,,ii  #aafth ,,congress  #b;d ,session  
,s4 #dbjf  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,july #b1      
#bjbj,mr4 ,merkley 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 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 loan1 and for other 
purposes4  #a4 ,interest rate of secured
 loans  7a7 ,in general ,section        
#ejbi7;b77#d7 of the ,water             
,infrastructure ,finance and ,innovation
 ,act of #bjad 7#cc ,u4,s4,c4           
#cijh7;b77#d77 is amended-- 7#a7 by     
inserting the lesser of after less than2
  7#b7 by striking on the date and      
inserting the following3 on-- 7,a7 the  
date  2 and  7#c7 in subparagraph 7,a7  

7as so designated71 by striking the     
period at the end and inserting 2 and2  
and  7#d7 by adding at the end the      
following3  7,b7 the date of the first  
disbursement of the secured loan4  4    
7b7 ,applicability ,notwithstanding any 
other provision of law1 this ,act and   
the amendments made by this ,act shall  
apply to any secured loan 7as defined in
 section #ejbb of the ,water            
,infrastructure ,finance and ,innovation
 ,act of #bjad 7#cc ,u4,s4,c4 #cija77   
for which1 on the date of enactment of  
this ,act-- 7#a7 a loan agreement has   
been entered into2 but  7#b7 no         
disbursement has been made4