{ "id": "R43315", "type": "CRS Report", "typeId": "REPORTS", "number": "R43315", "active": true, "source": "EveryCRSReport.com, University of North Texas Libraries Government Documents Department", "versions": [ { "source": "EveryCRSReport.com", "id": 598145, "date": "2019-05-01", "retrieved": "2019-12-20T19:19:49.097427", "title": "Water Infrastructure Financing: The Water Infrastructure Finance and Innovation Act (WIFIA) Program", "summary": "The Water Infrastructure Finance and Innovation Act (WIFIA) program provides financial assistance for water infrastructure projects, including projects to build and upgrade wastewater and drinking water treatment systems. Congress established the WIFIA program in the Water Resources Reform and Development Act of 2014 (WRRDA 2014, P.L. 113-121).\nThe WIFIA concept is modeled after a similar program that finances transportation projects, the Transportation Infrastructure Finance and Innovation Act (TIFIA) program. Proponents of the WIFIA approach, including water utility organizations, cite several potential benefits:\nWIFIA provides credit assistance to large water infrastructure projects that may otherwise have difficulty obtaining financing.\nWIFIA provides credit assistance, namely direct loans, at U.S. Treasury rates, potentially lowering the cost of capital for borrowers.\nWIFIA assistance has less of a federal budgetary effect than conventional project grants that are not repaid, because only the subsidy cost of a loan (representing the presumed default rate on loans) is required to be appropriated. \nWIFIA support limits the federal government\u2019s exposure to default, because projects must be found creditworthy with a revenue stream for repayment to be eligible for assistance.\nOn the other hand, opponents of the WIFIA approach, including organizations that represent state environmental agency officials, have cited several concerns:\nFederal funding for a WIFIA program could have a detrimental effect on federal support for established State Revolving Fund (SRF) programs that provide the largest source of water infrastructure assistance today.\nIf WIFIA funding resulted in a decrease in SRF assistance, smaller projects may face financing challenges.\nThe Congressional Budget Office has warned that the future costs of a WIFIA program to the federal budget may be underestimated.\nAmerica\u2019s Water Infrastructure Act of 2018 (AWIA; P.L. 115-270), enacted on October 23, 2018, removed the pilot designation from the WIFIA program, reauthorized appropriations, and revised provisions related to program administration. \nAppropriations for the WIFIA program have increased since its inception, allowing EPA to provide increasing amounts of credit assistance each year:\nFY2017 appropriations totaled $30 million. \nFY2018 appropriations totaled $63 million. \nFY2019 appropriations totaled $68 million.\nOn April 5, 2019, EPA announced a third round of WIFIA funding, inviting prospective borrowers to submit letters of interest to EPA. From these submittals, the agency will select projects for funding. EPA estimated that its budget authority would provide approximately $6 billion in credit assistance.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "https://www.crs.gov/Reports/R43315", "sha1": "7188ec4fce3615f75428f24da59f7374adaaa9b7", "filename": "files/20190501_R43315_7188ec4fce3615f75428f24da59f7374adaaa9b7.html", "images": { "/products/Getimages/?directory=R/html/R43315_files&id=/0.png": "files/20190501_R43315_images_a36a1c5873f8640228a0e3314e54154410240eb4.png" } }, { "format": "PDF", "encoding": null, "url": "https://www.crs.gov/Reports/pdf/R43315", "sha1": "e94c25af71c81c2bd7d6212906a50aed10f97443", "filename": "files/20190501_R43315_e94c25af71c81c2bd7d6212906a50aed10f97443.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4909, "name": "Water Resource Management" }, { "source": "IBCList", "id": 4929, "name": "Water Quality" } ] }, { "source": "EveryCRSReport.com", "id": 585661, "date": "2018-09-26", "retrieved": "2018-09-27T13:16:15.111931", "title": "Water Infrastructure Financing: The Water Infrastructure Finance and Innovation Act (WIFIA) Program", "summary": "The Water Infrastructure Finance and Innovation Act (WIFIA) program provides financial assistance for water infrastructure projects, including projects to build and upgrade wastewater and drinking water treatment systems. Congress established the WIFIA program in the Water Resources Reform and Development Act of 2014 (WRRDA 2014, P.L. 113-121).\nThe WIFIA concept is modeled after a similar program that finances transportation projects, the Transportation Infrastructure Finance and Innovation Act (TIFIA) program. Proponents of the WIFIA approach, including water utility organizations, cite several potential benefits\nWIFIA provides credit assistance to large water infrastructure projects that may otherwise have difficulty obtaining financing.\nWIFIA provides credit assistance, namely direct loans, at U.S. Treasury rates, potentially lowering the cost of capital for borrowers.\nWIFIA assistance has less of a federal budgetary effect than conventional project grants that are not repaid, because only the subsidy cost of a loan (representing the presumed default rate on loans) is required to be appropriated. \nWIFIA support limits the federal government\u2019s exposure to default, because projects must be found creditworthy with a revenue stream for repayment to be eligible for assistance.\nOn the other hand, opponents of the WIFIA approach, including organizations that represent state environmental agency officials, have cited several concerns\nFederal funding for a WIFIA program could have a detrimental effect on federal support for established State Revolving Fund (SRF) programs that provide the largest source of water infrastructure assistance today.\nIf WIFIA funding resulted in a decrease in SRF assistance, smaller projects may face financing challenges.\nThe Congressional Budget Office has warned that the future costs of a WIFIA program to the federal budget may be underestimated.