WIFIA Amended in Transportation Bill

This week, House and Senate negotiators included, in the conference version of their surface transportation bill, language that would revise a provision in the Water Infrastructure Finance and Innovation Act (WIFIA).  (The surface transportation bill, known as FAST (Fixing America’s Surface Transportation Act) is otherwise unrelated to water infrastructure financing, but was used as a legislative vehicle for the amendment.)  Termed the so-called “WIFIA Fix”, the amendment would remove the current 49% ceiling on the use of tax-exempt financing on WIFIA loans, thereby allowing WIFIA projects to be financed with 100% tax-free financing.  The bill passed both the House and Senate on December 3rd and is expected to be signed by the President shortly.