The House Natural Resources Committee recently held a legislative hearing on H.R. 9515, a bill introduced by Representative Ken Calvert from California's 41st district. The bill aims to support the Lower Colorado River Multi-Species Conservation Program (LCR MSCP) by establishing an interest-bearing account at the Department of Treasury. This account would hold funds contributed by Arizona, California, and Nevada for the program.
Representative Calvert explained the rationale behind his proposal: “My bill is a common-sense step that allows excess funds in the LCR MSCP to earn interest, maintain their effectiveness, and make more funds available to advance the program’s goals.” He emphasized the importance of the program in protecting natural resources in the Southwest and expressed gratitude towards Natural Resources Committee Chairman Bruce Westerman for scheduling the hearing.
The Lower Colorado River is crucial for water and power supplies across the Southwest. Authorized by Congress in 2009, the LCR MSCP involves federal, state, tribal, and local agencies working together to establish over 8,000 acres of native riparian and aquatic habitat from Lake Mead to the Mexican border. The program includes research and management efforts aimed at enhancing knowledge about local wildlife and improving habitat restoration quality. It has already seen success with stocking native fish and increasing breeding migratory bird populations within new riparian habitats.
The LCR MSCP operates on a $626 million budget over its 50-year term. Funding is shared among participants with 50% coming from federal sources, 25% from California, and 12.5% each from Arizona and Nevada. State participants are expected to pay $19.4 million for Fiscal Year 2024 as part of a total $38.8 million budget. Despite accumulating over $60 million in contributed funds due to funding outpacing expenditures, these funds currently do not earn interest or investment returns. The proposed legislation seeks to allow these contributions to generate interest similarly to other congressionally established funds within the U.S. Treasury.