Washington Bonds issued to finance the construction or improvement of water and sewage facilities would not be subject to the private-activity bond volume cap if a new bill introduced in the House is passed by Congress.

HR 6194, the Sustainable Water Infrastructure Investment Act of 2008, is currently pending before the House Ways and Means Committee. Rep. Bill Pascrell Jr., D-N.J., a panel member, introduced the legislation June 5. The text of the bill asserts that removing the cap's restrictions from these facilities will give states the chance to address pressing infrastructure needs as federal funds become more scarce.

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