BOARD AGENDA MEMORANDUM
SUBJECT:Title
Approve Recommended Positions on Federal Legislation: H.R. 3023 (Costa) - Restoring WIFIA Eligibility Act; H.R. 8127 (Schrier) - Water Infrastructure Finance and Innovation Act Amendments; and Other Legislation That May Require Urgent Consideration for a Position by the Board.
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RECOMMENDATION:Recommendation
A. Adopt a position of "Support" on H.R. 3023 (Costa) - Restoring WIFIA Eligibility Act; and
B. Adopt a position of "Support if Amended" on H.R. 8127 (Schrier) - Water Infrastructure Finance and Innovation Act Amendments.
Body
SUMMARY:
A. H.R. 3023 (Costa) - Restoring WIFIA Eligibility Act
Recommendation: Support
Priority Recommendation: 2
This bill would amend the Water Infrastructure Finance and Innovation Act (WIFIA) to ensure that facilities owned by the federal government but operated and managed by non-federal entities can access WIFIA loans. This is particularly important for facilities such as the C.W. "Bill" Jones Pumping plant, which is owned by the Bureau of Reclamation but operated by the San Luis and Delta-Mendota Water Authority, and is in need of rehabilitation. Under current law, federally owned facilities like the Jones Pumping Plant cannot be financed by WIFIA loans due to the budgetary treatment of these projects.
Status:
The bill was introduced in the House on May 17, 2022, and was referred to the Committee on Transportation and Infrastructure, as well as the Committee on Energy and Commerce.
Importance to Valley Water:
Under the WIFIA Program, which is administered by the Environmental Protection Agency, the federal government provides low-interest, long-term loans for certain eligible water infrastructure projects. The subsidy cost of the WIFIA program accounts for potential losses to the government in the case of loan default. The White House Office of Management and Budget (OMB) determines the program's subsidy cost, or subsidy rate, which then determines how much credit assistance t...
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