This bill modifies statutory requirements related to the minimum interest rate for a secured loan provided under a federal program to help finance water infrastructure projects (i.e., the program established under the Water Infrastructure Finance and Innovation Act of 2014).
Specifically, the interest rate for such a loan shall not be less than the yield of U.S. Treasury securities of similar maturity to the loan, either on the date the loan agreement was executed or the date of the loan's first disbursement, whichever is lower. Currently, the statute only takes into consideration the yield of comparable U.S. Treasury securities on the execution date of the loan agreement.