S. 2848 would authorize the U.S. Army Corps of Engineers (Corps) to construct projects to mitigate storm and hurricane damage, to improve navigation and flood management, and to assist state and local governments with safety programs for dams and levees. The bill also would authorize the Environmental Protection Agency (EPA) to provide grants and loans to state and local governments, public water systems, and nonprofit organizations to support a wide range of water quality projects and programs.
CBO estimates, that implementing this legislation would cost about $4.8 billion over the next five years and $10.6 billion over the 2017-2026 period, assuming appropriation of the authorized and necessary amounts.
Revised version:
https://www.cbo.gov/sites/default/files/114th-congress-2015-2016/costestimate/s2848revised.pdf