[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. 822 Introduced in Senate (IS)]







109th CONGRESS
  1st Session
                                 S. 822

   To prevent the retroactive application of changes to Trans-Alaska 
             Pipeline Quality Bank valuation methodologies.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             April 15, 2005

 Ms. Murkowski (for herself and Mr. Stevens) introduced the following 
bill; which was read twice and referred to the Committee on Energy and 
                           Natural Resources

_______________________________________________________________________

                                 A BILL


 
   To prevent the retroactive application of changes to Trans-Alaska 
             Pipeline Quality Bank valuation methodologies.

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

SECTION 1. DEFINITIONS.

    In this Act:
            (1) Commission.--The term ``Commission'' means the Federal 
        Energy Regulatory Commission.
            (2) TAPS quality bank valuation methodologies.--The term 
        ``TAPS quality bank valuation methodologies'' means valuation 
        methodologies applied for the purpose of establishing monetary 
        adjustments paid by or to shippers of oil on the Trans-Alaska 
        Pipeline (as authorized by the Trans-Alaska Pipeline 
        Authorization Act (43 U.S.C. 1651 et seq.) through the 
        operation of a quality bank to compensate for differentials in 
        the value of shippers' oil commingled in the pipeline.

SEC. 2. FEDERAL ENERGY REGULATORY COMMISSION REVIEW OF TRANS-ALASKA 
              PIPELINE CARRIER TARIFFS.

    Pursuant to the ratemaking authority of the Commission under 
section 60501 of title 49, United States Code, in carrying out a review 
of Trans-Alaska Pipeline carrier tariffs, the Commission shall not 
approve any retroactive application of TAPS quality bank valuation 
methodologies.

SEC. 3. EFFECTIVE DATE.

    This Act applies to orders of the Commission issued after December 
31, 2005.
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