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II
116TH CONGRESS
2D SESSION
S. 4206
To amend the Water Infrastructure Finance and Innovation Act of 2014
to authorize the interest rate to be used on a secured loan to be the
interest rate for United States Treasury securities of a similar maturity
on the date of first disbursement of the loan, and for other purposes.
IN THE SENATE OF THE UNITED STATES
JULY 2, 2020
Mr. MERKLEY introduced the following bill; which was read twice and referred
to the Committee on Environment and Public Works
A BILL
To amend the Water Infrastructure Finance and Innovation
Act of 2014 to authorize the interest rate to be used
on a secured loan to be the interest rate for United
States Treasury securities of a similar maturity on the
date of first disbursement of the loan, and for other
purposes.
Be it enacted by the Senate and House of Representa-
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tives of the United States of America in Congress assembled,
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SECTION 1. INTEREST RATE OF SECURED LOANS.
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(a) IN GENERAL.—Section 5029(b)(4) of the Water
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Infrastructure Finance and Innovation Act of 2014 (33
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U.S.C. 3908(b)(4)) is amended—
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•S 4206 IS
(1) by inserting ‘‘the lesser of’’ after ‘‘less
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than’’;
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(2) by striking ‘‘on the date’’ and inserting the
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following: ‘‘on—
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‘‘(A) the date’’; and
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(3) in subparagraph (A) (as so designated), by
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striking the period at the end and inserting ‘‘; and’’;
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and
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(4) by adding at the end the following:
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‘‘(B) the date of the first disbursement of
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the secured loan.’’.
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(b) APPLICABILITY.—Notwithstanding any other pro-
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vision of law, this Act and the amendments made by this
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Act shall apply to any secured loan (as defined in section
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5022 of the Water Infrastructure Finance and Innovation
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Act of 2014 (33 U.S.C. 3901)) for which, on the date of
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enactment of this Act—
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(1) a loan agreement has been entered into; but
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(2) no disbursement has been made.
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Æ
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