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In May 2023, the U.S. Army Corps of Engineers (Corps) issued a final rule (88 Fed. Reg. 32661) for a Federal credit assistance program for non-Federal safety projects to maintain, upgrade, and repair dams identified in the National Inventory of Dams with a primary owner type of state, local government, public utility, or private.  The program known as the Corps Water Infrastructure Financing Program (CWIFP) is authorized under Subtitle C of Title V of the Water Resources Reform and Development Act of 2014. CWIFP is also referred to as the Water Infrastructure Finance and Innovation Act of 2014 (WIFIA). CWIFP, or WIFIA, authorizes the Corps to provide secured (direct) loans and loan guarantees (Federal Credit instruments) to eligible water resources infrastructure projects and to charge fees to recover all or a portion of the Corps' costs. Division D, Title 1 of the Consolidated Appropriations Act of 2024 provided funding for projects to construct, maintain, upgrade, and repair levees and ancillary features with a primary owner type of state, municipal, county private, or other non-Federal entity. Consistent with Division D, Title 1 of the Consolidated Appropriations Act of 2024, the Corps is proposing to amend the regulation to incorporate non-Federal levee projects as eligible projects for the existing credit program.

Overall Description of Deadline: PL 119-74 stated, "That not later than 60 days after the date of enactment of this Act, the Secretary shall begin a rulemaking process to establish the process to provide financial assistance for projects to construct, maintain, upgrade, and repair levees and ancillary features with a primary owner type of State, municipal, county, private, or other non-Federal entity."