Requires water infrastructure projects to have financial security, providing financial security for taxpayers and workers.
Currently, large water projects funded by the government don't always have specific financial security for construction. This bill would require these projects to have payment and performance security, like bonds, to provide financial security for subcontractors and ensure projects are completed. This would help secure public money and ensure workers get paid.
Today, water infrastructure projects receiving federal WIFIA assistance are not explicitly required to have construction payment and performance security. If this bill becomes law, these projects would be required to have this security. They could meet this by using state or local laws that cover at least 50 percent of the total construction contract amount, or by meeting federal bonding requirements.
HR 1285 · 119th Congress · February 13, 2025 · AI Summary by gemini-2.5-flash · 8/10
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24 filings mentioned this bill
Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.