16 U.S.C. § 838i — Bonneville Power Administration fund

Page 1512 TITLE 16—CONSERVATION § 838g transferred to Secretary of Energy by section 7152(a)(1)(E), (3) of Title 42, and are to be exercised by Secretary through a separate Administration within Department of Energy. § 838g. Schedules of rates and charges for sale of Federal power and transmission of non-Fed- eral power; confirmation and approval; cri- teria for modification and establishment Schedules of rates and charges for the sale, in- cluding dispositions to Federal agencies, of all electric power made available to the Adminis- trator pursuant to section 838f of this title or otherwise acquired, and for the transmission of non-Federal electric power over the Federal transmission system, shall become effective upon confirmation and approval thereof by the Secretary of Energy. Such rate schedules may be modified from time to time by the Secretary of Energy, acting by and through the Adminis- trator, subject to confirmation and approval by the Secretary of Energy, and shall be fixed and established (1) with a view to encouraging the widest possible diversified use of electric power at the lowest possible rates to consumers con- sistent with sound business principles, (2) hav- ing regard to the recovery (upon the basis of the application of such rate schedules to the capac- ity of the electric facilities of the projects) of the cost of producing and transmitting such electric power, including the amortization of the capital investment allocated to power over a reasonable period of years and payments pro- vided for in section 838i(b)(9) of this title, and (3) at levels to produce such additional revenues as may be required, in the aggregate with all other revenues of the Administrator, to pay when due the principal of, premiums, discounts, and ex- penses in connection with the issuance of and interest on all bonds issued and outstanding pur- suant to this chapter, and amounts required to establish and maintain reserve and other funds and accounts established in connection there- with. (Pub. L. 93–454, § 9, Oct. 18, 1974, 88 Stat. 1377; Pub. L. 95–91, title III, §§ 301(b), 302(a)(1)(D), Aug. 4, 1977, 91 Stat. 578.) Statutory Notes and Related Subsidiaries TRANSFER OF FUNCTIONS ‘‘Secretary of Energy’’ substituted in text for ‘‘Sec- retary of the Interior’’ and ‘‘Federal Power Commis- sion’’ pursuant to Pub. L. 95–91, §§ 301(b), 302(a)(1)(D), which are classified to sections 7151(b) and 7152(a)(1)(D) of Title 42, The Public Health and Welfare. The Federal Power Commission was terminated, and its functions, personnel, property, funds, etc., were transferred to the Secretary of Energy (except for cer- tain functions which were transferred to the Federal Energy Regulatory Commission) by sections 7151(b), 7171(a), 7172(a), 7291, and 7293 of Title 42. Functions of Secretary of the Interior with respect to Bonneville Power Administration transferred to Sec- retary of Energy by section 7152(a)(1)(D), (2) of Title 42, with Bonneville Power Administration to be preserved as a distinct organizational entity within Department of Energy and headed by an Administrator. § 838h. Uniform schedules of rates and charges for sale of Federal power and transmission of non-Federal power; allocation of cost recov- ery The said schedules of rates and charges for transmission, the said schedules of rates and charges for the sale of electric power, or both such schedules, may provide, among other things, for uniform rates or rates uniform throughout prescribed transmission areas. The recovery of the cost of the Federal transmission system shall be equitably allocated between Federal and non-Federal power utilizing such system. (Pub. L. 93–454, § 10, Oct. 18, 1974, 88 Stat. 1378.) § 838i. Bonneville Power Administration fund (a) Establishment; composition; availability of transferred funds for expenditures There is hereby established in the Treasury of the United States a Bonneville Power Adminis- tration fund (hereinafter referred to as the ‘‘fund’’). The fund shall consist of (1) all re- ceipts, collections, and recoveries of the Admin- istrator in cash from all sources, including trust funds, (2) all proceeds derived from the sale of bonds by the Administrator, (3) any appropria- tions made by the Congress for the fund, and (4) the following funds which are hereby transferred to the Administrator: (i) all moneys in the spe- cial account in the Treasury established pursu- ant to Executive Order Numbered 8526 dated Au- gust 26, 1940, (ii) the unexpended balances in the continuing fund established by the provisions of section 832j of this title, and (iii) the unexpended balances of funds appropriated or otherwise made available for the Bonneville Power Admin- istration. All funds transferred hereunder shall be available for expenditure by the Secretary of Energy, acting by and through the Adminis- trator, as authorized in this chapter and any other Act relating to the Federal Columbia River transmission system, subject to such limi- tations as may be prescribed by any applicable appropriation act effective during such period as may elapse between