"This report addresses several options being considered by Congress to address the financing needs of local communities for wastewater and drinking water infrastructure projects and to decrease or close the gap between available funds and projected needs. Some of the options exist and are well established, but they are under discussion for expansion or modification. Other innovative policy options for water infrastructure have recently been proposed, especially to supplement or complement existing financing tools. Some are intended to provide robust, long-term revenue to support existing financing programs and mechanisms. Some are intended to encourage private participation in financing of drinking water and wastewater projects. Six options that are reflected in recent legislative proposals, including their budgetary implications, are discussed.  Increase funding for the State Revolving Fund (SRF) programs in the Clean Water Act (H.R. 1877 in the 113th Congress) and the Safe Drinking Water Act (H.R. 5320 in the 111th Congress),  Create a federal water infrastructure trust fund (H.R. 3582 and H.R. 1877 in the 113th Congress),  Create a 'Water Infrastructure Finance and Innovation Act' Program, or WIFIA (S. 601 and S. 335 in the 113th Congress),  Create a national infrastructure bank (H.R. 2084, H.R. 2553, H.R. 2881, S. 1716, S. 1957, H.R. 505, and H.R. 3939 in the 113th Congress),  Lift restrictions on private activity bonds for water infrastructure projects (included in the Administration's FY2015 budget request and H.R. 3939 and H.R. 4237 in the 113th Congress), and  Reinstate authority for the issuance of Build America Bonds (included in the Administration's FY2015 budget request and H.R. 535, H.R. 789, H.R. 3939, and S. 2203 in the 113th Congress)."
CRS Report for Congress, R42467