Finish the Arkansas Valley Conduit Act

Bill: 118-s-5013
Sponsor: full_name: Sen. Bennet, Michael F. [D-CO]
Introduced: 2024-09-10
Policy area: Water Resources Development
Subjects: Colorado

Pipelines

Water resources funding

Water use and supply
Latest action: action_date: 2024-11-21
text: Placed on Senate Legislative Calendar under General Orders. Calendar No. 643.

Summaries:

tv_txt: II Calendar No. 643 118th CONGRESS 2d Session S. 5013 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.

1. Short title This Act may be cited as the Finish the Arkansas Valley Conduit Act . 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 .

1. Short title This Act may be cited as the Finish the Arkansas Valley Conduit Act . 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 .

November 21, 2024 Reported with an amendment

tv_txt: II 118th CONGRESS 2d Session S. 5013 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 A BILL To make certain modifications to the repayment for the Arkansas Valley Conduit in the State of Colorado.

1. Short title This Act may be cited as the Finish the Arkansas Valley Conduit Act . 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 .