(1) The health of millions of citizens of this Commonwealth is at risk due to substandard and deteriorated water supply and sewage disposal systems.

(2) Many water and sewage systems in this Commonwealth are aging, outmoded, inadequate, deteriorating and operating above capacity, and many areas have to limit their growth solely due to lack of proper water supply and sewage disposal.

(3) The economic revitalization of this Commonwealth is being stifled by a lack of clean water and adequate sewage facilities.

(4) Many Pennsylvania communities have antiquated or inadequate storm water systems thereby resulting in storm water flows which threaten the public health and safety due to flooding, overloaded sewer lines, soil erosion, sinkhole development and expansion and reduction in surface water and groundwater quality.

(5) Financing of water and sewage projects and storm water projects at affordable cost is not currently available in many areas of this Commonwealth.

(6) The lack of affordable financing to implement storm water management plan recommendations has resulted in compliance by only 17 counties with the requirements of the act of October 4, 1978 (P.L. 864, No. 167), known as the Storm Water Management Act.¹

(7) In order to assist in financing projects to protect the health and safety of the citizens of this Commonwealth and to promote the economic development of Pennsylvania, the General Assembly has determined that it is necessary to establish the Pennsylvania Infrastructure Investment Authority and to provide funding of the authority programs.