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1 1 (November 21, 2024)

handle is hein.crs/goverjo0001 and id is 1 raw text is: Congressional Corps Water Infrastructure Financing Program (CWIFP) Updated November 21, 2024 The Water Infrastructure Finance and Innovation Act of 2014 (WIFIA 2014, Title V, Subtitle C, of P.L. 113-121; 33 U.S.C. §§3901-3915, as amended) authorized the U.S. Army Corps of Engineers (USACE) to provide credit assistance-direct loans or loan guarantees-for water resource projects. USACE's program is called the Corps Water Infrastructure Financing Program (CWIFP). WIFIA 2014 also authorized an analogous Environmental Protection Agency (EPA) program for water projects outside of USACE mission areas. CWIFP Authority, Implementation, and Funding WIFIA 2014 authorized USACE credit assistance for projects with the following purposes: * reduction ofriverine or coastal storm flood damage, * restoration of aquatic ecosystems, * improvement of the inland and intracoastal waterways navigation system, * improvement of navigation at a U.S. harbor, or * a combination of purposes supported by USACE and EPA WIFIA authorities (e.g., drinking water, wastewater, and/or stormwater system improvements). USACE describes benefits for borrowers as interest rates near U.S. Treasury rates, possible matching of repayment schedules with anticipated cash flows, and repayment periods up to 35 years after construction completion. In FY2021, Congress created a USACE Water Infrastructure Finance and Innovation Program (WIFIP) account and first funded the CWIFP to provide credit assistance. Of the $110.8 million in enacted funding to date, Congress has indicated (see Table 1) that * $81.0 million supports credit assistance for nonfederal dam safety projects, * $2.2 million supports credit assistance for nonfederal dam safety and levee projects, and * $27.6 million supports program administration. Eligible dams are those identified as nonfederally owned in the National Inventory of Dams. Congressional Research Service https://crsreports.congress.gov IN12021 CRS INSIGHT Prepared for Members and Committees of Congress

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