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This bill amends the Water Infrastructure Finance and Innovation Act of 2014 to establish payment and performance security requirements for water infrastructure projects receiving federal financing assistance. Projects must either comply with applicable state or local payment and performance security requirements of at least 50 percent of the construction contract amount, or meet federal bonding requirements under 40 U.S.C. § 3131(b) if no state or local requirements apply. The bill aims to protect subcontractors and taxpayers by ensuring financial security for project completion.
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