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The FY15 budget outlines a projected $1.2 billion for the Harbor Maintenance Trust Fund (HMTF), reflecting a 67% contribution from FY13 revenues. The budget anticipates a 2-4% annual increase through FY24, with full revenue plus interest expected by FY25. Key highlights include a $250 million allocation for priority funds, emphasizing an equitable distribution, with at least 10% directed to emerging harbors and funded projects across various categories such as berth dredging and environmental remediation. The policy aims to support both high-use and underserved ports.
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WRRDA Section 2102, HMT Target Budget Resources, FY15: $1.2 B (est) 67% of FY13 HMT revenues ($1.8B est); Increases 2-4% per year through FY24; Full HMT revenues + interest in FY25 Additional Measures at Donor & Energy Transfer Ports, $50 M Separate Appropriation not from HMTF (Section 2106) Priority Funds: $250 M ($1.2 B - $950 M = $250 M) Not from other Corps business lines Baseline: $950 M FY12 HMT Appropriation Equitable Distribution with at least 10% to Emerging Harbors Emerging Harbors 10% ($25 M) High & Moderate Use Projects 90% ($225 M) Equitable distribution: Not solely tonnage, include National and regional significance, national security and military readiness Expanded Uses Min. 10% ($25 M) For Berth Dredging, Contaminated Sediment, and Environmental Remediation Great Lakes Min. 10% ($25 M) Under Served Min. 5% ($12.5 M) High Use: Over 10 M tons per year Moderate Use: 1-10 M tons per year Emerging harbors: Less than 1 M tons per year Under served: Commerce level as well as ratio of funding received versus full channel maintenance needs. Priority Funds for projects that can be included in more than one category can be credited to each category Expanded Use eligible: Harbor received less HMT dredging that its revenues over last 3 years; Priority for larger donors. May 20, 2014
