US Congress House Bill 434 (Prior Session Legislation)

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Spectrum: Moderate Partisan Bill (Republican 8-2)
Status: Introduced on January 11 2017 - 25% progression, died in committee
Action: 2017-02-07 - Referred to the Subcommittee on Water, Power and Oceans.
Pending: House Subcommittee on Water, Power and Oceans Committee
Text: Latest bill text (Introduced) [PDF]

To authorize a pilot project for an innovative water project financing program, and for other purposes. This bill authorizes the Department of the Interior, for 15 years after this bill's enactment, to provide financial assistance, such as secured loans or loan guarantees, to entities that contract under federal reclamation law to carry out water projects within the 17 western states served by the Bureau of Reclamation, other states where the Bureau is authorized to provide project assistance, Alaska, and Hawaii. Projects eligible for assistance include: non-federal water infrastructure projects that would contribute to a safe, adequate water supply for domestic, agricultural, environmental, or municipal and industrial use; projects for enhanced energy efficiency in the operation of a water system; projects for accelerated repair and replacement of aging water distribution facilities; brackish or sea water desalination projects; and the acquisition of real property or an interest therein for water storage, reclaimed or recycled water, or wastewater that is integral to such a project. To be eligible for assistance, a project must be deemed creditworthy. Eligible project costs must be reasonably anticipated to be at least $20 million. Interior shall establish criteria for project selection and may enter into a master credit agreement for projects secured by a common security pledge on terms acceptable to it. Interior may enter into agreements with obligors to make secured loans to finance or refinance eligible project costs or to refinance long-term project obligations or federal credit instruments to provide additional funding capacity for the completion, enhancement, or expansion of a project. The total amount of federal assistance for a project shall not exceed 80% of its total cost. Interior shall establish: (1) a repayment schedule for each secured loan based on the useful life of the project, and (2) a uniform system to service the federal credit instruments made available under this bill. Interior shall report biennially on the financial performance of the projects that receive assistance under this bill.

To authorize a pilot project for an innovative water project financing program, and for other purposes.

Rep. Jeff Denham [R-CA]	Rep. Doug LaMalfa [R-CA]	Rep. Dan Newhouse [R-WA]	Rep. Ken Calvert [R-CA]
Rep. Jim Costa [D-CA]	Rep. John Garamendi [D-CA]	Sen. Kevin Cramer [R-ND]	Rep. David Valadao [R-CA]
Rep. Stephen Knight [R-CA]	Rep. Tom Cole [R-OK]

Date	Chamber	Action
2017-02-07	House	Referred to the Subcommittee on Water, Power and Oceans.
2017-01-11	House	Referred to the House Committee on Natural Resources.
2017-01-11	House	Introduced in House

HB4287 (Related) 2017-11-10 - Referred to the Subcommittee on Communications and Technology.

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/434/all-info
Text	https://www.congress.gov/115/bills/hr434/BILLS-115hr434ih.pdf