In January, congressmen reintroduced H.R. 499, the Sustainable Water Infrastructure Investment Act of 2015, in the U.S. House of Representatives. The Sustainable Water Infrastructure Coalition (SWIC), the advocacy group supporting the bill and private activity bond legislation says it expects the bill to be introduced in the Senate in the coming weeks.??????
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The bipartisan legislation would remove water and wastewater projects from restrictive private activity bond (PAB) state volume caps, encouraging public-private partnerships and enabling private capital investment for water and wastewater infrastructure.
Communities across the country are faced with the challenge of aging and outdated water and wastewater systems in which much of the existing infrastructure has reached or is approaching the end of its useful life. Recent U.S. EPA water and wastewater reports estimate more than $600 billion in infrastructure improvements are needed over the next 20 years to meet safe drinking water and sanitation standards. Municipal investment in these projects will be difficult as many states and local governments face budget constraints, revenue shortfalls and opposition to new taxes.
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Removing water and wastewater projects from the state volume cap could generate as much as $5 billion annually in private capital investment for water and wastewater infrastructure projects, according to former EPA Administrator Stephen Johnson. Moreover, each dollar invested in sewer systems and water projects today will generate $2.03 in federal, state and local tax receipts over 20 years, according to a recent study commissioned by the Associated Equipment Distributors (AED).?
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