\nFor FY2017, Congress appropriated $30 million to the U.S. Environmental Protection Agency (EPA) for the WIFIA program through two appropriations acts: P.L. 114-254 provided $20 million to EPA to begin the financing selection process (including $3 million for administrative purposes); P.L. 115-31 provided an additional $8 million to EPA to apply toward loan subsidy costs plus $2 million for administrative expenses. The combined FY2017 appropriation for subsidy costs ($25 million) allowed the agency to invite 12 entities across the country to apply for loans totaling $2.3 billion that support a variety of water infrastructure projects. \nFor FY2018, the Consolidated Appropriations Act, 2018 (P.L. 115-141), provided $63 million for the WIFIA program (including $8 million for administrative costs). EPA announced a second round of WIFIA funding on April 4, 2018. EPA estimated that its budget authority ($55 million) would provide approximately $5.5 billion in credit assistance.\nThe 115th Congress is considering S. 3021, America\u2019s Water Infrastructure Act of 2018. S. 3021 combines elements of other omnibus water authorization bills considered by the 115th Congress. S. 3021, which passed the House on September 13, 2018, would make WIFIA permanent rather than a pilot program and authorize appropriations at a level of $50 million for each of FY2020 and FY2021. It would establish special rules for WIFIA assistance to state SRF finance authorities, including allowing states to finance up to 100% of project costs using WIFIA assistance. S. 3021 would also authorize another $5 million in appropriations for WIFIA assistance to state finance authorities in years where EPA receives at least $50 million in WIFIA appropriations. However, this extra $5 million would be available only if appropriations for the clean water and drinking water state revolving fund programs match at least the FY2018 levels or 105% or more of the previous year\u2019s funding, whichever is greater. \nAs of the date of this report, Congress has not appropriated funds (nor have any been requested) that would enable the U.S. Army Corps of Engineers to prepare for making WIFIA loans under the authority in WRRDA 2014.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R43315", "sha1": "2e8a103c224e752824827349ee9087e9ae92535a", "filename": "files/20180926_R43315_2e8a103c224e752824827349ee9087e9ae92535a.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R43315", "sha1": "38ecb52374e7af2b33f6f34fffde81afc505fc9f", "filename": "files/20180926_R43315_38ecb52374e7af2b33f6f34fffde81afc505fc9f.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4909, "name": "Water Resource Management" }, { "source": "IBCList", "id": 4929, "name": "Water Quality" } ] }, { "source": "EveryCRSReport.com", "id": 581820, "date": "2018-06-11", "retrieved": "2018-06-12T14:00:09.044715", "title": "Water Infrastructure Financing: The Water Infrastructure Finance and Innovation Act (WIFIA) Program", "summary": "The Water Infrastructure Finance and Innovation Act (WIFIA) program provides financial assistance for water infrastructure projects, including projects to build and upgrade wastewater and drinking water treatment systems. Congress established the WIFIA program in the Water Resources Reform and Development Act of 2014 (WRRDA 2014, P.L. 113-121).\nThe WIFIA concept is modeled after a similar program that finances transportation projects, the Transportation Infrastructure Finance and Innovation Act (TIFIA) program. Proponents of the WIFIA approach, including water utility organizations, cite several potential benefits\nWIFIA provides credit assistance to large water infrastructure projects that may otherwise have difficulty obtaining financing.\nWIFIA provides credit assistance, namely direct loans, at U.S. Treasury rates, potentially lowering the cost of capital for borrowers.\nWIFIA assistance has less of a federal budgetary effect than conventional project grants that are not repaid, because only the subsidy cost of a loan (representing the presumed default rate on loans) is required to be appropriated. \nWIFIA support limits the federal government\u2019s exposure to default, because projects must be found creditworthy with a revenue stream for repayment to be eligible for assistance.\nOn the other hand, opponents of the WIFIA approach, including organizations that represent state environmental agency officials, have cited several concerns\nFederal funding for a WIFIA program could have a detrimental effect on federal support for established State Revolving Fund (SRF) programs that provide the largest source of water infrastructure assistance today.\nIf WIFIA funding resulted in a decrease in SRF assistance, smaller projects may face financing challenges.\nThe Congressional Budget Office has warned that the future costs of a WIFIA program to the federal budget may be underestimated.\nFor FY2017, Congress appropriated $30 million to the U.S. Environmental Protection Agency (EPA) for the WIFIA program through two appropriations acts: P.L. 114-254 provided $20 million to EPA to begin the financing selection process (including $3 million for administrative purposes); P.L. 115-31 provided an additional $8 million to EPA to apply toward loan subsidy costs plus $2 million for administrative expenses. The combined FY2017 appropriation for subsidy costs ($25 million) allowed the agency to invite 12 entities across the country to apply for loans totaling $2.3 billion that support a variety of water infrastructure projects. \nFor FY2018, the Consolidated Appropriations Act, 2018 (P.L. 115-141), provided $63 million for the WIFIA program (including $8 million for administrative costs). EPA announced a second round of WIFIA funding on April 4, 2018. EPA estimated that its budget authority ($55 million) would provide approximately $5.5 billion in credit assistance.\nLegislation in the 115th Congress\u2014including S. 2800, America\u2019s Water Infrastructure Act of 2018, as reported\u2014would amend WIFIA for various purposes.\nAs of the date of this report, Congress has not appropriated funds (nor have any been requested) that would enable the U.S. Army Corps of Engineers to prepare for making WIFIA loans under the authority in WRRDA 2014.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R43315", "sha1": "b7cc2e5d1e9057468f23c2e59b52c568ed1da1af", "filename": "files/20180611_R43315_b7cc2e5d1e9057468f23c2e59b52c568ed1da1af.