Reclamation rural water construction fund

(a)

Establishment

There is established in the Treasury of the United States a fund, to be known as the Reclamation Rural Water Construction Fund, consisting of— (1)such amounts as are deposited in the Fund under subsection (b); and (2)any interest earned on investment of amounts in the Fund under subsection (d). (b)

Deposits to fund

(1)

In general

For each of fiscal years 2014 through 2030, the Secretary of the Treasury shall deposit in the Fund $80,000,000 of the revenues that would otherwise be deposited for the fiscal year in the reclamation fund established by the first section of the Act of June 17, 1902 (32 Stat. 388, chapter 1093). (2)

Availability of amounts

Amounts deposited in the Fund under paragraph (1) shall— (A)be available in accordance with this section, without further appropriation; and (B)be in addition to amounts appropriated for such purposes under any other provision of law. (3)

Limitation

Notwithstanding paragraphs (1) and (2), no amounts may be deposited in, or made available from, the Fund under those paragraphs if the transfer or availability of the amounts would increase the deficit. (c)

Expenditures from fund

(1)

In general

(A)

Expenditures

Subject to subparagraph (B), for each of fiscal years 2014 through 2035, the Secretary may expend from the Fund not more than the sum of— (i)$80,000,000; and (ii)the amount of interest accrued in the Fund for the fiscal year in which the expenditures are made. (B)

Additional expenditures

Notwithstanding subparagraph (A), the Secretary may expend more than $80,000,000 for any fiscal year listed in subparagraph (A) if such amounts are available in the Fund due to expenditures not reaching $80,000,000 in 1 or more prior fiscal years. (2)

Use

(A)

In general

Subject to subparagraph (B), the Secretary may use amounts from the Fund to complete construction of rural water projects— (i)authorized to be carried out by the Secretary on or before the date of enactment of this Act; or (ii)for which— (I)pursuant to section 106(e) of the Rural Water Supply Act of 2006 (43 U.S.C. 2405(e)), a feasibility study has been submitted to the Secretary by September 30, 2012; and (II)an Act of Congress after the date of enactment of this Act has authorized the construction of the project. (B)

Limitation

The Secretary may not use amounts from the Fund to pay for any operation and maintenance costs of an authorized rural water project. (3)

Conditions

The Secretary shall not expend any amounts from the Fund until the date on which the Secretary develops— (A)programmatic goals to carry out this section that— (i)would enable the completion of construction of the authorized rural water projects as expeditiously as possible; and (ii)reflect— (I)the goals and priorities identified in the laws authorizing the authorized rural water projects; and (II)the goals of the Reclamation Rural Water Supply Act of 2006 (43 U.S.C. 2401 et seq.); and (B)funding prioritization criteria to serve as a formula for distributing funds under this section that take into account— (i)an evaluation of the urgent and compelling need for potable water supplies in the affected rural and tribal communities; (ii)the status of the current stages of completion of the authorized rural water project; (iii)the financial needs of the affected rural and tribal communities; (iv)the potential economic benefits of the expenditures on job creation and general economic development in the affected rural and tribal communities; (v)the ability of the authorized rural water project to address regional and watershed level water supply needs; (vi)the ability of the authorized rural water project— (I)to minimize water and energy consumption; and (II)to encourage the development of renewable energy resources, such as wind, solar, and hydropower elements; (vii)the need for the authorized rural water project to address— (I)the needs of Indian tribes and members of Indian tribes; and (II)other community needs or interests; and (viii)such other factors as the Secretary determines to be appropriate to prioritize the use of available funds. (d)

Investments of amounts

(1)

In general

The Secretary shall invest such portion of the Fund as is not, in the judgment of the Secretary, required to meet current withdrawals. (2)

Credits to fund

The interest on, and the proceeds from the sale or redemption of, any obligations held in the Fund shall be credited to, and form a part of, the Fund. (e)

Transfers of amounts

(1)

In general

The amounts required to be transferred to the Fund under this section shall be transferred at least monthly from the general fund of the Treasury to the Fund on the basis of estimates made by the Secretary of the Treasury. (2)

Adjustments

Proper adjustment shall be made in amounts subsequently transferred to the extent prior estimates were in excess of or less than the amounts required to be transferred. (f)

Termination

On September 30, 2035— (1)the Fund shall terminate; and (2)the unexpended and unobligated balance of the Fund shall be transferred to the reclamation fund established by the first section of the Act of June 17, 1902 (32 Stat. 388, chapter 1093).