To authorize the International Boundary and Water Commission to accept funds for activities relating to wastewater treatment and flood control works, and for other purposes.

HR 1948 authorizes the International Boundary and Water Commission (IBWC) to accept funds from federal or non-federal entities - including grants or agreements - to study, design, construct, operate, or maintain wastewater treatment facilities, water conservation projects, and flood control works along the U.S.-Mexico border. The bill requires these funds to be deposited into a specific U.S. Treasury account and imposes a $5 million annual limit on reimbursing non-federal partners for project costs. It also prohibits accepting funds from entities tied to "foreign countries of concern" (as defined in other law) and mandates annual reports to Congress detailing how funds were used. This bill directly affects the IBWC’s funding mechanisms and entities providing financial support for border water infrastructure projects.