To amend the Water Infrastructure Finance and Innovation Act of 2014 to establish payment and performance security requirements for projects, and for other purposes.

HR 1740 amends the Water Infrastructure Finance and Innovation Act (WIFIA) to require payment and performance security for projects receiving WIFIA assistance. It directly affects water infrastructure projects funded through WIFIA loans or grants by mandating that construction must have security covering at least 50% of the contract value, or accept equivalent state/local requirements. The bill specifies that if state or local law already requires such security, it may be used instead, but the amount must still meet the 50% minimum. This adds a new financial safeguard to ensure project completion without requiring new funding or changing WIFIA’s core structure.