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R43315", "sha1": "6502daf2ebb3460128363e6b99522d564da8db88", "filename": "files/20180611_R43315_6502daf2ebb3460128363e6b99522d564da8db88.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4909, "name": "Water Resource Management" }, { "source": "IBCList", "id": 4929, "name": "Water Quality" } ] }, { "source": "EveryCRSReport.com", "id": 580419, "date": "2018-04-23", "retrieved": "2018-04-24T13:03:24.009752", "title": "Water Infrastructure Financing: The Water Infrastructure Finance and Innovation Act (WIFIA) Program", "summary": "The Water Infrastructure Finance and Innovation Act (WIFIA) program provides financial assistance for water infrastructure projects, including projects to build and upgrade wastewater and drinking water treatment systems. Congress established the WIFIA program in the Water Resources Reform and Development Act of 2014 (WRRDA 2014, P.L. 113-121).\nThe WIFIA concept is modeled after a similar program that finances transportation projects, the Transportation Infrastructure Finance and Innovation Act (TIFIA) program. Proponents of the WIFIA approach, including water utility organizations, cite several potential benefits:\nWIFIA provides credit assistance to large water infrastructure projects that may otherwise have difficulty obtaining financing.\nWIFIA provides credit assistance, namely direct loans, at U.S. Treasury rates, potentially lowering the cost of capital for borrowers.\nWIFIA assistance has less of a federal budgetary effect than conventional project grants that are not repaid, because only the subsidy cost of a loan (representing the presumed default rate on loans) is required to be appropriated. \nWIFIA support limits the federal government\u2019s exposure to default, because projects must be found creditworthy with a revenue stream for repayment to be eligible for assistance.\nOn the other hand, opponents of the WIFIA approach, including organizations that represent state environmental agency officials, have cited several concerns:\nFederal funding for a WIFIA program could have a detrimental effect on federal support for established State Revolving Fund (SRF) programs that provide the largest source of water infrastructure assistance today.\nIf WIFIA funding resulted in a decrease in SRF assistance, smaller projects may face financing challenges.\nThe Congressional Budget Office has warned that the future costs of a WIFIA program to the federal budget may be underestimated.\nFor FY2017, Congress appropriated $30 million to the U.S. Environmental Protection Agency (EPA) for the WIFIA program through two appropriations acts: P.L. 114-254 provided $20 million to EPA to begin the financing selection process (including $3 million for administrative purposes); P.L. 115-31 provided an additional $8 million to EPA to apply toward loan subsidy costs plus $2 million for administrative expenses. The combined FY2017 appropriation for subsidy costs ($25 million) allowed the agency to invite 12 entities across the country to apply for loans totaling $2.3 billion that support a variety of water infrastructure projects. \nFor FY2018, the Consolidated Appropriations Act, 2018 (P.L. 115-141), provided $63 million for the WIFIA program (including $8 million for administrative costs). EPA announced a second round of WIFIA funding on April 4, 2018. EPA estimated that its budget authority ($55 million) would provide approximately $5.5 billion in credit assistance.\nAlthough Congress has provided funds to EPA to implement WIFIA, as of the date of this report, Congress has not yet appropriated funds (nor have any been requested) that would enable the U.S. Army Corps of Engineers to prepare for making WIFIA loans under the authority in WRRDA 2014.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R43315", "sha1": "1be8dcf7a8496907fb9a4a742271a9b079d8dfaa", "filename": "files/20180423_R43315_1be8dcf7a8496907fb9a4a742271a9b079d8dfaa.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R43315", "sha1": "a2fa1235f9512fbfc8b285cd9acbec36bc3e1064", "filename": "files/20180423_R43315_a2fa1235f9512fbfc8b285cd9acbec36bc3e1064.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4909, "name": "Water Resource Management" }, { "source": "IBCList", "id": 4929, "name": "Water Quality" } ] }, { "source": "EveryCRSReport.com", "id": 462500, "date": "2017-07-07", "retrieved": "2017-08-22T13:59:51.135854", "title": "Water Infrastructure Financing: The Water Infrastructure Finance and Innovation Act (WIFIA) Program", "summary": "In recent years, policymakers have considered several legislative options to help finance water infrastructure projects, including projects to build and upgrade wastewater and drinking water treatment systems. This report examines one particular option, a \u201cWater Infrastructure Finance and Innovation Act\u201d (WIFIA) program, which Congress included in the Water Resources Reform and Development Act of 2014 (WRRDA, P.L. 113-121).\nThe WIFIA concept is modeled after a similar program that assists transportation projects, the Transportation Infrastructure Finance and Innovation Act (TIFIA) program. Proponents of the WIFIA approach, including water utility organizations, cite several potential benefits:\nWIFIA could provide credit assistance to large water infrastructure projects that otherwise have difficulty obtaining financing.\nWIFIA would access funds from the U.S. Treasury at Treasury rates, thus lowering the cost of capital for borrowers.\nWIFIA assistance would have much less of a federal budgetary effect than conventional project grants that are not repaid, because only the subsidy cost of a loan (representing the presumed default rate on loans) would be scored. Thus, if only an average 10% subsidy cost is charged against budget authority, a $20 million budgetary allocation theoretically supports $200 million in loans.\nTo be eligible for assistance, projects must be determined to be creditworthy with a revenue stream for repayment, thus limiting the federal government\u2019s exposure to default and also encouraging private capital investment.\nOn the other hand, opponents of the WIFIA approach, including organizations that represent state environmental agency officials, have cited several concerns:\nUnder WIFIA, decisionmaking for financing of water infrastructure projects shifts from the state and local level to federal officials.