This bill establishes a new grant program, administered by the Environmental Protection Agency, to fund advanced wastewater treatment projects across States. It authorizes $1,000,000,000 for this purpose over fiscal years 2026 through 2030, with funds remaining available until expended. The program significantly prioritizes qualified disadvantaged communities by waiving the typical 50 percent non-Federal cost share for their projects and earmarking at least 49 percent of funds for initiatives directly benefiting them or operated by entities serving them. Beyond the grant program, the bill mandates a comprehensive study on the effectiveness of advanced wastewater treatment technologies. The Environmental Protection Agency, in collaboration with the National Institute of Standards and Technology, will engage the National Academies to conduct this research. The study will specifically investigate the technologies' ability to capture emerging contaminants , such as nanomaterials and perfluoroalkyl and polyfluoroalkyl substances (PFAS). An interim report is required within three years of enactment, with a final report due within five years.