Repair, restoration, and replacement of damaged facilities of electric utility companies serving low-income households

(a)

Conditions for contributions

Section 406(a) of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5172(a)) is amended— (1)in paragraph (1)— (A)in subparagraph (A) by striking and at the end; (B)in subparagraph (B) by striking the period at the end and inserting ; and; and (C)by adding at the end the following:

(C)subject to paragraph (4), to an owner or operator of a private or investor-owned electric utility company serving low-income households for the repair, restoration, reconstruction, or replacement of facilities of the owner or operator damaged or destroyed by a major disaster and for associated expenses incurred by the owner or operator.

;

(2)by redesignating paragraph (4) as paragraph (5); and (3)by inserting after paragraph (3) the following:

(4)

Conditions for assistance to private or investor-owned electric utility companies serving low-income households

(A)

In general

The President may make contributions to the owner or operator of a private or investor-owned electric utility company serving low-income households under paragraph (1)(C) only if— (i)the costs of repairing, restoring, reconstructing, or replacing its facilities damaged or destroyed by the major disaster; exceed (ii)the amount that is— (I)10 percent of the facilities’ total transmission and distribution rate base; less (II)(aa)in the case of a single major disaster, accumulated depreciation on the date of the disaster; or (bb)in the case of an aggregation under subparagraph (B), accumulated depreciation on the date of the first major disaster included in such aggregation. (B)

Aggregation for purposes of determining costs

For purposes of determining under this paragraph the costs of repairing, restoring, or replacing the facilities of an owner or operator, the costs of damage from all previous major disasters during the 12-month period preceding the date of the declaration of the major disaster for which the owner or operator is seeking contributions under paragraph (1)(C) shall be aggregated. (C)

Application deadline

An owner or operator may apply for contributions under paragraph (1)(C)— (i)in the case of a single major disaster, not later than 60 months after the date of the declaration of the disaster; or (ii)in the case of an aggregation under subparagraph (B), not later than 60 months after the date of the most recent major disaster for which the owner or operator is seeking contributions. (D)

Available funding

Subject to subparagraph (E), an owner or operator may apply for contributions under paragraph (1)(C) in the amount determined by multiplying— (i)the amount by which the costs described in subparagraph (A)(i) attributable to the owner or operator exceed the amount described in subparagraph (A)(ii) attributable to the owner or operator; by (ii)the percent of retail residential customers comprised of low-income households served by the facilities of the owner or operator. (E)

Limit on Federal assistance for disaster relief

(i)

In general

The total amount of contributions made to an owner or operator under paragraph (1)(C) may not exceed $50,000,000 in any 12-month period. (ii)

Presidential waiver

For any major disaster occurring after the date of enactment of this clause, the President may waive the limit established by clause (i) if the President determines that the event is of an extraordinary nature; except that in no case may the total amount of contributions made to an owner or operator under paragraph (1)(C) exceed 100 percent of the cost of repair, restoration, reconstruction, or replacement of the damaged facilities of the owner or operator. (F)

Approval or disapproval of applications

The President shall approve or disapprove an application for contributions submitted by an owner or operator for contributions under paragraph (1)(C) not later than 30 days after the date of receipt of the application.

(b)

Federal share

Section 406(b)(2) of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5172(b)(2)) is amended by striking public facility or private nonprofit facility and inserting public facility, private nonprofit facility, or private or investor-owned electric utility company serving low-income households. (c)

Large in-lieu contributions

Section 406(c) of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5172(c)) is amended by adding at the end the following:

(3)

For private or investor-owned electric utility companies serving low-income households

(A)

In general

In any case in which the owner or operator of a private or investor-owned electric utility company serving low-income households determines that the public welfare would not best be served by repairing, restoring, reconstructing, or replacing the facility, the owner or operator may elect to receive, in lieu of a contribution under subsection (a)(1)(C), a contribution in an amount equal to 75 percent of the available funding pursuant to subsection (a)(4)(D) or (a)(4)(E). (B)

Use of funds

Funds contributed to an owner or operator under this paragraph may be used by the owner or operator to— (i)repair, restore, or improve other private or investor-owned power facilities; (ii)construct a new private or investor-owned power facility; or (iii)fund hazard mitigation measures that the owner or operator determines to be necessary to meet a need for the services and functions of the owner or operator in the area affected by the major disaster.

(d)

Eligible Cost

Section 406(e)(1)(A) of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5172(e)(1)(A)) is amended by striking public facility or private nonprofit facility and inserting public facility, private nonprofit facility, or private or investor-owned electric utility company serving low-income households. (e)

Definitions

Section 406 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5172) is amended by adding at the end the following:

(f)

Definitions

In this section, the following definitions apply: (1)

Private or investor-owned electric utility company serving low-income households

The term private or investor-owned electric utility company serving low-income households means a privately-owned or investor-owned electric utility company in which no less than 25 percent of its retail residential customers are low-income households. (2)

Company

The term company means a corporation, partnership, association, or joint stock company. (3)

Electric utility company

The term electric utility company means any company that owns, operates, or leases facilities used for transmission or distribution of electric energy for sale. (4)

Low-income household

The term low-income household means a household with a total annual household income that does not exceed the greater of— (A)an amount equal to 150 percent of the poverty level of a State; or (B)an amount equal to 60 percent of the State median income. (5)

Poverty level

The term poverty level has the meaning given the term in section 2603 of the Low-Income Home Energy Assistance Act of 1981 (42 U.S.C. 8622). (6)

State median income

The term State median income has the meaning given the term in section 2603 of the Low-Income Home Energy Assistance Act of 1981 (42 U.S.C. 8622).