Governor Laura Kelly announced on Tuesday that United States Congress’ passage of the reauthorization of the Water Resources Development Act (WRDA) will save Kansans more than $41 million due to a provision that adjusts how interest is calculated for water storage contracts at Milford and Perry Lakes.
In December 2023, Governor 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.
The measure changes how interest is calculated on the two federal water storage contracts by switching from compound interest to simple interest.
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