Today President Biden signed the Water Resources Development Act of 2022 into law.
WRDA 2022, which remains on a biennial schedule in Congress, includes a policy provision that makes permanent the 65% general revenues/35% Inland Waterways Trust Fund cost-share for lock and dam construction and major rehabilitation projects. Congress established a 65%/35% cost-sharing formula in WRDA 2020 that was set to expire in 2031, at which time the cost-share would return to the former formula of a 50%/50% split between the general fund and IWTF. The 65%/35% ratio would allow IWTF dollars to help finance more projects than under the 50%/50% cost-share.
NCGA will push to pass a 75%/25% cost-share and WRDA 2024 in the 118th Congress.