This bill changes the rules for how water infrastructure projects get funded through federal loans. Specifically, it requires that any organization borrowing money to build water infrastructure projects must put up bonds—basically financial guarantees—to protect the government's investment. Think of it like a security deposit: if a construction company takes out a federal loan to build a water treatment plant or pipeline, they now have to post a bond that promises they'll complete the work properly and pay their workers and suppliers. If something goes wrong with the project, the government can use that bond money to cover losses. The bill sets minimum amounts for these bonds, meaning there are specific dollar thresholds that borrowers must meet depending on their project size. This protects taxpayers by ensuring that if a water infrastructure project fails or goes over budget, there's money set aside to cover the problems rather than leaving the government holding the bag.

To amend the Water Infrastructure Finance and Innovation Act of 2014 to establish payment and performance security requirements for projects, and for other purposes.

Bost, Mike

 <p>This bill establishes bonding requirements for the recipient of a water infrastructure construction loan under the Water Infrastructure Finance and Innovation Act. A borrower must secure the financed project with payment and performance bonds in minimum amounts set out in the bill.<br> </p>