Financing Lead Out of Water Act

Financing Lead Out of Water Act of 2023

This bill allows the issuance of tax-exempt private activity bonds to finance the replacement of any privately-owned portion of a lead service line in a public water system. Specifically, the bill provides that the use of proceeds from such bonds for replacement of a lead service line does not constitute private business use.

Bill 118 hr 1407, also known as the Financing Lead Out of Water Act, is a piece of legislation introduced in the US Congress with the goal of addressing the issue of lead contamination in drinking water. The bill aims to provide financial assistance to communities across the country in order to help them remove lead from their water systems and ensure that all Americans have access to clean and safe drinking water.

The Financing Lead Out of Water Act proposes the establishment of a grant program that would provide funding to states, local governments, and water utilities for the purpose of replacing lead service lines and other infrastructure that may be contributing to lead contamination. The bill also includes provisions for technical assistance and training to help communities effectively address lead contamination in their water systems.

In addition, the bill calls for increased monitoring and testing of drinking water for lead, as well as the development of a national strategy to address lead contamination in water systems. The Financing Lead Out of Water Act emphasizes the importance of protecting public health and ensuring that all Americans, especially children and vulnerable populations, have access to clean and safe drinking water. Overall, the Financing Lead Out of Water Act is a comprehensive piece of legislation that seeks to address the serious issue of lead contamination in drinking water and provide much-needed support to communities across the country in their efforts to remove lead from their water systems.