33 USC 2223 - Transfer of excess credit

U.S Code last checked for updates: Nov 22, 2024

§ 2223.

Transfer of excess credit

(a)

Application of credit

(1)

In general

(2)

Application prior to completion of project

(3)

Studies and projects with multiple non-Federal interests

(b)

Restrictions

(1)

In general

(2)

Conditions

Credit 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.

(3)

Conditional approval of excess credit

(c)

Additional criteria

In 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

(e)

Report

(1)

Deadlines

(A)

In general

(B)

Final report

(2)

Inclusions

The 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.

(Pub. L. 113–121, title I, § 1020, June 10, 2014, 128 Stat. 1227; Pub. L. 114–322, title I, § 1166, Dec. 16, 2016, 130 Stat. 1670; Pub. L. 117–263, div. H, title LXXXI, § 8383, Dec. 23, 2022, 136 Stat. 3829.)

cite as: 33 USC 2223