Maturity date

Section 5029(b)(5) of the Water Infrastructure Finance and Innovation Act of 2014 (33 U.S.C. 3908(b)(5)) is amended— (1) in subparagraph (B), by striking The final maturity date and inserting Notwithstanding subparagraphs (A) and (B), the final maturity date; (2) by redesignating subparagraph (B) as subparagraph (C); and (3) by inserting after subparagraph (A) the following: (B) Projects with a useful life of more than 35 years Notwithstanding subparagraph (A), for a project with a useful life of more than 35 years (as determined by the Secretary or the Administrator, as applicable), the final maturity date of a secured loan under this section shall be not later than the earlier of— (i) the date that is 55 years after the date of substantial completion of the relevant project (as determined by the Secretary or the Administrator, as applicable); and (ii) if the useful life of the project is less than 55 years, the useful life of the project..