NAWC commends introduction of bond cap removal bill

Sponsored by


WASHINGTON, DC, May 20, 2014 -- The National Association of Water Companies (NAWC) has commended the introduction of Senate bill S. 2345, by Senators Robert Menendez (D-NJ) and Michael Crapo (R-ID). Proposed on Thursday, May 15, the measure would remove the volume cap on private activity bonds (PABs) used for drinking water and sewage treatment improvement projects.

A companion to an earlier bill (H.R. 4237), introduced by Representatives John Duncan (R-TN) and Bill Pascrell (D-NJ), S. 2345 would provide an opportunity for significant new water and sewer endeavors. As such, the NAWC will continue to work with legislators to advance these measures through Congres.

"The infrastructure that delivers clean water to our homes, workplaces, hospitals, and schools in many communities across the county is in disrepair," said Michael Deane, executive director of the NAWC. "A removal on bond caps for water projects will bring funding for this vital piece of the nation's infrastructure in line with airports, high-speed rail and solid waste disposal, all of which are currently exempt from existing caps.

Accordingly, "PABs are a critical source of financing for the public water systems serviced by regulated water utilities," he said, "and serve as an important tool to leverage the value of public private partnerships (PPPs) in resolving the infrastructure gap that exists in our nation’s water systems."

Deane added, "The NAWC and our member companies support the passage of these bills. Removing the volume cap on PABs for water infrastructure investment could generate up to an estimated $5 to 6 billion in private capital for water projects -- providing resources for improving water infrastructure, generating significant tax revenue for states and communities across the country, and spurring job creation."

See also:

"Water Groups Back Private Activity Bond Proposal"

"Water leaders push for passage of WIFIA on Capitol Hill"


About the NAWC

The National Association of Water Companies (NAWC) is the voice of the private water industry and the organization exclusively representing this group of quality water service providers, innovation drivers, creative financiers and responsible partners. For more information, visit NAWC.org

###

Sponsored by

TODAY'S HEADLINES

EPA announces major modifications to ongoing VT landfill Superfund site remedy

EPA has proposed major recommended modifications to the ongoing remedy of the BFI Rockingham Landfill Superfund Site in Rockingham, Vt., that include an increased timeframe to cleanup groundwater, additional groundwater restrictions, and revised arsenic and lead cleanup levels.

Chevron certified as first company to complete rigorous CSSD evaluation process

Chevron was certified by the Center for Sustainable Shale Development as the first company to successfully complete its rigorous evaluation and verification process.

IEC grants final unanimous approval for ISA100 wireless standard

The International Society of Automation announced that ANSI/ISA-100.11a-2011, "Wireless Systems for Industrial Automation: Process Control and Related Applications," has been unanimously approved by the International Electrotechnical Commission as an international standard.

Eastern Singapore to receive second major water supply plant

PUB has selected BESIN-UEN Consortium as the Preferred Bidder for the second NEWater Plant located in the region of Changi, Singapore. The facility is expected to add another 50 million gallons per day to the nation's water supply.

FOLLOW US ON SOCIAL MEDIA