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challenges,and whether that is a bulk of all PABs were issued to water and <br /> sale contract, or an operation and main- wastewater projects. <br /> tenance, or an acquisition, it really comes The Sustainable Water Infrastructure <br /> down to what the customer wants.. Investment Act(H.R.537,S.3262),which <br /> The bottom line is that many com- is included in the upcoming tax.extender <br /> munities are looking for help because bill,will remove the cap for public- <br /> they do not want to fall further and purpose water and wastewater projects. <br /> further behind in maintaining and Once passed, this legislation will not only <br /> upgrading their infrastructure, and in. <br /> n address the nation's deteriorating water <br /> most instances, private water compa- and wastewater infrastructure,it will also <br /> nies can help them. generate thousands of jobs and help.stim- <br /> ulate the economy. <br /> Simeonova:What does the future The U.S. Environmental Protection <br /> hold for water and wastewater infra- Agency projected that this simple <br /> structure funding? change in the tax code could pump as <br /> Correll:The tax-exempt private much as$5 billion to $6 billion annu- <br /> activity bond (PAB) is one of the most ally toward addressing our nation's <br /> useful tools the federal government can infrastructure challenges.This legisla- <br /> offer states and municipalities to help tion will also result in lower-cost financ- <br /> provide for long-term, capital-intensive ing for water utilities;and those savings <br /> infrastructure projects. But Congress can be passed on to customers. It will <br /> controls the issuance of these bonds by also spread the financial risk to the pri- <br /> limiting each state with an annual cap. vate sector and help relieve all levels of <br /> In 2009,'the state volume cap was government from the burden of funding <br /> equal to the greater amount of either these needed investments.MM <br /> $90 per state resident or$273.27 mil- Neda Simeonova is editorial director of <br /> lion, depending on population. This Water&Wastes Digest.Simeonova can <br /> cap hinders the use of PABs for water be reached at nsimeonova@sgemaii.eom <br /> and wastewater infrastructure projects, or 847.391.1011. <br /> which are generally multiyear pro)- <br /> ects, in favor of short-term, politically For more information,write in 1103 on <br /> attractive projects such as housing and this issue's Reader Service Card or visit <br /> education. In fact, in 2007, only 1.3% www.wwdmaj.com/Im.cfm/wd09loo3. <br />