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Senate Bill 5013
118th Congress(2023-2024)
Finish the Arkansas Valley Conduit Act
Introduced
Introduced
Introduced in Senate on Sep 10, 2024
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S. 5013 (Reported-in-Senate)

Calendar No. 643

118th CONGRESS
2d Session
S. 5013


To make certain modifications to the repayment for the Arkansas Valley Conduit in the State of Colorado.

IN THE SENATE OF THE UNITED STATES

September 10, 2024

Mr. Bennet (for himself and Mr. Hickenlooper) introduced the following bill; which was read twice and referred to the Committee on Energy and Natural Resources

November 21, 2024

Reported by Mr. Manchin, with an amendment

[Strike out all after the enacting clause and insert the part printed in italic]

A BILL

To make certain modifications to the repayment for the Arkansas Valley Conduit in the State of Colorado.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Finish the Arkansas Valley Conduit Act”.

SEC. 2. Arkansas Valley Conduit, Colorado.

Public Law 87–590 (76 Stat. 389) is amended—

(1) in subsection (c) of the first section (76 Stat. 390; 123 Stat. 1320), in the second sentence—

(A) by inserting “, without interest,” before “in an amount”;

(B) by striking “that is comprised of revenue generated by payments” and inserting “, which payment shall only consist of funding provided during construction from any person other than the Secretary”;

(C) by inserting “of” before “revenue that”; and

(D) by inserting “over a period of 100 years” after “project facilities”; and

(2) in section 2(b)(3)(A) (76 Stat. 390; 123 Stat. 1321)—

(A) by striking “plus interest”; and

(B) by striking “this section” and inserting “subsection (c) of the first section”.

SECTION 1. Short title.

This Act may be cited as the “Finish the Arkansas Valley Conduit Act”.

SEC. 2. Arkansas Valley Conduit, Colorado.

Public Law 87–590 (76 Stat. 389; 123 Stat. 1320) is amended—

(1) in the first section—

(A) in subsection (c), in the second sentence, by striking “or in the case of the Arkansas Valley Conduit, payment in an amount equal to 35 percent of the cost of the conduit that is comprised of revenue generated by payments pursuant to a repayment contract and revenue that may be derived from contracts for the use of Fryingpan-Arkansas project excess capacity or exchange contracts using Fryingpan-Arkansas project facilities,”; and

(B) by adding at the end the following:

“(d) Arkansas Valley Conduit.—

“(1) REPAYMENT CONTRACT.—Notwithstanding the reclamation laws or any other provision of this Act, the contract for the Arkansas Valley Conduit shall provide for payment in an amount equal to 35 percent of the cost of the conduit that consists of—

“(A) funding provided during construction from any entity other than the Secretary; and

“(B) repayment of the balance not covered under subparagraph (A) for a period of not more than 75 years with simple interest at a rate that is equal to 50 percent of the interest rate determined by the Secretary of the Treasury under section 2(c), including revenue derived from contracts for the use of excess capacity or exchange contracts using Fryingpan-Arkansas project facilities.

“(2) OPERATIONS AND MAINTENANCE.—The contract for the Arkansas Valley Conduit shall provide for the assumption by the contracting parties of the care, operation, maintenance, and replacement of the conduit.”; and

(2) in section 2(b)(3)(A), by striking “this section” and inserting “subsection (d) of the first section”.

Calendar No. 643

118th CONGRESS
     2d Session
S. 5013
A BILL
To make certain modifications to the repayment for the Arkansas Valley Conduit in the State of Colorado.
November 21, 2024
Reported with an amendment