Congressional Budget Office Cost Estimate: H.R. 569, Water Quality Investment Act of 2007 [open pdf - 32KB]
From the Summary: "H.R. 569 would authorize the appropriation of $1.80 billion over the 2008-2012 period for the Environmental Protection Agency (EPA) to provide grants to municipalities and states to control overflows of untreated wastewater that can occur during episodes of wet weather. Such overflows of sewage can pose a health and safety risk if they flow into rivers, lakes, and streets. This legislation also would permit states and municipalities to use the grant money to provide loans for eligible projects. CBO [Congressional Budget Office] estimates that implementing this legislation would cost about $1.45 billion over the next five years and an additional $0.35 billion after 2012, assuming appropriation of the authorized amounts. Enacting the bill would not affect direct spending or receipts. H.R. 569 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act (UMRA) and would impose no costs on state, local, or tribal governments. Enacting this bill would benefit states and municipalities receiving grant funding to control sewer overflow; any costs that they might incur would result from complying with conditions of federal assistance."
Congressional Budget Office: http://cbo.gov