\nFederal funding for a WIFIA program could have a detrimental effect on federal support for established and successful State Revolving Fund (SRF) programs that provide the largest source of water infrastructure assistance today.\nWhile WIFIA is intended to assist large and costly projects, the majority of water infrastructure needs are for smaller projects. If WIFIA funding resulted in a decrease in SRF assistance, these smaller projects would face significant financing challenges.\nThe Congressional Budget Office has warned that the costs of a WIFIA program to the federal budget may be underestimated.\nIn the Further Continuing and Security Assistance Appropriations Act, 2017 (P.L. 114-254) in December 2016, Congress appropriated $20 million to EPA to begin making loans and allows the agency to use up to $3 million of the total for administrative purposes. The Consolidated and Further Continuing Appropriations Act, 2017, signed by President Trump on May 5, 2017 (P.L. 115-31), provided an additional $8 million for EPA to apply toward loan subsidy costs and an additional $2 million for EPA\u2019s administrative expenses. \nEPA expects to issue its first WIFIA loans in 2017. The agency stated that the combined appropriation for subsidy costs ($25 million) will allow the agency to lend approximately $1.5 billion for water infrastructure projects.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R43315", "sha1": "71246945e63bfe7e40f7567ee254f622bc94254d", "filename": "files/20170707_R43315_71246945e63bfe7e40f7567ee254f622bc94254d.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R43315", "sha1": "1f8c1deb41ca3179a718f8c85158d7c0e69cce89", "filename": "files/20170707_R43315_1f8c1deb41ca3179a718f8c85158d7c0e69cce89.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4909, "name": "Water Resource Management" }, { "source": "IBCList", "id": 4929, "name": "Water Quality" } ] }, { "source": "EveryCRSReport.com", "id": 460270, "date": "2017-04-05", "retrieved": "2017-04-07T15:31:10.267161", "title": "Water Infrastructure Financing: The Water Infrastructure Finance and Innovation Act (WIFIA) Program", "summary": "In recent years, policymakers have considered several legislative options to help finance water infrastructure projects, including projects to build and upgrade wastewater and drinking water treatment systems. This report examines one particular option, a \u201cWater Infrastructure Finance and Innovation Act\u201d (WIFIA) program, which Congress included in the Water Resources Reform and Development Act of 2014 (WRRDA, P.L. 113-121).\nThe WIFIA concept is modeled after a similar program that assists transportation projects, the Transportation Infrastructure Finance and Innovation Act (TIFIA) program. Proponents of the WIFIA approach, including water utility organizations, cite several potential benefits:\nWIFIA could provide credit assistance to large water infrastructure projects that otherwise have difficulty obtaining financing.\nWIFIA would access funds from the U.S. Treasury at Treasury rates, thus lowering the cost of capital for borrowers.\nWIFIA assistance would have much less of a federal budgetary effect than conventional project grants that are not repaid, because only the subsidy cost of a loan (representing the presumed default rate on loans) would be scored. Thus, if only an average 10% subsidy cost is charged against budget authority, a $20 million budgetary allocation theoretically supports $200 million in loans.\nTo be eligible for assistance, projects must be determined to be creditworthy with a revenue stream for repayment, thus limiting the federal government\u2019s exposure to default and also encouraging private capital investment.\nOn the other hand, opponents of the WIFIA approach, including organizations that represent state environmental agency officials, have cited several concerns:\nUnder WIFIA, decisionmaking for financing of water infrastructure projects shifts from the state and local level to federal officials.\nFederal funding for a WIFIA program could have a detrimental effect on federal support for established and successful State Revolving Fund (SRF) programs that provide the largest source of water infrastructure assistance today.\nWhile WIFIA is intended to assist large and costly projects, the majority of water infrastructure needs are for smaller projects. If WIFIA funding resulted in a decrease in SRF assistance, these smaller projects would face significant financing challenges.\nThe Congressional Budget Office has warned that the costs of a WIFIA program to the federal budget may be underestimated.\nFor each of FY2015 and FY2016, Congress appropriated $2.2 million for EPA to design and stand up the WIFIA program. In the Further Continuing and Security Assistance Appropriations Act, 2017 (P.L. 114-254) in December 2016, Congress appropriated the first funds to cover the subsidy cost of the program. Using the $20 million in that act, the Environmental Protection Agency (EPA) expects to issue its first WIFIA loans in 2017.\nWIFIA has also been considered as a model for other infrastructure financing programs. Several bills in the 114th Congress proposed to establish a WIFIA-type program for water reclamation and reuse projects in western states. None of these proposals, which were included in S. 176/H.R. 291, S. 1837, S. 1894, S. 2533/H.R. 5247, and H.R. 6022, were enacted.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R43315", "sha1": "47338e7b3e2bd0865b925803bdcff41fad5bf4e7", "filename": "files/20170405_R43315_47338e7b3e2bd0865b925803bdcff41fad5bf4e7.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R43315", "sha1": "e6a527a95e6509b4a0fa644ec21eb3ac58d4937a", "filename": "files/20170405_R43315_e6a527a95e6509b4a0fa644ec21eb3ac58d4937a.