This bill amends the Water Infrastructure Finance and Innovation Act of 2014 (WIFIA). It adds a requirement that projects receiving WIFIA assistance must have payment and performance security for construction. If a State or local law already requires payment and performance security and that security equals at least 50 percent of the total construction contract amount, the Secretary or Administrator may treat that as meeting the new requirement. If no such State or local requirement applies or the amount is less than 50 percent, the Secretary or Administrator must require that the project meet the requirements described in paragraphs (1) and (2) of section 3131(b) of title 40, United States Code.
No publicly available information on costs, budgetary effects, or funding for implementing this change is included in the bill text or metadata provided.
No publicly available information on proponents' stated reasons or supporting statements is included in the bill text or metadata provided.
No publicly available information on opponents' stated concerns or opposition is included in the bill text or metadata provided.