Bill Summary
The "Finish the Arkansas Valley Conduit Act" is a bill that proposes changes to the repayment process for the Arkansas Valley Conduit project in Colorado. This bill is meant to amend an existing law, Public Law 87-590, which provided funding for the project. The proposed changes include adjusting the repayment contract to account for funding from sources other than the government, as well as setting a repayment period of 75 years with a low interest rate. The bill also specifies that the contracting parties will be responsible for the maintenance and operation of the conduit. Overall, this bill aims to make modifications to the repayment process for the Arkansas Valley Conduit in order to ensure its completion and continued functioning.
Possible Impacts
1. The "Finish the Arkansas Valley Conduit Act" could affect people living in the State of Colorado by providing funding for the construction and maintenance of the Arkansas Valley Conduit, which would bring clean and reliable water to their communities.
2. The modification of the repayment for the Arkansas Valley Conduit could affect people in the State of Colorado by potentially reducing their water bills, as the repayment contract includes provisions for repayment of the conduit's cost through revenue generated from contracts for the use of excess capacity or exchange contracts.
3. The legislation could affect people working in the water industry by providing opportunities for employment and contracts for the use of excess capacity or exchange contracts using Fryingpan-Arkansas project facilities, potentially creating jobs and boosting the local economy.
[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 5013 Reported in Senate (RS)]
<DOC>
Calendar No. 643
118th CONGRESS
2d Session
S. 5013
To make certain modifications to the repayment for the Arkansas Valley
Conduit in the State of Colorado.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
September 10, 2024
Mr. Bennet (for himself and Mr. Hickenlooper) introduced the following
bill; which was read twice and referred to the Committee on Energy and
Natural Resources
November 21, 2024
Reported by Mr. Manchin, with an amendment
[Strike out all after the enacting clause and insert the part printed
in italic]
_______________________________________________________________________
A BILL
To make certain modifications to the repayment for the Arkansas Valley
Conduit in the State of Colorado.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
<DELETED>SECTION 1. SHORT TITLE.</DELETED>
<DELETED> This Act may be cited as the ``Finish the Arkansas Valley
Conduit Act''.</DELETED>
<DELETED>SEC. 2. ARKANSAS VALLEY CONDUIT, COLORADO.</DELETED>
<DELETED> Public Law 87-590 (76 Stat. 389) is amended--</DELETED>
<DELETED> (1) in subsection (c) of the first section (76
Stat. 390; 123 Stat. 1320), in the second sentence--</DELETED>
<DELETED> (A) by inserting ``, without interest,''
before ``in an amount'';</DELETED>
<DELETED> (B) by striking ``that is comprised of
revenue generated by payments'' and inserting ``, which
payment shall only consist of funding provided during
construction from any person other than the
Secretary'';</DELETED>
<DELETED> (C) by inserting ``of'' before ``revenue
that''; and</DELETED>
<DELETED> (D) by inserting ``over a period of 100
years'' after ``project facilities''; and</DELETED>
<DELETED> (2) in section 2(b)(3)(A) (76 Stat. 390; 123 Stat.
1321)--</DELETED>
<DELETED> (A) by striking ``plus interest'';
and</DELETED>
<DELETED> (B) by striking ``this section'' and
inserting ``subsection (c) of the first
section''.</DELETED>
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Finish the Arkansas Valley Conduit
Act''.
SEC. 2. ARKANSAS VALLEY CONDUIT, COLORADO.
Public Law 87-590 (76 Stat. 389; 123 Stat. 1320) is amended--
(1) in the first section--
(A) in subsection (c), in the second sentence, by
striking ``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,''; and
(B) by adding at the end the following:
``(d) Arkansas Valley Conduit.--
``(1) Repayment contract.--Notwithstanding the reclamation
laws or any other provision of this Act, the contract for the
Arkansas Valley Conduit shall provide for payment in an amount
equal to 35 percent of the cost of the conduit that consists
of--
``(A) funding provided during construction from any
entity other than the Secretary; and
``(B) repayment of the balance not covered under
subparagraph (A) for a period of not more than 75 years
with simple interest at a rate that is equal to 50
percent of the interest rate determined by the
Secretary of the Treasury under section 2(c), including
revenue derived from contracts for the use of excess
capacity or exchange contracts using Fryingpan-Arkansas
project facilities.
``(2) Operations and maintenance.--The contract for the
Arkansas Valley Conduit shall provide for the assumption by the
contracting parties of the care, operation, maintenance, and
replacement of the conduit.''; and
(2) in section 2(b)(3)(A), by striking ``this section'' and
inserting ``subsection (d) of the first section''.
Calendar No. 643
118th CONGRESS
2d Session
S. 5013
_______________________________________________________________________
A BILL
To make certain modifications to the repayment for the Arkansas Valley
Conduit in the State of Colorado.
_______________________________________________________________________
November 21, 2024
Reported with an amendment