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 4909, "name": "Water Resource Management" }, { "source": "IBCList", "id": 4929, "name": "Water Quality" } ] }, { "source": "EveryCRSReport.com", "id": 457894, "date": "2016-12-27", "retrieved": "2017-01-03T22:37:46.044057", "title": "Water Infrastructure Financing: The Water Infrastructure Finance and Innovation Act (WIFIA) Program", "summary": "Policymakers have recently been considering several legislative options to help finance water infrastructure projects, including projects to build and upgrade wastewater and drinking water treatment systems. This report examines one particular option, a \u201cWater Infrastructure Finance and Innovation Act\u201d (WIFIA) program, which Congress included in the Water Resources Reform and Development Act of 2014 (WRRDA, P.L. 113-121).\nThe WIFIA concept is modeled after a similar program that assists transportation projects, the Transportation Infrastructure Finance and Innovation Act (TIFIA) program. Proponents of the WIFIA approach, including water utility organizations, cite several potential benefits:\nWIFIA could provide credit assistance to large water infrastructure projects that otherwise have difficulty obtaining financing.\nBecause WIFIA would access funds from the U.S. Treasury at Treasury rates, the mechanism could lower the cost of capital for borrowers.\nWIFIA assistance would have much less of a federal budgetary effect than conventional project grants that are not repaid, because only the subsidy cost of a loan (representing the presumed default rate on loans) would be scored. Thus, if only an average 10% subsidy cost is charged against budget authority, a $20 million budgetary allocation theoretically supports $200 million in loans.\nTo be eligible for assistance, projects must be determined to be creditworthy with a revenue stream for repayment, thus limiting the federal government\u2019s exposure to default and also encouraging private capital investment.\nOn the other hand, opponents of the WIFIA approach, including organizations that represent state environmental agency officials, have cited several concerns:\nUnder WIFIA, decisionmaking for financing of water infrastructure projects shifts from the state and local level to federal officials.\nFederal funding for a WIFIA program could have a detrimental effect on federal support for established and successful State Revolving Fund (SRF) programs that provide the largest source of water infrastructure assistance today.\nWhile WIFIA is intended to assist large and costly projects, the majority of water infrastructure needs are for smaller projects. Especially if SRF assistance is decreased, these smaller projects would face significant financing challenges.\nThe Congressional Budget Office has warned that the costs of a WIFIA program to the federal budget may be underestimated.\nImplementation of WIFIA was delayed until Congress appropriated funds to cover the subsidy cost of the program, which occurred in the Further Continuing and Security Assistance Appropriations Act, 2017 (P.L. 114-254) in December 2016. Using the $20 million in that act, the Environmental Protection Agency (EPA) expects to issue its first WIFIA loans in 2017.\nInterest in using WIFIA as a model for other infrastructure financing programs is apparent. Several bills in the 114th Congress proposed to establish a WIFIA-type program for water reclamation and reuse projects in western states. None of these proposals, which were included in S. 176/H.R. 291, S. 1837, S. 1894, S. 2533/H.R. 5247, and H.R. 6022, were enacted.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R43315", "sha1": "cbb097c400349b802928a498464f4e54fbc0dc07", "filename": "files/20161227_R43315_cbb097c400349b802928a498464f4e54fbc0dc07.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R43315", "sha1": "785fabc5f902e09e40a82a26667b00494af8ea29", "filename": "files/20161227_R43315_785fabc5f902e09e40a82a26667b00494af8ea29.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 4909, "name": "Water Resource Management" }, { "source": "IBCList", "id": 4929, "name": "Water Quality" } ] }, { "source": "EveryCRSReport.com", "id": 456067, "date": "2016-09-22", "retrieved": "2016-10-17T19:25:05.072021", "title": "Water Infrastructure Financing: The Water Infrastructure Finance and Innovation Act (WIFIA) Program", "summary": "Policymakers have recently been considering several legislative options to help finance water infrastructure projects, including projects to build and upgrade wastewater and drinking water treatment systems. This report examines one particular option, a \u201cWater Infrastructure Finance and Innovation Act\u201d (WIFIA) program, which Congress included in the Water Resources Reform and Development Act of 2014 (WRRDA). As enacted (P.L. 113-121), the legislation created a WIFIA pilot program based on provisions in Senate-passed S. 601.\nThe WIFIA concept is modeled after a similar program that assists transportation projects, the Transportation Infrastructure Finance and Innovation Act (TIFIA) program. Proponents of the WIFIA approach, including water utility organizations, cite several potential benefits:\nWIFIA could provide credit assistance to large water infrastructure projects that otherwise have difficulty obtaining financing.\nBecause WIFIA would access funds from the U.S. Treasury at Treasury rates, the mechanism could lower the cost of capital for borrowers.\nWIFIA assistance would have much less of a federal budgetary effect than conventional project grants that are not repaid, because only the subsidy cost of a loan (representing the presumed default rate on loans) would be scored. Thus, if only an average 10% subsidy cost is charged against budget authority, a $20 million budgetary allocation theoretically supports $200 million in loans.\nTo be eligible for assistance, projects must be determined to be creditworthy with a revenue stream for repayment, thus limiting the federal government\u2019s exposure to default and also encouraging private capital investment.\nOn the other hand, opponents of the WIFIA approach, including organizations that represent state environmental agency officials, cite several concerns:\nUnder WIFIA, decisionmaking for financing of water infrastructure projects would shift from the state and local level to federal officials.\nFederal funding for a WIFIA program would likely have a detrimental effect on federal support for established and successful State Revolving Fund (SRF) programs that provide the largest source of water infrastructure assistance today.