S.2616 - A bill to modify certain cost-sharing and revenue provisions relating to the Arkansas Valley Conduit, Colorado.114th Congress (2015-2016)
|Sponsor:||Sen. Gardner, Cory [R-CO] (Introduced 03/02/2016)|
|Committees:||Senate - Energy and Natural Resources|
|Committee Reports:||S. Rept. 114-352|
|Latest Action:||Senate - 09/15/2016 Placed on Senate Legislative Calendar under General Orders. Calendar No. 630. (All Actions)|
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Summary: S.2616 — 114th Congress (2015-2016)All Information (Except Text)
Reported to Senate without amendment (09/15/2016)
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
(Sec. 1) This bill revises cost-sharing under the contract for construction of the Arkansas Valley Conduit, Colorado, to require that payment be made in an amount equal to 35% of the funds appropriated for (currently, 35% of the cost of) the Conduit that is comprised of revenue generated by payments pursuant to a repayment contract, and of revenue that may be derived from contracts for the use of Fryingpan-Arkansas project excess capacity or exchange contracts using project facilities.
The bill requires that any revenue that may be derived from contracts for the use of project excess capacity or exchange contracts using project facilities be credited towards payment of the actual cost of the Ruedi Dam and Reservoir, the Fountain Valley Pipeline, and the South Outlet Works at Pueblo Dam and Reservoir until those costs, plus interest, have been fully repaid (currently, until the date the payments for the Conduit begin).
All such revenue shall be available to the Department of the Interior:
- for the payment of costs associated with the construction of the Conduit;
- for the payment to the Southeastern Colorado Water Conservancy District of amounts needed for the District to repay the principal and interest on loans obtained from agencies of Colorado for construction of the Conduit; and
- to be credited towards repayment of the funds appropriated for (currently, towards payment of the actual costs of) the Conduit, plus interest.
Interior shall enter into one or more agreements with the District that specify the distribution of such revenue for such uses.