§2223 Transfer of Excess Credit

Summary

Allows the Secretary to let a non-Federal partner apply extra in-kind help (more than their required share) from one water resources study or project toward the non-Federal share of a different study or project. The Secretary can approve using that extra credit before the first project is finished if the amount is verified. If a project has more than one non-Federal partner, the credit can move to another partner’s project only if all partners agree in writing. All credits must follow the rules in 42 U.S.C. 1962d–5b (as changed by section 1018(a)), except for subsection (a)(4)(D)(i) of that law. A non-Federal partner can get approval for excess credit only if they give the Secretary a comprehensive plan that lists the studies/projects where they gave extra help and the projects that would receive the credit, the Secretary approves that plan, and the total credit does not exceed the total non-Federal share for the listed projects. The Secretary may approve credits before all target projects are named if the partner agrees to later amend the plan before signing any feasibility or project partnership agreement. The Secretary must consider whether the credit speeds completion, lowers Federal costs, or helps projects with big flood-risk reduction or environmental benefits. The authority ends on December 31, 2030. Reports about use of this authority are due not later than 2 years after June 10, 2014 and every 2 years after that, and a final report is due by December 31, 2030, to the Senate Committee on Environment and Public Works and the House Committee on Transportation and Infrastructure and made public. Reports must describe use and assess effects on project timing and on other water projects.