[Congressional Record Volume 162, Number 135 (Thursday, September 8, 2016)]
[Senate]
[Page S5480]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 5002. Mr. HATCH (for himself and Mr. Lee) submitted an amendment 
intended to be proposed by him to the bill S. 2848, to provide for the 
conservation and development of water and related resources, to 
authorize the Secretary of the Army to construct various projects for 
improvements to rivers and harbors of the United States, and for other 
purposes; which was ordered to lie on the table; as follows:

       At the end of title VIII, add the following:

     SEC. 8___. PREPAYMENT OF CERTAIN REPAYMENT OBLIGATIONS UNDER 
                   CONTRACTS BETWEEN THE UNITED STATES AND THE 
                   WEBER BASIN WATER CONSERVANCY DISTRICT.

       (a) Definitions.--In this section:
       (1) Covered contract.--
       (A) In general.--The term ``covered contract'' means the 
     repayment contract numbered 14-06-400-33 between the United 
     States and the Weber Basin Water Conservancy District, dated 
     December 12, 1952, which provides for the repayment of Weber 
     Basin Project construction costs allocated to irrigation and 
     municipal and industrial purposes for which repayment is 
     provided pursuant to the contract under terms and conditions 
     similar to the terms and conditions used in implementing the 
     prepayment provisions in section 210 of the Central Utah 
     Project Completion Act (Public Law 102-575; 106 Stat. 4624).
       (B) Inclusions.--The term ``covered contract'' includes--
       (i) any amendments and supplements to the contract 
     described in subparagraph (A); and
       (ii) any applicable contracts related to the contract 
     described in subparagraph (A).
       (2) District.--The term ``District'' means the Weber Basin 
     Water Conservancy District.
       (b) Authorization of Prepayment.--The Secretary of the 
     Interior shall allow for the prepayment of Central Utah 
     Project, Bonneville Unit, repayment obligations under the 
     covered contract.
       (c) Requirements and Authorities.--The prepayment 
     authorized under subsection (b)--
       (1) shall result in the United States recovering the net 
     present value of all repayment streams that would have been 
     payable to the United States if this section was not in 
     effect;
       (2) may be provided in several installments;
       (3) may not be adjusted on the basis of the type of 
     prepayment financing used by the District; and
       (4) shall be made in a manner that provides that total 
     repayment is made not later than September 30, 2026.
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