\nWhile WIFIA is intended to assist large and costly projects, the majority of water infrastructure needs are for smaller projects. Especially if SRF assistance is decreased, these smaller projects would face significant financing challenges.\nThe Congressional Budget Office has warned that the costs of a WIFIA program to the federal budget may be underestimated.\nImplementation of WIFIA will not occur until Congress appropriates funds to cover the subsidy cost of the program, which has not yet happened, but the President\u2019s FY2017 budget requested $15 million for the Environmental Protection Agency (EPA) to begin making loans. EPA funding bills (H.R. 5538 and S. 3068) include $45 million and $25 million, respectively, for initial loans. EPA expects to issue its first WIFIA loans in FY2017.\nAlthough WIFIA has not yet been implemented, interest in using it as a model for other infrastructure financing programs is apparent. Several legislative proposals in the 114th Congress would establish a WIFIA-type program for water reclamation and reuse projects in western states. These proposals are included in S. 176/H.R. 291, S. 1837, S. 1894, S. 2533/H.R. 5247, and H.R. 6022.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R43315", "sha1": "7fdb1d679bf9fa423498337792850145747dccc8", "filename": "files/20160922_R43315_7fdb1d679bf9fa423498337792850145747dccc8.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R43315", "sha1": "8eea90d09d9e04d552503f4372f53cc5d0424ddc", "filename": "files/20160922_R43315_8eea90d09d9e04d552503f4372f53cc5d0424ddc.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 4909, "name": "Water Resource Management" }, { "source": "IBCList", "id": 4929, "name": "Water Quality" } ] }, { "source": "EveryCRSReport.com", "id": 455146, "date": "2016-08-16", "retrieved": "2016-09-09T18:40:20.827717", "title": "Water Infrastructure Financing: The Water Infrastructure Finance and Innovation Act (WIFIA) Program", "summary": "Policymakers have recently been considering several legislative options to help finance water infrastructure projects, including projects to build and upgrade wastewater and drinking water treatment systems. This report examines one particular option, a \u201cWater Infrastructure Finance and Innovation Act\u201d (WIFIA) program, which Congress included in the Water Resources Reform and Development Act of 2014 (WRRDA). As enacted (P.L. 113-121), the legislation created a WIFIA pilot program based on provisions in Senate-passed S. 601.\nThe WIFIA concept is modeled after a similar program that assists transportation projects, the Transportation Infrastructure Finance and Innovation Act (TIFIA) program. Proponents of the WIFIA approach, including water utility organizations, cite several potential benefits:\nWIFIA could provide credit assistance to large water infrastructure projects that otherwise have difficulty obtaining financing.\nBecause WIFIA would access funds from the U.S. Treasury at Treasury rates, the mechanism could lower the cost of capital for borrowers.\nWIFIA assistance would have much less of a federal budgetary effect than conventional project grants that are not repaid, because only the subsidy cost of a loan (representing the presumed default rate on loans) would be scored. Thus, if only an average 10% subsidy cost is charged against budget authority, a $20 million budgetary allocation theoretically supports $200 million in loans.\nTo be eligible for assistance, projects must be determined to be creditworthy with a revenue stream for repayment, thus limiting the federal government\u2019s exposure to default and also encouraging private capital investment.\nOn the other hand, opponents of the WIFIA approach, including organizations that represent state environmental agency officials, cite several concerns:\nUnder WIFIA, decisionmaking for financing of water infrastructure projects would shift from the state and local level to federal officials.\nFederal funding for a WIFIA program would likely have a detrimental effect on federal support for established and successful State Revolving Fund (SRF) programs that provide the largest source of water infrastructure assistance today.\nWhile WIFIA is intended to assist large and costly projects, the majority of water infrastructure needs are for smaller projects. Especially if SRF assistance is decreased, these smaller projects would face significant financing challenges.\nThe Congressional Budget Office has warned that the costs of a WIFIA program to the federal budget may be underestimated.\nImplementation of WIFIA will not occur until Congress appropriates funds to cover the subsidy cost of the program, which has not yet happened, but the President\u2019s FY2017 budget requested $15 million for the Environmental Protection Agency (EPA) to begin making loans. EPA funding bills (H.R. 5538 and S. 3068) include $45 million and $25 million, respectively, for initial loans. EPA expects to issue its first WIFIA loans in FY2017.\nAlthough WIFIA has not yet been implemented, interest in using it as a model for other infrastructure financing programs is apparent. Several legislative proposals in the 114th Congress would establish a WIFIA-type program for water reclamation and reuse projects in western states. These proposals, referred to as \u201cReclamation for WIFIA,\u201d or RIFIA, are included in S. 176/H.R. 291 (the Water in the 21st Century Act), S. 1894 (the California Emergency Drought Relief Act of 2015), and S. 2533/H.R. 5247 (California Long-Term Provisions for Water Supply and Short-Term Provisions for Emergency Drought Relief Act).", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R43315", "sha1": "8d501399e79f1789e4fa3b8eca11dbac7154ba6f", "filename": "files/20160816_R43315_8d501399e79f1789e4fa3b8eca11dbac7154ba6f.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R43315", "sha1": "ab03632906d3b1d0a1d530cd63ce54cce5ba3540", "filename": "files/20160816_R43315_ab03632906d3b1d0a1d530cd63ce54cce5ba3540.