1.This Act may be cited as the
Arkansas Valley Conduit Act of
2008
.
2.Arkansas Valley
Conduit, Colorado
(a)The first section of
Public Law 87–590 (76 Stat. 389) is amended in the second sentence of
subsection (c) by inserting after cost thereof,
the following:
or in the case of the Arkansas Valley Conduit, payment of not more than
35 percent of the cost of the conduit,
.
(b)Section
2(b) of Public Law 87–590 (76 Stat. 390) is amended—
(1)by striking
(b) Rates
and inserting the following:
(b)
(1)Rates
;
and
(2)by adding at the
end the following:
(2)Ruedi Dam and
Reservoir, Fountain Valley Pipeline, and South Outlet Works at Pueblo Dam and
ReservoirNotwithstanding the reclamation laws, until the date on
which the payments for the Arkansas Valley Conduit under paragraph (3) begin,
any revenue that may be derived from contracts for the use of
Fryingpan-Arkansas project excess capacity or exchange contracts
using Fryingpan-Arkansas project facilities shall be credited towards payment
of the actual cost of Ruedi Dam and Reservoir, the Fountain Valley Pipeline,
and the South Outlet Works at Pueblo Dam and Reservoir plus interest in an
amount determined in accordance with this section
(3)
(A)Notwithstanding the reclamation laws, any revenue derived
from contracts for the use of Fryingpan-Arkansas project excess capacity or
exchange contracts using Fryingpan-Arkansas project facilities shall be
credited towards payment of the actual cost of the Arkansas Valley Conduit plus
interest in an amount determined in accordance with this section.
(B)Any rates charged under this section for water for
municipal, domestic, or industrial use or for the use of facilities for the
storage or delivery of water shall be adjusted to reflect the estimated revenue
derived from contracts for the use of Fryingpan-Arkansas project excess
capacity or exchange contracts using Fryingpan-Arkansas project
facilities.
.
(c)Authorization of
appropriationsSection 7 of Public Law 87–590 (76 Stat. 393) is
amended—
(1)by striking
Sec. 7.
There is hereby
and inserting the following:
7.Authorization of
Appropriations
(a)There is
;
and
(2)by adding at the
end the following:
(b)
(1)Subject to annual appropriations and paragraph (2), there
are authorized to be appropriated such sums as are necessary for the
construction of the Arkansas Valley Conduit.
(2)Amounts
made available under paragraph (1) shall not be used for the operation or
maintenance of the Arkansas Valley
Conduit.
.
1.This Act may be cited as the
Arkansas Valley Conduit Act of
2008
.
2.Arkansas Valley Conduit,
Colorado
(a)The first section of
Public Law 87–590 (76 Stat. 389) is amended in the second sentence of
subsection (c) by inserting after cost thereof,
the following:
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,
.
(b)Section
2(b) of Public Law 87–590 (76 Stat. 390) is amended—
(1)by striking (b)
Rates
and inserting the following:
(b)
(1)Rates
;
and
(2)by adding at the end the
following:
(2)Ruedi Dam and
Reservoir, Fountain Valley Pipeline, and South Outlet Works at Pueblo Dam and
Reservoir
(A)Notwithstanding the reclamation laws, until the date on
which the payments for the Arkansas Valley Conduit under paragraph (3) begin,
any revenue that may be derived from contracts for the use of
Fryingpan-Arkansas project excess capacity or exchange contracts using
Fryingpan-Arkansas project facilities shall be credited towards payment of the
actual cost of Ruedi Dam and Reservoir, the Fountain Valley Pipeline, and the
South Outlet Works at Pueblo Dam and Reservoir plus interest in an amount
determined in accordance with this section.
(B)Nothing
in the Federal reclamation law (the Act of June 17, 1902 (32 Stat. 388, chapter
1093), and Acts supplemental to and amendatory of that Act (43 U.S.C. 371 et
seq.)) prohibits the concurrent crediting of revenue (with interest as provided
under this section) towards payment of the Arkansas Valley Conduit as provided
under this paragraph.
(3)
(A)Notwithstanding the reclamation laws, any revenue derived
from contracts for the use of Fryingpan-Arkansas project excess capacity or
exchange contracts using Fryingpan-Arkansas project facilities shall be
credited towards payment of the actual cost of the Arkansas Valley Conduit plus
interest in an amount determined in accordance with this section.
(B)Any rates charged under this section for water for
municipal, domestic, or industrial use or for the use of facilities for the
storage or delivery of water shall be adjusted to reflect the estimated revenue
derived from contracts for the use of Fryingpan-Arkansas project excess
capacity or exchange contracts using Fryingpan-Arkansas project
facilities.
.
(c)Authorization of
appropriationsSection 7 of Public Law 87–590 (76 Stat. 393) is
amended—
(1)by striking
Sec. 7.
There is hereby
and inserting the following:
7.Authorization of
Appropriations
(a)There is
;
and
(2)by adding at the end the
following:
(b)
(1)Subject to annual appropriations and paragraph (2), there
are authorized to be appropriated such sums as are necessary for the
construction of the Arkansas Valley Conduit.
(2)Amounts
made available under paragraph (1) shall not be used for the operation or
maintenance of the Arkansas Valley
Conduit.
.
September 16, 2008
Reported with an amendment