S. 4206 — Introduced in Senate

II 116th CONGRESS 2d Session S. 4206 IN THE SENATE OF THE UNITED STATES July 2, 2020Mr. Merkley introduced the following bill; 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 2014 to authorize the interest rate to be used on a secured loan to be the interest rate for United States Treasury securities of a similar maturity on the date of first disbursement of the loan, and for other purposes. 1. Interest rate of secured loans (a) In general Section 5029(b)(4) of the Water Infrastructure Finance and Innovation Act of 2014 (33 U.S.C. 3908(b)(4)) is amended— (1) by inserting the lesser of after less than; (2) by striking on the date and inserting the following: on— (A) the date ; and (3) in subparagraph (A) (as so designated), by striking the period at the end and inserting ; and; and (4) by adding at the end the following: (B) the date of the first disbursement of the secured loan. . (b) Applicability 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— (1) a loan agreement has been entered into; but (2) no disbursement has been made.