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 318, "name": "Water Resources Management and Development" } ] }, { "source": "EveryCRSReport.com", "id": 453437, "date": "2016-06-03", "retrieved": "2016-06-21T21:08:49.643819", "title": "Water Infrastructure Financing: The Water Infrastructure Finance and Innovation Act (WIFIA) Program", "summary": "Policymakers have recently been considering several legislative options to help finance water infrastructure projects, including projects to build and upgrade wastewater and drinking water treatment systems. This report examines one particular option, a \u201cWater Infrastructure Finance and Innovation Act\u201d (WIFIA) program, which Congress included in the Water Resources Reform and Development Act of 2014 (WRRDA). As enacted (P.L. 113-121), the legislation created a WIFIA pilot program based on provisions in Senate-passed S. 601.\nThe WIFIA concept is modeled after a similar program that assists transportation projects, the Transportation Infrastructure Finance and Innovation Act (TIFIA) program. Proponents of the WIFIA approach, including water utility organizations, cite several potential benefits:\nWIFIA could provide credit assistance to large water infrastructure projects that otherwise have difficulty obtaining financing.\nBecause WIFIA would access funds from the U.S. Treasury at Treasury rates, the mechanism could lower the cost of capital for borrowers.\nWIFIA assistance would have much less of a federal budgetary effect than conventional project grants that are not repaid, because only the subsidy cost of a loan (representing the presumed default rate on loans) would be scored. Thus, if only an average 10% subsidy cost is charged against budget authority, a $20 million budgetary allocation theoretically supports $200 million in loans.\nTo be eligible for assistance, projects must be determined to be creditworthy with a revenue stream for repayment, thus limiting the federal government\u2019s exposure to default and also encouraging private capital investment.\nOn the other hand, opponents of the WIFIA approach, including organizations that represent state environmental agency officials, cite several concerns:\nUnder WIFIA, decisionmaking for financing of water infrastructure projects would shift from the state and local level to federal officials.\nFederal funding for a WIFIA program would likely have a detrimental effect on federal support for established and successful State Revolving Fund (SRF) programs that provide the largest source of water infrastructure assistance today.\nWhile WIFIA is intended to assist large and costly projects, the majority of water infrastructure needs are for smaller projects. Especially if SRF assistance is decreased, these smaller projects would face significant financing challenges.\nThe Congressional Budget Office has warned that the costs of a WIFIA program to the federal budget may be underestimated.\nImplementation of WIFIA will not occur until Congress appropriates funds to cover the subsidy cost of the program, which has not yet happened, but the President\u2019s FY2017 budget requests $15 million for EPA to begin making loans. Funding uncertainty is one of several implementation challenges that have been identified. \nAlthough WIFIA has not yet been implemented, interest in using it as a model for other infrastructure financing programs is apparent. Several legislative proposals in the 114th Congress would establish a WIFIA-type program for water reclamation and reuse projects in western states. These proposals, referred to as \u201cReclamation for WIFIA,\u201d or RIFIA, are included in S. 176/H.R. 291 (the Water in the 21st Century Act), S. 1894 (the California Emergency Drought Relief Act of 2015), and S. 2533/H.R. 5247 (California Long-Term Provisions for Water Supply and Short-Term Provisions for Emergency Drought Relief Act).", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R43315", "sha1": "ab6cb7ff0a7ea35bb1de0b4f291dd13894e19364", "filename": "files/20160603_R43315_ab6cb7ff0a7ea35bb1de0b4f291dd13894e19364.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R43315", "sha1": "d055448b802eafc44aa03941a45f724b6876987c", "filename": "files/20160603_R43315_d055448b802eafc44aa03941a45f724b6876987c.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 318, "name": "Water Resources Management and Development" } ] }, { "source": "EveryCRSReport.com", "id": 450044, "date": "2016-02-22", "retrieved": "2016-04-06T17:06:22.660123", "title": "Water Infrastructure Financing: The Water Infrastructure Finance and Innovation Act (WIFIA) Program", "summary": "Policymakers have recently been considering several legislative options to help finance water infrastructure projects, including projects to build and upgrade wastewater and drinking water treatment systems. This report examines one particular option, a \u201cWater Infrastructure Finance and Innovation Act\u201d (WIFIA) program, which Congress included in the Water Resources Reform and Development Act of 2014 (WRRDA). As enacted (P.L. 113-121), the legislation created a WIFIA pilot program based on provisions in Senate-passed S. 601 with some additions and modifications. H.R. 3080 as passed by the House did not include similar provisions.\nThe WIFIA concept is modeled after a similar program that assists transportation projects, the Transportation Infrastructure Finance and Innovation Act (TIFIA) program. Proponents of the WIFIA approach, including water utility organizations, cite several potential benefits:\nWIFIA could provide credit assistance to large water infrastructure projects that otherwise have difficulty obtaining financing.\nBecause WIFIA would access funds from the U.S. Treasury at Treasury rates, the mechanism could lower the cost of capital for borrowers.\nWIFIA assistance would have much less of a federal budgetary effect than conventional project grants that are not repaid, because only the subsidy cost of a loan (representing the presumed default rate on loans) would be scored. Thus, if only an average 10% subsidy cost is charged against budget authority, a $20 million budgetary allocation theoretically supports $200 million in loans.\nTo be eligible for assistance, projects must be determined to be creditworthy with a revenue stream for repayment, thus limiting the federal government\u2019s exposure to default and also encouraging private capital investment.\nOn the other hand, opponents of the WIFIA approach, including organizations that represent state environmental agency officials, cite several concerns:\nUnder WIFIA, decisionmaking for financing of water infrastructure projects would shift from the state and local level to federal officials.