WASHINGTON – (RealEstateRama) — U.S. Representative Jeff Denham (R-Turlock) has introduced H.R.6022, the “New Water Available To Every Reclamation State Act” (New WATER Act), which would authorize a pilot project to help finance development of water resources infrastructure in reclamation states, such as California.
“The Central Valley desperately needs to build more infrastructure for water storage and delivery,” said Rep. Denham. “The New WATER Act would provide funding for projects that improve water delivery for residential, agriculture and municipal uses.”
The bill encourages private investment in systems that serve the public interest by providing low-interest, government-backed loans with a long repayment period. In order to be approved, projects must be capable of generating sustainable revenue streams, whether through user fees or other dedicated sources.
Eligible projects include those that would contribute to a safe, adequate water supply; increase energy efficiency of existing water systems; accelerate repair or replacement of aging systems; develop desalination facilities; or use real property for water storage.
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Editor’s Note: A copy of the full bill text is available here.