[Congressional Record Volume 166, Number 106 (Tuesday, June 9, 2020)]
[Senate]
[Page S2830]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
SA 1608. Ms. McSALLY (for herself, Mr. Barrasso, Mrs. Fischer, Mr.
Risch, Mrs. Feinstein, Ms. Sinema, and Mr. Crapo) submitted an
amendment intended to be proposed by her to the bill H.R. 1957, to
amend the Internal Revenue Code of 1986 to modernize and improve the
Internal Revenue Service, and for other purposes; which was ordered to
lie on the table; as follows:
At the appropriate place, insert the following:
SEC. ___. AGING INFRASTRUCTURE ACCOUNT.
Section 9603 of the Omnibus Public Land Management Act of
2009 (43 U.S.C. 510b) is amended by adding at the end the
following:
``(d) Aging Infrastructure Account.--
``(1) Establishment.--There is established in the general
fund of the Treasury a special account, to be known as the
`Aging Infrastructure Account' (referred to in this
subsection as the `Account'), to provide funds to, and
provide for the extended repayment of the funds by, a
transferred works operating entity or project beneficiary
responsible for repayment of reimbursable costs for the
conduct of extraordinary operation and maintenance work at a
project facility, which shall consist of--
``(A) any amounts that are specifically appropriated to the
Account under section 9605;
``(B) for each of fiscal years 2021 through 2025, subject
to the availability of funds, $400,000,000 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) (other than the
revenues from timber sales under that section or revenues
deposited under section 35(a) of the Mineral Leasing Act (30
U.S.C. 191(a))); and
``(C) any amounts deposited in the Account under paragraph
(3)(B).
``(2) Expenditures.--Subject to paragraph (3), the
Secretary may expend amounts in the Account to fund and
provide for extended repayment of the funds--
``(A) for each of fiscal years 2020 and 2021, for projects
that are identified by the Secretary as major repair and
replacement projects for which construction or associated
preconstruction field work is capable of being initiated
during fiscal year 2020 or 2021, as applicable; and
``(B) for fiscal year 2022 and each fiscal year thereafter,
for eligible projects identified in a report submitted under
paragraph (5)(A).
``(3) Repayment contract.--
``(A) In general.--The Secretary may not expend amounts
under paragraph (2) with respect to an eligible project
described in that paragraph unless the transferred works
operating entity or project beneficiary responsible for
repayment of reimbursable costs has entered into a contract
to repay the amounts under subsection (b)(2).
``(B) Deposit of repaid funds.--Amounts repaid by a
transferred works operating entity or project beneficiary
responsible for repayment of reimbursable costs receiving
funds under a repayment contract entered into under this
subsection shall be deposited in the Account and shall be
available to the Secretary for expenditure in accordance with
this subsection without further appropriation.
``(4) Application for funding.--
``(A) In general.--Beginning with fiscal year 2022, not
less than once per fiscal year, the Secretary shall accept,
during an application period established by the Secretary,
applications from transferred works operating entities or
project beneficiaries responsible for payment of reimbursable
costs for funds and extended repayment for eligible projects.
``(B) Eligible project.--A project eligible for funding and
extended repayment under this subsection is a project that--
``(i) qualifies as an extraordinary operation and
maintenance work under this section;
``(ii) is for the major, non-recurring maintenance of a
mission-critical asset; and
``(iii) is not eligible to be carried out or funded under
the repayment provisions of section 4(c) of the Reclamation
Safety of Dams Act of 1978 (43 U.S.C. 508(c)).
``(C) Guidelines for applications.--Not later than 60 days
after the date of enactment of this subsection, the Secretary
shall issue guidelines describing the information required to
be provided in an application for funds and extended
repayment under this subsection that require, at a minimum--
``(i) a description of the project for which the funds are
requested;
``(ii) the amount of funds requested;
``(iii) the repayment period requested by the transferred
works operating entity or project beneficiary responsible for
repayment of reimbursable costs;
``(iv) alternative non-Federal funding options that have
been evaluated;
``(v) the financial justification for requesting an
extended repayment period; and
``(vi) the financial records of the transferred works
operating entity or project beneficiary responsible for
repayment of reimbursable costs.
``(D) Review by the secretary.--The Secretary shall review
each application submitted under subparagraph (A)--
``(i) to determine whether the project is eligible for
funds and an extended repayment period under this subsection;
``(ii) to determine if the project has been identified by
the Bureau of Reclamation as part of the major rehabilitation
and replacement of a project facility; and
``(iii) to conduct a financial analysis of--
``(I) the project; and
``(II) the transferred works operating entity or project
beneficiary responsible for repayment of reimbursable costs.
``(5) Report.--Not later than 90 days after the date on
which an application period closes under paragraph (4)(A),
the Secretary shall submit to the Committees on Energy and
Natural Resources and Appropriations of the Senate and the
Committees on Natural Resources and Appropriations of the
House of Representatives a report that--
``(A) identifies each project eligible for funds and
extended repayment under this subsection;
``(B) with respect to each eligible project identified
under subparagraph (A), includes--
``(i) a description of--
``(I) the eligible project;
``(II) the anticipated cost and duration of the eligible
project; and
``(III) any remaining engineering or environmental
compliance that is required before the eligible project
commences;
``(ii) an analysis of--
``(I) the repayment period proposed in the application; and
``(II) if the Secretary recommends a minimum necessary
repayment period that is different than the repayment period
proposed in the application, the minimum necessary repayment
period recommended by the Secretary; and
``(iii) an analysis of alternative non-Federal funding
options; and
``(C) describes the balance of funds in the Account as of
the date of the report.
``(6) Effect of subsection.--Nothing in this subsection
affects--
``(A) any funding provided, or contracts entered into,
under subsection (a) before the date of enactment of this
subsection; or
``(B) the use of funds otherwise made available to the
Secretary to carry out subsection (a).''.
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