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that the state would have to put up. , On one project" our maximum in anyone year would be 3 million. The explanation of this, to date, has been very vague, and nobody is really sure how it would work. , I We did try to analyze the Narrows project under this formula. It appears to us that the state would have to put up 13 million dollars of the cost of the Narrows project under the present cost figures,as its share of the cost. On the face of it" this does not seem to. be a completely unfair arrangement. Many states would be able to come up with this amount without perhaps great difficulty. The state of California is a prime example, because it has, already invested several billions of dollars in joint-venture projects with .the federal government at this time. But it would cause a great deal. of difficulty in the smaller states, since the general fund is always strapped to try to meet all the state requirements. The President's policy then takes up the matter of already authorized projects of which we'have many here in Colorado. As I said, the criteria would only apply to projects authorized in the future. The catch 21 provision is, that the President will. use that same criteria in determining whether or not he will approve authorized projects. As a practical matter, he considered it impossible to change the legisla- tion on all past~projects. He considered that politically impossible. But he got ar.ound that very neatly by saying, "Okay, So I will get whipped in Congress, I will establish this as my criteria anyway. To hell with the Csmgress:" Apparently what he is saying is that even though it is no.t the law, this is the way he will prepare his budget. So to get his approval, we must come up with money for projects already authorized. The second facet of the policy is the establishment of a new Presidential project selection criteria. The policy sets forth a long list of cri- teria which his office will use in determining whether or not the proj- ects are meritorious. Again, this is irrespective of whether Congress I has authorized the project or not. The criteria bears a remarkable similarity to the, criteria used for last year's hit list. This is where the policy falls apart, because it, doesn't make any difference what the rules and the regulations and~ the law may be, The President has said that he alone will determine, not Congress, what should be approved. As we look over that criteria, the long list of things, it will not be. possible, in my opinion, to ever get a project approved under the President's criteria, even though we come up with cost-sharing. ,-14-