H.R. 132: Western Water Accelerated Revenue Repayment Act

This bill, known as the Western Water Accelerated Revenue Repayment Act, proposes amendments to the Water Infrastructure Improvements for the Nation Act (WIIN Act). Below is a summary of the key changes that the bill aims to implement:

Short Title

The bill may be cited as the "Western Water Accelerated Revenue Repayment Act".

Amendments to the WIIN Act

The bill includes specific amendments to existing sections of the WIIN Act, which primarily deal with water infrastructure financing and management.

1. Offsets and Water Storage Account

One of the main amendments involves the way certain funds are managed. The bill proposes to modify Section 4011(d)(2) of the WIIN Act to allow for the allocation of funds that are directed by project-specific statutes to be placed into accounts that are not the General Reclamation Fund. This change aims to provide greater flexibility in the management of funds related to water storage projects.

2. Extension of Prepayment Authority

Another significant amendment is related to the authority to prepay certain financial obligations. In Section 4013 of the WIIN Act, the bill proposes the following changes:

• The first paragraph will be updated to remove the phrase that currently ends the paragraph, allowing for a new structure.
• The second paragraph will also be amended to accommodate additional provisions.
• Finally, the bill will add that the authority for contracts mentioned in Section 4011 of the WIIN Act can be extended. This means that entities involved in water infrastructure financing may be granted more options regarding how they fulfill their financial commitments.

Through these amendments, the bill seeks to enhance the management and allocation of funds for water infrastructure projects, potentially improving efficiency in project financing and execution.

Relevant Companies

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