INLAND WATERWAY PROJECTS.

SEC. 8157. INLAND WATERWAY PROJECTS. (a) In General.—Section 102(a) of the Water Resources Development Act of 1986 (33 U.S.C. 2212(a)) is amended— (1) in the matter preceding paragraph (1), by striking “One-half of the costs” and inserting “65 percent of the costs”; and (2) in the undesignated matter following paragraph (3), in the second sentence, by striking “One-half of such costs” and inserting “35 percent of such costs”. (b) [33 U.S.C. 2212 note] Application.—The amendments made by subsection (a) shall apply beginning on October 1, 2022, to any construction of a project for navigation on the inland waterways that is new or ongoing on or after that date. (c) Conforming Amendment.—Section 109 of the Water Resources Development Act of 2020 (33 U.S.C. 2212 note) is amended by striking “fiscal years 2021 through 2031” and inserting “fiscal years 2021 through 2022”.