Summary: H.R.1647 — 115th Congress (2017-2018)All Information (Except Text)

There is one summary for H.R.1647. Bill summaries are authored by CRS.

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Introduced in House (03/21/2017)

Water Infrastructure Trust Fund Act of 2017

This bill amends the Internal Revenue Code to establish in the Treasury a Water Infrastructure Trust Fund and appropriates to it amounts equivalent to the fees received in the Treasury before January 1, 2023, under this bill.

The bill requires 50% of amounts in the fund to be available to the Environmental Protection Agency for capitalization grants under the Federal Water Pollution Control Act (commonly known as the Clean Water Act or CWA) and 50% to be available for capitalization grants under the Safe Drinking Water Act.

Amounts in the fund may not be made available for a fiscal year unless the amount of funds appropriated to the Clean Water State Revolving Fund through annual capitalization grants is not less than the average of the annual amounts provided in capitalization grants under the CWA for the immediately preceding five-fiscal-year period.

The Department of the Treasury shall: (1) implement a program under which it provides a label suitable for placement on products (for a fee of three cents per unit) to inform consumers that the manufacturer, producer, or importer of the product and other stakeholders participate in the fund and are contributing to America's clean water; and (2) deposit amounts received in the Treasury.