Western Water Accelerated Revenue Repayment Act
Western Water Accelerated Revenue Repayment Act would make two relatively narrow changes to the Water Infrastructure Improvements for the Nation Act (WIIN Act). First, it adds flexibility for where certain funding related to offsets and water storage can be deposited, allowing project-specific statutes that are in effect before this bill’s passage to direct those funds to accounts other than the General Reclamation Fund. Second, it extends the law’s contract prepayment authority to include section 4011, by treating it as eligible for prepayment under section 4013. In plain terms, the bill broadens where some project funds can go and expands the ability to prepay contracts tied to Western water projects, potentially accelerating repayment to the federal government and giving project sponsors more payment flexibility.
Key Points
- 1Flexibility in fund allocation: For offsets and the Water Storage Account, funds directed by project-specific statutes may be deposited into accounts other than the General Reclamation Fund.
- 2Extends prepayment authority: The bill broadens the prepayment authority under WIIN Act by including section 4011 in the list of authorities eligible for contract prepayment.
- 3Cross-referencing expansion: Adds a new reference to section 4011 within section 4013 to formalize the expanded prepayment coverage.
- 4Nature of changes: The amendments are administrative and definitional, not appropriations; they alter how funds may be categorized and how prepayments can be utilized.
- 5Short title: The act would be officially cited as the “Western Water Accelerated Revenue Repayment Act.”