Change in Discount Rate for Water Resources Planning

Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Department of the Interior Bureau of Reclamation [RR83550000, 245R5065C6, RX.59389832.1009676] AGENCY: Bureau of Reclamation, Interior. ACTION: Notice of change in discount rate. 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 3.00 percent for fiscal year 2025. DATES: This discount rate is to be used for the period October 1, 2024, through and including September 30, 2025. FOR FURTHER INFORMATION CONTACT: Brandee Blumenthal, Bureau of Reclamation, Reclamation Law Administration Division, P.O. Box 25007, Denver, Colorado 80225; telephone (303) 445-2435; or email at bblumenthal@usbr.gov . 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 2025 is 3.00 percent. The prior year's rate, as announced in the Federal Register on November 16, 2023 ( 88 FR 78785 ), was 2.75 percent for fiscal year 2024. Discounting is 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 interest-bearing marketable securities of th…