Securing Required Funding for Water Infrastructure Now Act or the SRF WIN Act
This bill amends the Water Infrastructure Finance and Innovation Act of 2014 (WIFIA) to allow the Environmental Protection Agency (EPA) to provide additional financial assistance (e.g., low-interest loans) through FY2023 to state infrastructure financing authorities for drinking water state revolving funds (SRFs) and clean water SRFs to carry out certain water and wastewater infrastructure projects.
For projects funded under this bill, the EPA: (1) must expedite their application and review process, (2) may provide up to 100% of the project costs, and (3) must provide financial assistance based on need and give equal consideration to drinking water projects and wastewater projects. Total financial assistance provided under this bill may not exceed $7 billion per state.
The bill authorizes the U.S. Army Corps of Engineers and the EPA to provide financial assistance under WIFIA to carry out projects for flood damage reduction, storm damage reduction, environmental restoration, or navigation improvement to certain waterways. Under current law, such financial assistance may be provided to only pilot projects.