This bill would rescind unexpended federal funds originally designated for Internal Revenue Service enforcement and COVID-19 relief programs, then redirect those funds toward water infrastructure projects. Specifically, it would redirect approximately $4.8 billion across fiscal years 2024 through 2026 to support state water revolving funds, Army Corps of Engineers water projects, and Bureau of Reclamation initiatives, with at least $200 million allocated to water projects in the Northeast region including Long Island and New York City. The bill affects states and municipalities that rely on federal water infrastructure funding, as well as taxpayers whose dollars would be repurposed from their original intent. A key requirement is that all redirected funds must be fully obligated by December 13, 2023. If the rescinded IRS and COVID-19 relief funds prove insufficient to cover the authorized water spending, the bill would allow additional funds to be appropriated as needed.