Skip Navigation

Rate for Federal Water Projects| NRCS Economics

Everything but Water Resource Projects should use OMB Circular No. A-94, Discount Rates For Cost-Effectiveness, Lease Purchase, and Related Analyses for analysis involving federal funding, or the appropriate commercial discount (interest) rate for non-federal analysis.  The 2020 OMB rate is 2.0% for all non-PL-566 watershed cost and benefit analysis. 

Here is a Quick spreadsheet of the most common indexes and discount rates updated Monthly

Fiscal Year BBC - A-47¹ SD 97 WRC1968 Principles &
Standards		 WRDA 1974
Section 80(a)		 OMB Circular
No. A-94,
10-year
Nominal Rate
        Principles & Standards
(PDF, 3.79 MB)		 WRDA 1974
Section 80(a)		 For Non-
Watershed
Work
1957 2.500%          
1958 2.500%          
1959 2.500%          
1960 2.500%          
1961 2.625%          
1962   2.625%        
1963   2.875%        
1964   3.000%        
1965   3.125%        
1966   3.125%        
1967   3.125%        
1968   3.250%        
1969   3.250% 4.625%      
1970     4.875%      
1971     5.125%      
1972     5.375%      
1973     5.500%      
1974     5.625% 6.875% 5.625%  
1975         5.875%  
1976         6.125%  
1977         6.375%  
1978         6.625%  
1979         6.875% 9.0%
1980         7.125% 10.6%
1981         7.375% 12.2%
1982         7.625% 13.3%
1983         7.875% 10.2%
1984         8.125% 10.3%
1985         8.375% 11.0%
1986         8.625% 8.9%
1987         8.875% 6.7%
1988         8.625% 8.0%
1989         8.875% 8.3%
1990         8.875% 7.7%
1991         8.750% 7.5%
1992         8.500% 7.0%
1993         8.250% 6.7%
1994         8.000% 5.7%
1995         7.750% 7.9%
1996         7.625% 5.6%
1997         7.375% 6.1%
1998         7.125% 5.9%
1999         6.875% 4.9%
2000         6.625% 6.1%
2001         6.375% 5.4%
2002         6.125% 5.1%
2003         5.875% 4.2%
2004       Federal Register (PDF, 45.5 KB) 5.625% 4.6%
2005         5.375% 4.6%
2006         5.125% 5.0%
2007       Treasury Annual Interest Rate Certification 4.875% 5.0%
2008       Treasury Annual Interest Rate Certification 4.875% 4.6%
2009       Treasury Annual Interest Rate Certification
 (limited to 1/4% annual change)		 4.625% 4.2%
2010       Treasury Annual Interest Rate Certification 4.375% 3.9%
2011       Treasury Annual Interest Rate Certification 4.125% 3.0%
2012       Treasury Annual Interest Rate Certification 4.000% 2.8%
2013       Treasury Annual Interest Rate Certification 3.75% 2.0%
2014       Treasury Annual Interest Rate Certification 3.50% 3.0%
2015       Treasury Annual Interest Rate Certification 3.375% 2.8%
2016       Treasury Annual Interest Rate Certification 3.125% 2.9%
2017       Treasury Annual Interest Rate Certification 2.875% 2.1%
2018       Treasury Annual Interest Rate Certification 2.75% 2.8%
2019       Treasury Annual Interest Rate Certification 2.875% 3.4%
2020       Treasury Annual Interest Rate Certification 2.75% 2.0%
2021       Treasury Annual Interest Rate Certification 2.50% 0.8%
2022       Treasury Annual Interest Rate Certification 2.25% 2.1%

 

Title Effective Date Expired Date
1 Budget Bureau Circular A-47 December 31, 1952 May 15, 1962
2 Senate Document 97 May 15, 1962 December 24, 1968
3 Water Resources Council December 24, 1968 October 25, 1973
4 Principles and Standards (3.79 MB) October 25, 1973 March 07, 1974
5 Water Resource Development Act of 1974, Section 80 March 07, 1974 present
NRCS National Bulletin 200-17-1 ECN - Normalized Prices and Discount Rate for FY 2018 Water Resources Planning and Evaluation December 1, 2016 present