Tennessee Valley Authority Power Privatization Act of 1993

Summary: Tennessee Valley Authority Power Privatization Act of 1993 - Directs the President to develop and transmit to the Congress a plan for transferring, by sale or otherwise, all real property, facilities, and equipment of the Tennessee Valley Authority (TVA) to appropriate public and private entities.  Requires such plan to provide for transfer of:  (1) TVA power generation facilities and equipment; (2) National Fertilizer and Environmental Research Center facilities and equipment; (3) TVA's jurisdictional authority over real property; and (4) TVA functions unrelated to power generation to appropriate Federal departments and agencies.  Terminates the TVA after the completion of such transfers.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Tennessee Valley Authority Power 
Privatization Act of 1993''.

SEC. 2. SENSE OF CONGRESS.

    It is the sense of Congress that--
            (1) the power generation and transmission facilities of the 
        Tennessee Valley Authority should be privatized; and
            (2) the transfer of all property of the Tennessee Valley 
        Authority remaining after such privatization should be made to 
        other Federal, State, and local agencies in an orderly and 
        expeditious manner.

SEC. 3. PURPOSES.

    The purposes of this Act are--
            (1) to achieve the intention of Congress set forth in 
        section 2 by requiring the President to develop a plan--
                    (A) for the sale of the power generating and 
                transmission facilities and equipment of the Tennessee 
                Valley Authority to the private sector in groupings 
                that will introduce competition into the generation and 
                sale of electric power;
                    (B) for the transfer of the National Fertilizer and 
                Environmental Research Center to a public or private 
                entity which will carry out the functions of such 
                Center;
                    (C) for the transfer to other governmental entities 
                of all property of the Tennessee Valley Authority 
                remaining after the sales and transfers described in 
                subparagraphs (A) and (B); and
                    (D) for the orderly termination of the Tennessee 
                Valley Authority after the completion of such sales and 
                transfers; and
            (2) to provide a method for reducing the national debt 
        through the use of the income derived from such sales and 
        transfers.

SEC. 4. TVA PRIVATIZATION PLAN.

    (a) In General.--Not later than September 30, 1994, the President 
shall develop and transmit to Congress a plan for transferring, by sale 
or otherwise, of all real property, facilities, and equipment of the 
Tennessee Valley Authority to appropriate public and private entities.
    (b) Contents.--The plan to be developed under subsection (a) shall 
include, at a minimum, recommendations (including legislative 
recommendations) of the President concerning each of the following:
            (1) Transfer of power facilities and equipment.--Transfer 
        by sale of the power generation and transmission facilities and 
        equipment of the Tennessee Valley Authority, including real 
        property used in connection with such facilities and equipment, 
        for the purpose of maximizing proceeds from such sales. Such 
        transfers may provide for the sale of generating equipment and 
        facilities to persons other than the persons to whom 
        transmission facilities are sold. Such transfers shall be 
        subject to the following conditions: Former customers of power 
        from the Tennessee Valley Authority will continue to be served 
        and reliability of service will be ensured by establishing 
        control areas in cooperation with surrounding control areas. 
        Such transfers may provide, to the extent practicable, for the 
        grouping of facilities utilizing different sources of power 
        (including coal-fired, nuclear, and hydroelectric generating 
        facilities) and provide for access to the transmission grids of 
        the Tennessee Valley Authority by such groupings to ensure 
        availability of power from different sources and to enhance 
        competition. All outstanding loans associated with such 
        facilities and equipment shall be assumed by the purchasers.
            (2) Transfer of national fertilizer and environmental 
        research center facilities and equipment.--Transfer by sale of 
        real property, facilities, and equipment used by the National 
        Fertilizer and Environmental Research Center of the Tennessee 
        Valley Authority to a public or private entity which agrees to 
        continue to carry out the functions of the Center for at least 
        5 years after assuming ownership. If such sale cannot be 
        arranged, such transfer may be by donation to an appropriate 
        entity subject to agreement that the functions of the Center 
        will be continued for at least 10 years.
            (3) Transfer of jurisdictional authority over real 
        property.--Transfer to appropriate governmental departments and 
        agencies, including the National Park Service, of 
        jurisdictional authority over real property which is controlled 
        by the Tennessee Valley Authority and which is not transferred 
        under paragraphs (1) and (2).
            (4) Transfer of certain functions.--Transfer to appropriate 
        Federal departments and agencies of functions of the Tennessee 
        Valley Authority which are not related to power generation.
            (5) Termination of tva.--Termination of the Tennessee 
        Valley Authority after the transfers under paragraphs (1), (2), 
        (3), and (4) have been made.
    (c) Additional Requirements.--The plan developed under subsection 
(a) shall include--
            (1) a step-by-step procedure to carry out the sales and 
        transfers described in subsection (b);
            (2) a timetable for implementation of each step of the 
        plan;
            (3) an estimate of the amount of anticipated net proceeds 
        from the sale of assets of the Tennessee Valley Authority; and
            (4) an estimate of the cost of implementing the plan.