FAYETTEVILLE, Ark. (KNWA) — Sen. John Boozman, R-Arkansas, along with three other senators, introduced a water infrastructure funding bill.
The bill is called the Securing Required Funding for Water Infrastructure Now Act, and it’ll seek to modernize investment in water infrastructure.
The legislation will work to:
- Authorize $200 million annually in federal loans over five years to support state revolving fund projects exclusively.
- Encourage states to bundle their projects by waiving the $100,000 application fee and streamlining the application process to a maximum 180-day turnaround.
- Simplify the federal approval process by allowing thousands of vetted drinking water and wastewater projects to receive funding, eliminating the need for the Environmental Protection Agency (EPA) to process thousands of additional loan applications.
- Preserve the successful state revolving funds (SRFs) and the Water Infrastructure and Innovation Act (WIFIA) loan program.
Boozman released the following statement on the bill:
“We have a more than $500 billion shortfall for water infrastructure funding in this country. This is a national emergency. Access to safe and clean water is critical to the livelihood of every American. This legislation is an innovative approach to helping communities of all sizes, in every state secure loans so they can improve their crumbling infrastructure.”
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