S. 2616 — Introduced in Senate

II 114th CONGRESS 2d Session S. 2616 IN THE SENATE OF THE UNITED STATES March 2, 2016Mr. Gardner introduced the following bill; which was read twice and referred to the Committee on Energy and Natural Resources A BILL To modify certain cost-sharing and revenue provisions relating to the Arkansas Valley Conduit, Colorado. 1. Arkansas Valley Conduit, Colorado (a) Cost share The first section of Public Law 87–590 (76 Stat. 389, 123 Stat. 1320) is amended in the second sentence of subsection (c), by striking 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 and inserting the Arkansas Valley Conduit, for payment in an amount equal to 35 percent of the funds appropriated for the conduit that is comprised of revenue generated by payments pursuant to a repayment contract and of revenue. (b) Rates Section 2(b) of Public Law 87–590 (76 Stat. 390, 123 Stat. 1321) is amended— (1) in paragraph (2)(A)— (A) by striking until the date on which the payments for the Arkansas Valley Conduit under paragraph (3) begin,; and (B) by striking plus interest in an amount determined in accordance with this section and inserting until those costs, plus interest, have been fully repaid; and (2) in paragraph (3), by striking subparagraph (A) and inserting the following: (A) Use of revenue (i) In general Notwithstanding the reclamation laws, all revenue derived from all contracts for the use of Fryingpan-Arkansas project excess capacity or exchange contracts using Fryingpan-Arkansas project facilities shall be available to, and used by, the Secretary, without appropriation— (I) subject to paragraph (2), for the payment of costs associated with the construction of the Arkansas Valley Conduit; (II) for the payment to the Southeastern Colorado Water Conservancy District, including any enterprise established by the District in accordance with Colorado State law (collectively referred to in this subparagraph as the District) of amounts needed for the District to repay the principal and interest on loans obtained by the District from agencies of the State of Colorado for construction of the Arkansas Valley Conduit; and (III) to be credited towards repayment of the funds appropriated for the Arkansas Valley Conduit, plus interest. (ii) Agreements The Secretary shall enter into 1 or more agreements with the District that specify the distribution, in amount and timing, of the revenue described in clause (i), as between the uses described in subclauses (I), (II), and (III) of that clause. .