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Water Projects Financial Security: New Contractor Requirements

New rules aim to enhance the financial security of water infrastructure projects by requiring contractors to provide payment and performance bonds. This means greater protection for subcontractors and suppliers, and assurance that projects will be completed as planned, potentially leading to better quality and timely public investments.
Key points
Mandatory payment and performance security for companies building water infrastructure with federal funding.
State or local security requirements can be used if they cover at least 50% of the total construction contract amount.
Federal security standards will apply if no state or local requirements are in place, increasing project financial safety.
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Additional Information
Print number: 118_HR_1740
Sponsor: Rep. Bost, Mike [R-IL-12]
Process start date: 2023-03-23
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 118_HR_1740.

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 2023-03-23.

What are the main provisions?

Key points include:

  • Mandatory payment and performance security for companies building water infrastructure with federal funding.
  • State or local security requirements can be used if they cover at least 50% of the total construction contract amount.
  • Federal security standards will apply if no state or local requirements are in place, increasing project financial safety.
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. Bost, Mike [R-IL-12].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Environment, Manufacturing, and Critical Materials.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

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Public Investments Environment