Title 33 — Navigation and Navigable WatersRelease 119-73
§2216 Rate of interest
Title 33 › Chapter CHAPTER 36— - WATER RESOURCES DEVELOPMENT › Subchapter SUBCHAPTER I— - COST SHARING › § 2216
Summary
Non‑Federal parties repaying project costs over time must pay interest set by the Treasury Secretary, based on average yields of U.S. marketable obligations with similar remaining maturities from the month before the fiscal year when construction costs are first incurred (or when recalculated), plus one‑eighth of one percentage point for transaction costs; hydroelectric rates follow existing law.
Full Legal Text
Title 33, §2216
Navigation and Navigable Waters — Source: USLM XML via OLRC
Whenever a non-Federal interest is required or elects to repay an amount under this Act over a period of time, the amount to be repaid shall include interest at a rate determined by the Secretary of the Treasury, taking into consideration the average market yields on outstanding marketable obligations of the United States with remaining periods to maturity comparable to the reimbursement period, during the month preceding the fiscal year in which costs for the construction of the project are first incurred (or in the case of recalculation the fiscal year in which the recalculation is made), plus a premium of one-eighth of one percentage point for transaction costs; except that such rates for hydroelectric power shall be in accordance with existing law.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
References in Text
This Act, referred to in text, is Pub. L. 99–662, Nov. 17, 1986, 100 Stat. 4082, known as the Water Resources Development Act of 1986. For complete classification of this Act to the Code, see
Short Title
note set out under section 2201 of this title and Tables.
Reference
Citations & Metadata
Citation
33 U.S.C. § 2216
Title 33 — Navigation and Navigable Waters
Last Updated
Apr 6, 2026
Release point: 119-73