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

CSSD expands performance standard to address treatment of shale wastewater

The Center for Sustainable Shale Development announced that it has expanded its wastewater Performance Standard 1 to address the treatment of shale wastewater at permitted facilities.

Water Council announces Round III of The Brew accelerator program

The BREW, a first-of-its-kind place-based global seed accelerator for water technology startups led by The Water Council, has announced that it is launching Round III of the program.  

Siemens to supply turbines for MI combined-cycled power plant project

Siemens has announced that it is supplying two gas turbines and one steam turbine for the Holland Energy Park combined-cycle power plant, to be constructed in the city of Holland, Mich.

CA city deploys smart water software for improved decision support, capital planning

In an effort to prioritize main replacement, coordinate outage response, pinpoint capacity deficiencies, and identify optimal flushing locations in the city of Santa Ana, Calif., the Santa Ana Public Works Agency is adopting Sedaru smart water enterprise software from IDModeling, Inc.

FOLLOW US ON SOCIAL MEDIA