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The National Association of Water Companies Applauds Introduction of S. 2345

05/20/2014

The National Association of Water Companies (NAWC) applauds the introduction of S. 2345 by Senators Robert Menendez (D-NJ) and Michael Crapo (R-ID).  Introduced on May 15, 2014, the bill would remove the volume cap on private activity bonds (PABs) used for drinking water and sewage treatment improvement projects. This is a companion to an earlier bill (H.R. 4237) introduced by Representatives John Duncan (R-TN) and Bill Pascrell (D-NJ).  

“The infrastructure that delivers clean water to our homes, workplaces, hospitals and schools in many communities across the county is in disrepair,” said Michael Deane, executive director of the NAWC.  “A removal on bond caps for water projects will bring funding for this vital piece of the nation’s infrastructure in line with airports, high-speed rail and solid waste disposal, all of which are currently exempt from existing caps.  PABs are a critical source of financing for the public water systems serviced by regulated water utilities, and serve as an important tool to leverage the value of public private partnerships in resolving the infrastructure gap that exists in our nation’s water systems.”

“The NAWC and our member companies support the passage of these bills.  Removing the volume cap on PABs for water infrastructure investment could generate up to an estimated $5-6 billion in private capital for water projects -- providing resources for improving water infrastructure, generating significant tax revenue for states and communities across the country, and spurring job creation.”

The NAWC will continue to work with legislators to advance these measures through Congress.

About the NAWC
The National Association of Water Companies (NAWC) is the voice of the private water industry and the organization exclusively representing this group of quality water service providers, innovation drivers, creative financiers and responsible partners. To learn more about NAWC, visit w or follow them on Twitter and Facebook.

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