Water Infrastructure Finance and Innovation Program Account

Water Infrastructure Finance and Innovation Program Account For the cost of direct loans and for the cost of guaranteed loans, as authorized by the Water Infrastructure Finance and Innovation Act of 2014, $55,000,000, to remain available until expended: Provided, That such costs, including the cost of modifying such loans, shall be as defined in section 502 of the Congressional Budget Act of 1974: Provided further, That these funds are available to subsidize gross obligations for the principal amount of direct loans, including capitalized interest, and total loan principal, including capitalized interest, any part of which is to be guaranteed, not to exceed $11,500,000,000: Provided further, That of the funds made available under this heading, $5,000,000 shall be used solely for the cost of direct loans and for the cost of guaranteed loans for projects described in section 5026(9) of the Water Infrastructure Finance and Innovation Act of 2014 to State infrastructure financing authorities, as authorized by section 5033(e) of such Act: Provided further, That the Administrator, together with the Director of the Office of Management and Budget and the Secretary of the Treasury, shall jointly develop criteria for project eligibility for direct loans and loan guarantees authorized by the Water Infrastructure Finance and Innovation Act of 2014 that limit Federal participation in a project consistent with the requirements for the budgetary treatment provided for in section 504 of the Federal Credit Reform Act of 1990 and based on the recommendations contained in the 1967 Report of the President’s Commission on Budget Concepts; and the Administrator, the Director, and the Secretary, shall, not later than 120 days after the date of enactment of this Act, publish such criteria in the Federal Register: Provided further, That, in developing the criteria to be used, the Administrator, the Director, and the Secretary, shall consult with the Director of the Congressional Budget Office: Provided further, That the requirements of section 553 of title 5, United States Code, shall not apply to the development and publication of such criteria: Provided further, That the use of direct loans or loan guarantee authority under this heading for direct loans or commitments to guarantee loans for any project shall be in accordance with the criteria published pursuant to this Act: Provided further, That the Administrator, the Director, and the Secretary, shall also certify, and publish such certification in the Federal Register, that the criteria is compliant with this paragraph, at the same time the Administrator, the Director, and the Secretary, publish the criteria in the Federal Register: Provided further, That the Administrator may not issue a Notice of Funding Availability for applications for credit assistance under the Water Infrastructure Finance and Innovation Act Program in fiscal year 2020 until the criteria have been developed and published pursuant to the fourth proviso and certified pursuant to the previous proviso: Provided further, That none of the direct loans or loan guarantee authority made available under this heading shall be available for any project unless the Administrator and the Director of the Office of Management and Budget have certified in advance in writing that the direct loan or loan guarantee, as applicable, and the project comply with the criteria developed and published pursuant to this Act: Provided further, That the criteria developed and published pursuant to this Act shall not apply to the use of direct loans or loan guarantee authority provided by prior appropriations Acts: Provided further, That not later than 15 days after the date upon which criteria have been published pursuant to the fourth proviso, the Administrator shall report to the Committees on Appropriations of the House of Representatives and Senate, the Committees on Energy and Commerce and Transportation and Infrastructure of the House of Representatives, and the Committee on Environment and Public Works of the Senate on any statutory improvements to the Water Infrastructure Finance and Innovation Act of 2014 or to the Water Infrastructure Finance and Innovation Act Program Account’s appropriations language that would further align such Act and such language with the budgetary treatment and recommendations referred to in the fourth proviso: Provided further, That, for the purposes of carrying out the Congressional Budget Act of 1974, the Director of the Congressional Budget Office may request, and the Administrator shall promptly provide, documentation and information relating to a project identified in a Letter of Interest submitted to the Administrator pursuant to a Notice of Funding Availability for applications for credit assistance under the Water Infrastructure Finance and Innovation Act Program, including with respect to a project that was initiated or completed before the date of enactment of this Act.In addition, fees authorized to be collected pursuant to sections 5029 and 5030 of the Water Infrastructure Finance and Innovation Act of 2014 shall be deposited in this account, to remain available until expended.In addition, for administrative expenses to carry out the direct and guaranteed loan programs, notwithstanding section 5033 of the Water Infrastructure Finance and Innovation Act of 2014, $5,000,000, to remain available until September 30, 2021.