83 FR 1272 - Change in Discount Rate for Water Resources Planning

DEPARTMENT OF THE INTERIOR
Bureau of Reclamation

Federal Register Volume 83, Issue 7 (January 10, 2018)

The Bureau of Reclamation is announcing the interest rate to be used by Federal agencies in the formulation and evaluation of plans for water and related land resources is 2.750 percent for fiscal year 2018.

[Federal Register Volume 83, Number 7 (Wednesday, January 10, 2018)]
[Notices]
[Pages 1272-1273]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-00251]


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DEPARTMENT OF THE INTERIOR

Bureau of Reclamation

[RR83550000, 189R5065C6, RX.59389832.1009676.]


Change in Discount Rate for Water Resources Planning

AGENCY: Bureau of Reclamation, Interior.

ACTION: Notice of change in discount rate.

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SUMMARY: The Bureau of Reclamation is announcing the interest rate to 
be used by Federal agencies in the formulation and evaluation of plans 
for water and related land resources is 2.750 percent for fiscal year 
2018.

DATES: This discount rate is to be used for the period October 1, 2017, 
through and including September 30, 2018.

FOR FURTHER INFORMATION CONTACT: Mr. DeShawn Woods, Bureau of 
Reclamation, Reclamation Law Administration Division, P.O. Box 25007, 
Denver, Colorado 80225; telephone 303-445-2900.

SUPPLEMENTARY INFORMATION: The Water Resources Planning Act of 1965 and 
the Water Resources Development Act of 1974 require an annual 
determination of a discount rate for Federal water resources planning. 
The discount rate for Federal water resources planning for fiscal year 
2018 is 2.750 percent. Discounting is to be used to convert future 
monetary values to present values.
    This rate has been computed in accordance with Section 80(a), 
Public Law 93-251 (88 Stat. 34), and 18 CFR 704.39, which: (1) Specify 
that the rate will be based upon the average yield during the preceding 
fiscal year on

[[Page 1273]]

interest-bearing marketable securities of the United States which, at 
the time the computation is made, have terms of 15 years or more 
remaining to maturity (average yield is rounded to nearest one-eighth 
percent); and (2) provide that the rate will not be raised or lowered 
more than one-quarter of 1 percent for any year. The U.S. Department of 
the Treasury calculated the specified average to be 2.7118 percent. 
This rate, rounded to the nearest one-eighth percent, is 2.750 percent, 
which is a change of less than the allowable one-quarter of 1 percent. 
Therefore, the fiscal year 2018 rate is 2.750 percent.
    The rate of 2.750 percent will be used by all Federal agencies in 
the formulation and evaluation of water and related land resources 
plans for the purpose of discounting future benefits and computing 
costs or otherwise converting benefits and costs to a common-time 
basis.

    Dated: October 23, 2017.
Ruth Welch,
Director, Policy and Administration.
[FR Doc. 2018-00251 Filed 1-9-18; 8:45 am]
 BILLING CODE 4332-90-P