In the near future, I plan to introduce legislation that will allow the Pennsylvania Infrastructure Investment Authority (PENNVEST) to refinance loans for eligible projects.
 
Established in the late 1980s, PENNVEST was created by the General Assembly to provide low-interest loans for the installation, repair, or maintenance of aging water supply and sewage disposal systems, ensuring clean drinking water for local communities.
 
My legislation will enable PENNVEST to refinance loans for projects related to the treatment or disposal of wastewater, the supply of clean drinking water, or the control of pollution resulting from stormwater. This much-needed option for refinancing will equip our local communities to navigate financial challenges in repaying existing loans and ultimately, will alleviate burdensome debt obligations. For example, a small, rural township in my district estimates that it could save approximately $21,000 per year on loan payments if it were able to refinance its loans at a lower rate.
 
This initiative aligns with PENNVEST’s mission to enhance the state’s sewage and disposal system infrastructure, provide more access to clean water, and support local economic development. Importantly, it will provide significant savings and greater financial security for essential infrastructure in our local communities.
 
I invite you to join me in co-sponsoring this commonsense proposal. If you have any questions, please feel free to contact Isaac Evans in my office at ievans@pasen.gov or 717-787-9684.