; facilitate increased use of innovative infrastructure delivery methods supporting sustainable water systems through public-private partnerships that optimize design, financing, construction, and long-term management, maintenance and viability; and provide for more effective risk management of complex water infrastructure projects by municipal utility and private sector partners. (b) Purpose The purpose of this Act is to provide alternative financing for long-term infrastructure capital investment programs, and to restore the Nation’s safe drinking water and wastewater infrastructure capability and protect the health of our citizens. 3. Exempt-facility bonds for sewage and water supply facilities (a) Bonds for water and sewage facilities exempt from volume cap on private activity bonds Paragraph (3) of section 146(g) of the Internal Revenue Code of 1986 is amended by inserting (4), (5), after (2), . (b) Conforming change Paragraphs (2) and (3)(B) of section 146(k) of the Internal Revenue Code of 1986 are both amended by striking (4), (5), (6), and inserting (6) . (c) Effective date The amendments made by this section shall apply to obligations issued after the date of the enactment of this Act.