Funding

(a) Authorization There is authorized to be appropriated for the planning, design, and construction of the Water System $602,000,000 for the period of fiscal years 2027 through 2037. (b) Cost indexing The amount authorized to be appropriated under subsection (a) may be increased or decreased in accordance with ordinary fluctuations in development costs incurred after January 1, 2024, as indicated by any available engineering cost indices applicable to construction activities that are similar to the construction of the Water System. (c) Construction costs adjustment The amount authorized to be appropriated under subsection (a) shall be adjusted to address construction cost changes necessary to account for unforeseen market volatility that may not otherwise be captured by engineering cost indices, as determined by the Secretary, including repricing applicable to the types of construction and current industry standards involved.