[Federal Register Volume 78, Number 52 (Monday, March 18, 2013)]
[Notices]
[Page 16706]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-06177]


-----------------------------------------------------------------------

DEPARTMENT OF THE INTERIOR

Bureau of Reclamation


Change in Discount Rate for Water Resources Planning

AGENCY: Bureau of Reclamation, Interior.

ACTION: Notice of change.

-----------------------------------------------------------------------

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 2013 is 3.75 
percent. Discounting is to be used to convert future monetary values to 
present values.

DATES: This discount rate is to be used for the period October 1, 2012, 
through and including September 30, 2013.

FOR FURTHER INFORMATION CONTACT: Michelle Kelly, Water and 
Environmental Resources Division, Denver, Colorado 80225; telephone: 
303-445-2888.

SUPPLEMENTARY 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 3.75 percent for 
fiscal year 2013.
    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 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 
2.6948 percent. This decrease is greater than the one-quarter of 1 
percent allowed. Therefore; based on the fiscal year 2012 rate of 4 
percent, the fiscal year 2013 rate is 3.75 percent.
    The rate of 3.75 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: March 11, 2013.
Richard W. Rizzi,
Acting Director, Policy and Administration.
[FR Doc. 2013-06177 Filed 3-15-13; 8:45 am]
BILLING CODE 4310-MN-P