 7,i7 that received less than #b percent of the total amount of funds made available to ,states for the ,state loan funds for the most recent fiscal year for which data is available2 or 7,,ii7 for which the ,president has declared a major disaster in accordance with section #dja of the ,robert ,t4 ,stafford ,disaster ,relief and ,emergency ,assistance ,act 7#db ,u4,s4,c4 #eagj7 during the period beginning on ,january #a1 #bjag1 and ending on the date of enactment of this section1 if the secured loan is for a project related to wastewater or drinking water infrastructure damaged by the major disaster4 7,c7 ,distribution of loans 7i7 ,in general ,except as provided in clause 7ii71 of the total amount of funds made available to provide secured loans under this section-- 7,i7 #ej percent shall be provided for secured loans at the interest rate described in subparagraph 7,a72 and 7,,ii7 #ej percent shall be provided for secured loans at the interest rate described in subparagraph 7,b77i7 to ,states described in subparagraph 7,b77ii74 7ii7 ,reallocation ,for any fiscal year1 if amounts for loans described in clause 7i77,,ii7 remain available1 the ,administrator may reallocate the amounts to be used for loans described in clause 7i77,i7 to meet applicant demand4 7#c7 ,certain ,state reviews 7,a7 ,in general ,a project under this section shall comply with any applicable ,state environmental or engineering review requirements pursuant to1 as applicable-- 7i7 title ,,vi of the ,federal ,water ,pollution ,control ,act 7#cc ,u4,s4,c4 #acha et seq472 7ii7 section #adeb of the ,safe ,drinking ,water ,act 7#db ,u4,s4,c4 #cjj;j-#ab72 7iii7 section #ce4cadj of title #dj1 ,code of ,federal ,regulations 7or successor regulations72 and 7iv7 section #ce4cehj of title #dj1 ,code of ,federal ,regulations 7or successor regulations74 7,b7 ,no new reviews required ,nothing in this section requires any additional or new environmental or engineering review for a project under this section other than any requirement otherwise applicable to the project4 7#d7 ,federal share ,notwithstanding section #ejbi7;b77#i71 financial assistance for a project under this section may be used to pay up to #ajj percent of the costs of the project4 7#e7 ,total amount per ,state ,financial assistance under this section shall be used to support loans in an amount not to exceed #g1jjj1jjj1jjj per ,state for the period of fiscal years #bjai through #bjbc4 7e7 ,expedited review of applications ,not later than #ahj days after the date on which the ,administrator receives a complete application for a project under this section1 the ,administrator shall1 through a written notice to the ,state infrastructure financing authority-- 7#a7 approve the application2 or 7#b7 deny the application and provide an explanation as to why the application was denied4 7f7 ,funding 7#a7 ,authorization of appropriations 7,a7 ,in general ,there is authorized to be appropriated to the ,administrator to carry out this section #bjj1jjj1jjj for each of fiscal years #bjai through #bjbc1 to remain available until expended4 7,b7 ,sense of ,congress ,it is the sense of ,congress that the amounts authorized to be appropriated to carry out this section will support1 for each fiscal year-- 7i7 #aj1jjj1jjj1jjj in secured loans at the interest rate described in subsection 7d77#b77;,a72 and 7ii7 #hej1jjj1jjj in secured loans at the interest rate described in subsection 7d77#b77;,b77i74 7#b7 ,administrative costs 7,a7 ,in general ,of the funds made available to carry out this section1 the ,administrator may use for the administration of this section1 including for the provision of technical assistance to aid ,state infrastructure financing authorities in obtaining the necessary approvals for eligible activities1 not more than #e1jjj1jjj for each of fiscal years #bjai through #bjbc4 7,b7 ,fee waivers 7i7 ,in general ,of the funds made available to carry out this section1 the ,administrator may use for costs related to processing and reviewing applications1 including underwriting1 such amounts as are necessary for each of fiscal years #bjai through #bjbc1 to remain available until expended4 7ii7 ,other fees ,the funds under clause 7i7 shall be used in lieu of fees collected under section #ejcj7;b74 7#c7 ,no impact on other ,federal funding ,no funds shall be made available to carry out this section if-- 7,a7 the total amount made available for a fiscal year for the ,state loan funds is less than the total amount made available for those funds for fiscal year #bjah2 or 7,b7 the amount made available for a fiscal year for assistance under this subtitle 7other than this section7 is less than the amount made available for that assistance for fiscal year #bjah4 7g7 ,distribution and allotment of funds 7#a7 ,distribution of funds ,in determining the distribution of funds between the ,state loan funds1 the ,administrator shall-- 7,a7 provide financial assistance based on need2 and 7,b7 give equal consideration to drinking water projects and wastewater projects4 7#b7 ,selection ,notwithstanding section #ejbh7;b71 in providing financial assistance under this section1 the ,administrator shall select projects based on need1 as determined by the ,administrator4 7h7 ,sunset ,the authority to provide assistance under this section shall terminate on ,september #cj1 #bjbc4 4 7b7 ,funding ,section #ejcc of the ,water ,infrastructure ,finance and ,innovation ,act of #bjad 7#cc ,u4,s4,c4 #ciab7 is amended by inserting 7other than section #ejcf7 after this subtitle each place it appears4 7c7 ,removal of pilot designation 7#a7 ,subtitle ,c of title ,v of the ,water ,resources ,reform and ,development ,act of #bjad 7#cc ,u4,s4,c4 #cija et seq47 is amended by striking the subtitle designation and heading and inserting the following3 ,c ,innovative financing projects 4 7#b7 ,section #ejbc of the ,water ,infrastructure ,finance and ,innovation ,act of #bjad 7#cc ,u4,s4,c4 #cijb7 is amended by striking pilot each place it appears4 7#c7 ,section #ejcd of the ,water ,infrastructure ,finance and ,innovation ,act of #bjad 7#cc ,u4,s4,c4 #ciac7 is amended by striking the section designation and heading and inserting the following3 #ejcd4 ,reports on program implementation 4 7#d7 ,the table of contents for the ,water ,resources ,reform and ,development ,act of #bjad 7,public ,law #aac-aba2 #abh ,stat4 #aaie7 is amended-- 7,a7 by striking the item relating to subtitle ,c of title ,v and inserting the following3 ,subtitle ,c--,innovative ,financing ,projects 2 7,b7 by striking the item relating to section #ejcd and inserting the following3 ,sec4 #ejcd4 ,reports on program implementation4 2 and 7,c7 by inserting after the item relating to section #ejce the following3 ,sec4 #ejcf4 ,innovative financing for ,state loan funds4 4