Summary: S.808 — 112th Congress (2011-2012)All Information (Except Text)

Bill summaries are authored by CRS.

Shown Here:
Passed Senate without amendment (11/02/2011)

(This measure has not been amended since it was introduced. The expanded summary of the Senate reported version is repeated here.)

Directs the Secretary of the Interior to allow for prepayment of a specified contract between the United States and the Uintah Water Conservancy District in Utah providing for repayment of municipal and industrial water delivery facilities under terms and conditions similar to those used in implementing provisions of the Central Utah Project Completion Act.

Provides that the prepayment: (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 Act was not in effect; (2) may be provided in several installments to reflect substantial completion of the delivery facilities being prepaid and any increase in the repayment obligation resulting from the delivery of water in addition to the water being delivered under this contract; (3) shall be adjusted to conform to a final cost allocation, including costs incurred by the Bureau of Reclamation that are allocable to the water delivered; (4) may not be adjusted based on the type of prepayment financing used by the District; and (5) shall be made such that total repayment is made by September 30, 2022.