Curbelo Introduces WIFIA Improvement Act
Today, Rep. Carlos Curbelo (FL-26) introduced H.R. 3756, the WIFIA Improvement Act. This legislation will promote much needed investment in water infrastructure projects by making a simple fix to the Water Infrastructure Finance and Innovation Act (WIFIA) program. Rep. Curbelo offered the following statement:
“WIFIA is an innovative pilot program that was created in the Water Resources Reform and Development Act of 2014. Similar to other successful transportation programs that connect different funding sources, WIFIA would leverage a small amount of federal funds to enable large, job-creating, water infrastructure projects. While WIFIA can finance up to 49% of eligible projects, a current limitation prevents these loans from being combined with tax-exempt bonds, resulting in the program's operation being severely impaired. This prohibition undermines WIFIA as a tool to advance water infrastructure projects. By repealing the limitation on tax-exempt bonds, critical improvements to our nation’s drinking water and wastewater systems can be made.
Making this common sense fix to the WIFIA program will encourage investment and create jobs in South Florida. Americans need innovative, low cost solutions to meet the great demands placed on large water infrastructure systems, and this bill is an excellent start.”
To view legislative text of the bill, please click the here.