This bill would change the Water Infrastructure Finance and Innovation Act (WIFIA) rules so projects that get WIFIA help must have payment and performance security for construction. The Secretary or the Administrator must make sure covered projects have these securities. 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 can rely on that State or local requirement. If no 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 the bill's costs or budgetary effects in the bill text or metadata provided.
No publicly available information on supporters' statements in the bill text or metadata. The bill's title indicates it is intended to protect subcontractors and taxpayers by requiring payment and performance security for WIFIA-funded construction.
No publicly available information on opponents' statements in the bill text or metadata.