Bill > HR499

This bill, the Sustainable Water Infrastructure Investment Act of 2015, aims to improve the nation's water and wastewater systems by making it easier to finance necessary upgrades and repairs. It proposes to amend the Internal Revenue Code, which is the set of laws governing federal taxes in the United States. Specifically, the bill seeks to exempt bonds issued for sewage and water supply facilities from "state volume caps." These volume caps are limits imposed by the federal government on the total amount of certain tax-exempt bonds that states can issue each year, and they have historically restricted funding for water infrastructure projects. By removing these caps for water and sewage facilities, the bill intends to encourage greater investment in critical infrastructure, create jobs, and ensure the continued provision of safe drinking water and sanitation to citizens, addressing the significant costs associated with maintaining and improving these essential services.