A bill to amend the Water Infrastructure Finance and Innovation Act of 2014 to authorize the interest rate to be used on a secured loan to be the interest rate for United States Treasury securities of a similar maturity on the date of first disbursement of the loan, and for other purposes.
Latest action · Jul 2, 2020 Read twice and referred to the Committee on Environment and Public Works.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJul 2, 2020
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
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.
Cosponsors
Members who signed on, in the order they did.
Actions 2
Everything that happened, newest first.
- Jul 2, 2020Introduced in Senate
- Jul 2, 2020Read twice and referred to the Committee on Environment and Public Works.
Subjects
Assigned by the Library of Congress. Policy area: Water Resources Development.
Text 1
Each version as it was printed, newest first.
- Jul 2, 2020Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.