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Water Projects Financial Security: New Contractor Requirements.

New rules aim to enhance the financial security of water infrastructure projects. This means companies building such projects will need to provide payment and performance bonds, protecting subcontractors and suppliers from insolvency and ensuring project completion. As a result, citizens can be more confident that public funds are better protected and essential water investments will be delivered as planned.
Key points
Mandatory payment and performance security for companies undertaking federally assisted water projects.
Protection for subcontractors and suppliers against the risk of non-payment for work or materials.
Increased assurance that water infrastructure projects will be completed, even if the contractor faces financial difficulties.
State or local security requirements can be accepted if they meet federal minimum standards.
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Additional Information
Print number: 117_HR_9665
Sponsor: Rep. Lynch, Stephen F. [D-MA-8]
Process start date: 2022-12-21
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To amend the Water Infrastructure Finance and Innovation Act of 2014 to establish payment and performance security requirements for projects, and for other purposes.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_9665.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-12-21.

What are the main provisions?

Key points include:

  • Mandatory payment and performance security for companies undertaking federally assisted water projects.
  • Protection for subcontractors and suppliers against the risk of non-payment for work or materials.
  • Increased assurance that water infrastructure projects will be completed, even if the contractor faces financial difficulties.
  • State or local security requirements can be accepted if they meet federal minimum standards.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Lynch, Stephen F. [D-MA-8].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Water Resources and Environment.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

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Public Investments Environment