Water: Clean Water State Revolving Fund
CWSRF Program Diagram
Scroll below for details on components of the CWSRF program diagram.
Components of the CWSRF Program
State CWSRF Program
Clean Water State Revolving Fund (CWSRF) programs combine the federal and state capitalization funds with other program resources including tax-exempt revenue bond proceeds, fund investment earnings, and loan repayments to provide low-interest loans for eligible projects. Nationally, CWSRFs have provided more than $63 billion cumulatively ($5.3 billion in 2007) to communities to protect water quality.
States are responsible for CWSRF program operation. Oftentimes, a state will partner with other state agencies to manage and operate their CWSRF program, such as placing either an environmental agency or a financing authority in the lead management role. Thirty-one states report that two state agencies share in these CWSRF program management responsibilities.
Federal Capitalization and State Match Provide Initial Funding
Capitalization funds from the federal government and state matching funds (equal to 20 percent of federal capitalization) provide the seed money to initiate the funding. Nationally, federal capitalization exceeds $25 billion and state matching funds exceeds $5.3 billion.
Bond Holders Provide Additional Funding
Using fund assets as collateral, 27 states have issued tax-exempt revenue bonds to leverage their CWSRF programs and provide an additional $20.6 billion (net of reserves) nationally to funds available for water quality protection projects. Bond proceeds are combined with federal and state capitalization funds, fund investment earnings, and loan repayments to provide low-interest loans for eligible projects.
Nearly $60 billion has been provided nationally through the CWSRF program for municipal wastewater treatment facilities. Examples of the types of projects funded include secondary and advanced treatment works, collector sewers, sanitary and combined sewer overflow correction, and stormwater management.
Nonpoint Sources and Estuary Protection
The CWSRF program funds a significant amount of nonpoint source and estuary activities in addition to funding municipal wastewater treatment facilities. To date, CWSRFs have provided $2.6 billion ($240 million in 2007) for activities such as watershed management, wetlands protection, contaminated urban and rural runoff control, brownfields remediation, ground water protection, habitat protection, and estuary management.