§ 404.105 - Ratemaking step 5: Project working capital fund.

§ 404.105 Ratemaking step 5: Project return on investment.

Cross Reference

Link to an amendment published at 82 FR 41496, Aug. 31, 2017.

Cross Reference

Link to a correction published at 82 FR 43864, Sept. 20, 2017.

working capital fund.

The Director calculates each pilotage association's allowed base return on investment working capital fund by adding the projected adjusted operating expenses from § 404.102 and the total target pilot compensation from § 404.104 of this part, multiplied by the preceding year's average annual rate of return for new issues of high grade corporate securities.

[USCG-2015-0497, 81 FR 11941, Mar. 7, 2016, as amended by USCG-2016-0268, 82 FR 41496, Aug. 31, 2017; 82 FR 43864, Sept. 20, 2017]