This bill adds a new subsection to section 403 of the Agricultural Credit Act of 1978 about "preagreement costs" for the Emergency Watershed Program. It defines "sponsor" to mean a State or local government or an Indian Tribe. Within 180 days, the Secretary must (1) list which emergency watershed protection measures a sponsor may pay for before signing an agreement, and (2) create a state-level procedure and deadlines for sponsors to request additional measures for a specified natural disaster. If the Secretary later signs an agreement with a sponsor, the Secretary must treat any allowable preagreement costs the sponsor already paid as part of the sponsor's contribution to the project. Sponsors who pay costs before an agreement assume the risk of those costs. The bill also says nothing in the new rule requires the Secretary to enter into an agreement.
No publicly available information on federal costs or budgetary estimates is included in the bill text. The bill does state that sponsors may pay preagreement costs and that those allowable costs can later count as part of the sponsor's contribution if an agreement is reached. Sponsors assume the risk of those costs.
No publicly available information.
No publicly available information.