\nFunding for a WIFIA program would likely have a detrimental effect on federal support for established and successful State Revolving Fund (SRF) programs that provide the largest source of water infrastructure assistance today.\nWhile WIFIA is intended to assist large and costly projects, the majority of water infrastructure needs are for smaller projects. Especially if SRF assistance is decreased, these smaller projects would face significant financing challenges.\nThe Congressional Budget Office has warned that the costs of a WIFIA program to the federal budget may be underestimated.\nImplementation of WIFIA will not occur until Congress appropriates funds to cover the subsidy cost of the program, which has not yet happened, but the President\u2019s FY2017 budget requests $15 million for EPA to begin making loans. Funding uncertainty is one of several implementation challenges that have been identified. \nAlthough the WIFIA pilot program has not yet been implemented, interest in using it as a model for other infrastructure financing programs is apparent. For example, several legislative proposals in the 114th Congress would establish a WIFIA-type program for water reclamation and reuse projects in western states. These proposals, referred to as \u201cReclamation for WIFIA,\u201d or RIFIA, are included in S. 176/H.R. 291 (the Water in the 21st Century Act), S. 1894 (the California Emergency Drought Relief Act of 2015), and S. 2533 (California Long-Term Provisions for Water Supply and Short-Term Provisions for Emergency Drought Relief Act).", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R43315", "sha1": "b471f93fb818ca2cc2b30a903af34c945c47a12c", "filename": "files/20160222_R43315_b471f93fb818ca2cc2b30a903af34c945c47a12c.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R43315", "sha1": "908b77282b15251277371678c142d3bdd39ac6cf", "filename": "files/20160222_R43315_908b77282b15251277371678c142d3bdd39ac6cf.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 318, "name": "Water Resources Management and Development" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc824420/", "id": "R43315_2016Feb09", "date": "2016-02-09", "retrieved": "2016-04-04T14:48:17", "title": "Water Infrastructure Financing: The Water Infrastructure Finance and Innovation Act (WIFIA) Program", "summary": "This report examines \"Water Infrastructure Finance and Innovation Act\" (WIFIA), which details a program that would provide a way to help finance water infrastructure projects. This program was included in the Water Resources Reform and Development Act of 2014 (WRRDA, P.L. 113-121). A five-year WIFIA pilot program was outlined in Title V, Subtitle C, of the legislation.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20160209_R43315_be6b4e186459e17219d4c387cd80d7243ac75cb6.pdf" }, { "format": "HTML", "filename": "files/20160209_R43315_be6b4e186459e17219d4c387cd80d7243ac75cb6.html" } ], "topics": [ { "source": "LIV", "id": "Water Law and legislation", "name": "Water Law and legislation" }, { "source": "LIV", "id": "Water allocation (Policy)", "name": "Water allocation (Policy)" }, { "source": "LIV", "id": "Water resources development", "name": "Water resources development" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc820450/", "id": "R43315_2015Apr09", "date": "2015-04-09", "retrieved": "2016-03-19T13:57:26", "title": "Water Infrastructure Financing: The Water Infrastructure Finance and Innovation Act (WIFIA) Program", "summary": null, "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20150409_R43315_9d617f7319e88e11a29d3e714cb60f1086e57414.pdf" }, { "format": "HTML", "filename": "files/20150409_R43315_9d617f7319e88e11a29d3e714cb60f1086e57414.html" } ], "topics": [] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc491030/", "id": "R43315_2014Oct23", "date": "2014-10-23", "retrieved": "2015-01-27T19:40:46", "title": "Water Infrastructure Financing: The Water Infrastructure Finance and Innovation Act (WIFIA) Program", "summary": "Policy makers have recently been considering several legislative options to help finance water infrastructure projects, including projects to build and upgrade wastewater and drinking water treatment systems. This report examines one particular option, a \"Water Infrastructure Finance and Innovation Act,\" or WIFIA, program, which Congress included in the Water Resources Reform and Development Act of 2014 (WRRDA). As enacted (P.L. 113-121), the legislation creates a WIFIA pilot program based on provisions in Senate-passed S. 601 with some additions and modifications.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20141023_R43315_58ce1ffde28c2a005bb40054629bed6bee0b351d.pdf" }, { "format": "HTML", "filename": "files/20141023_R43315_58ce1ffde28c2a005bb40054629bed6bee0b351d.html" } ], "topics": [ { "source": "LIV", "id": "Water law and legislation", "name": "Water law and legislation" }, { "source": "LIV", "id": "Water allocation (Policy)", "name": "Water allocation (Policy)" }, { "source": "LIV", "id": "Water resources development", "name": "Water resources development" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc306486/", "id": "R43315_2014May16", "date": "2014-05-16", "retrieved": "2014-07-08T21:53:44", "title": "Water Infrastructure Financing: Proposals to Create a Water Infrastructure Finance and Innovation Act (WIFIA) Program", "summary": "This report discusses the \"Water Infrastructure Finance and Innovation Act,\" or WIFIA, program, which is one legislative option to finance water infrastructure projects.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20140516_R43315_700aef3c083bdb6257f7facd4f9f256d34f01215.pdf" }, { "format": "HTML", "filename": "files/20140516_R43315_700aef3c083bdb6257f7facd4f9f256d34f01215.html" } ], "topics": [ { "source": "LIV", "id": "Water law and legislation", "name": "Water law and legislation" }, { "source": "LIV", "id": "Water allocation (Policy)", "name": "Water allocation (Policy)" }, { "source": "LIV", "id": "Water resources development", "name": "Water resources development" } ] } ], "topics": [ "Appropriations", "Economic Policy", "Environmental Policy" ] }