Introduction of Clean Water Srf Parity Act

Floor Speech

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Mr. GARAMENDI. Mr. Speaker, today I reintroduce the ``Clean Water SRF Parity Act,'' with Congressman Mike Bost (R-IL).

This legislation would make nonprofit cooperatives and publicly regulated utilities operating wastewater treatment plants eligible under the Clean Water Act's State Revolving (Loan) Funds. These same entities are already eligible under the Safe Drinking Water Act's State Revolving (Loan) Funds and, by extension, the U.S. Environmental Protection Agency's Water Infrastructure Finance and Innovation Act (WIFIA) revolving loan fund.

For 2022, California's State Water Resources Control Board awarded $2.7 billion for drinking water and wastewater treatment projects. According to most recent Clean Watersheds Needs Survey, California needs an estimated $26.2 billion in federal, state, and local investment for wastewater treatment, wastewater recycling, and stormwater pollution prevention infrastructure over the next 20 years. This includes an estimated $24.4 billion needed to modernize aging water infrastructure across the state.

Under the federal Clean Water Act, each state capitalizes its own State Revolving (Loan) Fund to provide public financing and grants for wastewater, water reuse, stormwater, and surface water pollution reduction projects to keep our nation's waterways clean. Since this public financing is paid back with interest to help recapitalize each State's State Revolving (Loan) Funds, there is no net cost to American taxpayers.

Our bill restricts eligibility for publicly regulated utilities to the amounts greater than the $1,638,826,000 appropriated for the Clean Water State Revolving Fund program in fiscal years 2020 and 2021. That way, we ensure that this new eligibility for nonprofit cooperatives and publicly regulated utilities does not come at the cost of municipally owned utilities and public projects under the program.

As a senior member of the House Committee on Transportation and Infrastructure, which authorizes all Clean Water Act programs, I strongly support increased federal funding for the State Revolving Fund program. The Infrastructure Investment and Jobs Act (Public Law 117- 58), of which I am an original cosponsor, provided more than $11.7 billion in new federal funding for the Clean Water State Revolving Funds nationwide.

With enactment of the ``Clean Water SRF Parity Act,'' I expect the National Association of Water Companies, Council of Infrastructure Financing Authorities, Utility Workers Union of America (AFL-CIO), and American Public Works Association to advocate for increased federal funding for the Clean Water State Revolving Funds each year.

Mr. Speaker, I encourage all Members of the House to cosponsor this bipartisan, noncontroversial bill.

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