Kansans to save $41M with Water Resources Development Act

TOPEKA, Kan. (WIBW) - The United States Congress’s passage of the reauthorization of the Water Resources Development Act (WRDA) will save Kansans more than $41 million.

Gov. Laura Kelly announced Tuesday, Jan. 14, that this is due to a provision that adjusts how interest is calculated for water storage contracts at Milford and Perry Lakes.

“These changes to the Water Resources Development Act will save Kansas taxpayers money and will enable the state to take a significant step toward securing our water quality and quantity for years to come. I commend the bipartisan effort by our Kansas lawmakers and the Kansas Water Office for their support in moving this forward. This change is a win for our state.”

Statement from Governor Laura Kelly

Gov. Kelly and the Kansas Water Office supported the change to the interest calculation provisions included in the bill.

In December 2023, Gov. Kelly sent a letter to the federal delegation advocating for the provision. The bill passed the U.S. House of Representatives and U.S. Senate with widespread bipartisan support from Kansas lawmakers such as Representative Sharice Davids and Senator Jerry Moran.

“Thanks to bipartisan legislation I helped pass, Kansas taxpayers are saving $41 million—funds that can now be reinvested into our communities. This law also provides vital resources for farmers and ranchers, helping them grow their businesses and support our economy. With added investments in Wyandotte County’s water systems, we’re ensuring reliable, affordable water for generations of Kansans to come.”

Statement from Rep. Sharice Davids (KS-03)

The measure changes how interest is calculated on the two federal water storage contracts by switching from compound interest to simple interest. Simple interest is calculated annually on the starting balance and prevents the rapid debt growth caused by compounding interest.