33 U.S. Code § 2223. Transfer of excess credit

(a) Application of credit
(1) In general

Subject to subsection (b), the Secretary may apply credit for in-kind contributions provided by a non-Federal interest that are in excess of the required non-Federal cost share for a water resources development study or project toward the required non-Federal cost share for a different water resources development study or project.

(2) Application prior to completion of project

On request of a non-Federal interest, the credit described in paragraph (1) may be applied prior to completion of a study or project, if the credit amount is verified by the Secretary.

(b) Restrictions
(1) In general

Except for subsection (a)(4)(D)(i) of that section, the requirements of section 1962d–5b of title 42 (as amended by section 1018(a)) shall apply to any credit under this section.

(2) ConditionsCredit in excess of the non-Federal share for a study or project may be approved under this section only if—
(A) the non-Federal interest submits a comprehensive plan to the Secretary that identifies—
(i)
the studies and projects for which the non-Federal interest intends to provide in-kind contributions for credit that are in excess of the non-Federal cost share for the study or project; and
(ii)
the authorized studies and projects to which that excess credit would be applied;
(B)
the Secretary approves the comprehensive plan; and
(C)
the total amount of credit does not exceed the total non-Federal share for the studies and projects in the approved comprehensive plan.
(c) Additional criteriaIn evaluating a request to apply credit in excess of the non-Federal share for a study or project toward a different study or project, the Secretary shall consider whether applying that credit will—
(1)
help to expedite the completion of a project or group of projects;
(2)
reduce costs to the Federal Government; and
(3)
aid the completion of a project that provides significant flood risk reduction or environmental benefits.
(d) Termination of authority

The authority provided in this section shall terminate 10 years after June 10, 2014.

(e) Report
(1) Deadlines
(A) In general

Not later than 2 years after June 10, 2014, and once every 2 years thereafter, the Secretary shall submit to the Committee on Environment and Public Works of the Senate and the Committee on Transportation and Infrastructure of the House of Representatives and make publicly available an interim report on the use of the authority under this section.

(B) Final report

Not later than 10 years after June 10, 2014, the Secretary shall submit to the Committee on Environment and Public Works of the Senate and the Committee on Transportation and Infrastructure of the House of Representatives and make publicly available a final report on the use of the authority under this section.

(2) InclusionsThe reports described in paragraph (1) shall include—
(A)
a description of the use of the authority under this section during the reporting period;
(B)
an assessment of the impact of the authority under this section on the time required to complete projects; and
(C)
an assessment of the impact of the authority under this section on other water resources projects.
References in Text

Section 1018(a), referred to in subsec. (b)(1), means section 1018(a) of Pub. L. 113–121.

Codification

Section was enacted as part of the Water Resources Reform and Development Act of 2014, and not as part of the Water Resources Development Act of 1986 which comprises this chapter.

Amendments

2016—Subsec. (a). Pub. L. 114–322 substituted “Application of credit” for “In general” in subsec. heading, designated existing provisions as par. (1) and inserted par. (1) heading, and added par. (2).

“Secretary” Defined

Secretary means the Secretary of the Army, see section 2 of Pub. L. 113–121, set out as a note under section 2201 of this title.