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1 1 (August 4, 2025)

handle is hein.crs/jthdr0001 and id is 1 raw text is: ACongressional *aResearch Service informing the legislative debate since 1914___________________ Corps Water Infrastructure Financing Program (CWIFP) Updated August 4, 2025 The Water Infrastructure Finance and Innovation Act of 2014 (WIFIA 2014, Title V, Subtitle C, of P.L. 113-121, as amended; 33 U.S.C. §§3901-3915) authorized the U.S. Army Corps of Engineers (USACE) to provide credit assistance-direct loans or loan guarantees-for water resource projects. USACE's program is called the Corps Water Infrastructure Financing Program (CWIFP). WIFIA 2014 also authorized an analogous Environmental Protection Agency (EPA) program for water projects outside of USACE mission areas. CWIFP Authority, Implementation, and Funding WIFIA 2014 authorized USACE credit assistance for projects that reduce riverine or coastal storm flood damage, restore aquatic ecosystems, • improve the inland and intracoastal waterways navigation system, improve navigation at a U.S. harbor, or support a combination of purposes assisted by USACE and EPA WIFIA authorities (e.g., drinking water, wastewater, and/or stormwater system improvements). USACE describes borrowers' benefits as interest rates near U.S. Treasury rates, possible matching of repayment schedules with anticipated cash flows, and repayment periods up to 35 years after construction completion. In FY2021, Congress created a USACE Water Infrastructure Finance and Innovation Program (WIFIP) account and funded CWIFP to provide credit assistance. Of the $118 million in enacted funding to date, Congress has indicated that a portion of funding is for nonfederal dam safety projects, some funds are for either nonfederal dam safety or nonfederal levee projects, and other funds are for program administration (see Table 1). Eligible dams are those identified as nonfederally owned in the National Inventory of Dams. Congressional Research Service https://crsreports.congress.gov IN12021 CRS INSIGHT Prepared for Members and Committees of Congress