33 U.S.C. § 2315b

Current through P.L. 118-78 (published on www.congress.gov on 07/30/2024)

Section 2315b - Transparency and accountability in cost sharing for water resources development projects

(a) Definition of balance sheet

In this section, the term "balance sheet" means a document that describes-

(1) the funds provided by each Federal and non-Federal interest for a water resources development project; and

(2) the status of those funds.

(b) Establishment of balance sheet

Each district of the Corps of Engineers shall, using the authority of the Secretary under section 2315 of this title-

(1) maintain a balance sheet for each water resources development project carried out by the Secretary for which a non-Federal cost share is required; and

(2) on request of a non-Federal interest that provided funds for the project, provide to the non-Federal interest a copy of the balance sheet.

(c) Under-budget projects

In the case of a water resources development project carried out by the Secretary that is completed at a cost less than the estimated cost, the Secretary shall transfer any excess non-Federal funds to the non-Federal interest in accordance with the cost-share requirement applicable to the project.

33 U.S.C. § 2315b

Pub. L. 115-270, title I, §11201120,, 132 Stat. 3777.

EDITORIAL NOTES

CODIFICATIONSection was enacted as part of the Water Resources Development Act of 2018, and also as part of the America's Water Infrastructure Act of 2018, and not as part of the Water Resources Development Act of 1986 which comprises this chapter.

STATUTORY NOTES AND RELATED SUBSIDIARIES

"SECRETARY" DEFINED Secretary means the Secretary of the Army, see section 102 of Pub. L. 115-270 set out as a note under section 2201 of this title.