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DEPARTMENT OF THE INTERIOR
Reclamation Bureau
NOTICE: NOTICES
DOCUMENT ACTION: Notice of Change.
SUBJECT CATEGORY: Change in Discount Rate for Water Resources Planning
DATES: This discount rate is to be used for the period October 1, 2007, through and including September 30, 2008.
DOCUMENT SUMMARY: 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 2008 is 4.875 percent. Discounting is to be used to convert future monetary values to present values.
SUMMARY: Water resources planning; discount rate change,
SUPPLEMENTAL INFORMATION
Notice is hereby given that the interest rate to be used by Federal agencies in the formulation and evaluation of plans for water and related land resources is 4.875 percent for fiscal year 2008.This rate has been computed in accordance with Section 80(a), Pub. L. 93251 (88 Stat. 34) and 18 CFR 704.39, which: (1) Specify that the rate shall be based upon the average yield during the preceding fiscal year on interestbearing 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 shall not be raised or lowered more than onequarter of 1 percent for any year. The Treasury Department calculated the specified average to be 4.9229 percent. This average value is then rounded to the nearest oneeighth of a point, resulting in 4.875 percent. The rate therefore remains unchanged from fiscal year 2007.
The rate of 4.875 percent shall 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 commontime basis.
Dated: October 24, 2007.
Roseann Gonzales,
Director, Office of Program and Policy Services, Denver Office. [FR Doc. E722427 Filed 111507; 8:45 am]
BILLING CODE 4310MNP
FOR FURTHER INFORMATION CONTACT Sandra Simons, Contract Services Office, Denver, Colorado 80225; telephone: 3034452902.
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