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What's New: Government Affairs

Proposed Bonding Amendments for the Federal Water Act Reauthorization

Wednesday, January 27, 2016  

One of SFAA’s priorities in Congress is to look for opportunities to require bonding in federal laws and programs that fund and/or finance state P3s. As the P3 issue has developed over the last two years, it is clear that there will be no federal P3 in the foreseeable future until the scoring rules change. Rather, the federal role will be in funding and financing state P3 projects. One opportunity will be in the reauthorization of the Water Resources and Development Act (WRDA) this spring. In 2014, Congress enacted legislation that created the Water Infrastructure Finance and Innovation Authority (WIFIA) to use federal funding to leverage state and local funding and private investment in providing loans and loan guarantees to get state projects completed. WIFIA is up for reauthorization under WRDA. The 2014 amendments to WRDA also authorize the use of up to 15 P3s in the new WIFIA pilot program. WIFIA requires that the 15 pilot projects must comply with all laws and regulations that the Secretary of the Army would have to follow if the Secretary were carrying out the project. SFAA is working with its members, AIA and NASBP to amend the WRDA reauthorization bill to include bonding requirements for P3s. 

Members should visit Government Relations / General Info (Members) for more information.

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