their transfer and the ap- proval by the Congress of the first subsequent annual budget program of the Administrator. (b) Authorized purposes of expenditures The Administrator may make expenditures from the fund, which shall have been included in his annual budget submitted to Congress, with- out further appropriation and without fiscal year limitation, but within such specific direc- tives or limitations as may be included in appro- priation acts, for any purpose necessary or ap- propriate to carry out the duties imposed upon the Administrator pursuant to law, including but not limited to— (1) construction, acquisition, and replace- ment of (i) the transmission system, including facilities and structures appurtenant thereto, and (ii) additions, improvements, and better- ments thereto (hereinafter in this chapter re- ferred to as ‘‘transmission system’’); (2) operation, maintenance, repair, and relo- cation, to the extent such relocation is not provided for under subsection (1) above, of the transmission system; Page 1513 TITLE 16—CONSERVATION § 838i 1 So in original. The word ‘‘or’’ probably should not appear. 2 See References in Text note below. (3) electrical research, development, experi- mentation, test, and investigation related to construction, operation, and maintenance of transmission systems and facilities; (4) marketing of electric power; (5) transmission over facilities of others and rental, lease, or lease-purchase of facilities; (6) purchase of electric power (including the entitlement of electric plant capability) (i) on a short-term basis to meet temporary defi- ciencies in electric power which the Adminis- trator is obligated by contract to supply, or 1 (ii) if such purchase has been heretofore au- thorized or is made with funds expressly ap- propriated for such purchase by the Congress, (iii) if to be paid for with funds provided by other entities for such purpose under a trust or agency arrangement, or (iv) on a short term basis to meet the Administrator’s obligations under section 4(h) of the Pacific Northwest Electric Power Planning and Conservation Act [16 U.S.C. 839b(h)]; (7) defraying emergency expenses or insuring continuous operation; (8) paying the interest on, premiums, dis- counts, and expenses, if any, in connection with the issuance of, and principal of all bonds issued under section 838k(a) of this title, in- cluding provision for and maintenance of re- serve and other funds established in connec- tion therewith; (9) making such payments to the credit of the reclamation fund or other funds as are re- quired by or pursuant to law to be made into such funds in connection with reclamation projects in the Pacific Northwest: Provided, That this clause shall not be construed as per- mitting the use of revenues for repayment of costs allocated to irrigation at any project ex- cept as otherwise expressly authorized by law; (10) making payments to the credit of mis- cellaneous receipts of the Treasury for all un- paid costs required by or pursuant to law to be charged to and returned to the general fund of the Treasury for the repayment of the Federal investment in the Federal Columbia River Power System from electric power marketed by the Administrator; (11) acquiring such goods and services, and paying dues and membership fees in such pro- fessional, utility, industry, and other soci- eties, associations, and institutes, together with expenses related to such memberships, including but not limited to the acquisitions and payments set forth in the general provi- sions of the annual appropriations Act for the Department of Energy, as the Administrator determines to be necessary or appropriate in carrying out the purposes of this chapter; and (12) making such payments, as shall be re- quired to carry out the purposes and provi- sions of the Pacific Northwest Electric Power Planning and Conservation Act [16 U.S.C. 839 et seq.]. (c) Restriction on use of expenditures to author- ized purposes; expenditures of moneys re- ceived in trust; applicability of provisions re- lating to control of Government corporations Moneys heretofore or hereafter appropriated shall be used only for the purposes for which ap- propriated, and moneys received by the Admin- istrator in trust shall be used only for carrying out such trust. The provisions of chapter 91 of title 31 shall be applicable to the Administrator in the same manner as they are applied to the wholly owned Government corporations named in section 9101 of title 31, but nothing in section 9105(d) 2 of title 31 shall be construed as affecting the powers granted in subsection (b)(11) of this section and in sections 832a(f), 832i(b), and 832k(a) of this title. (d) Audit of financial transactions by Comp- troller General; report to Congress Notwithstanding the provisions of sections 9105 and 9106 of title 31, the financial trans- actions of the Administrator shall be audited by the Comptroller General at such times and to such extent as the Comptroller General deems necessary, and reports of the results of each such audit shall be made to the Congress within 61⁄2 months following the end of the fiscal year covered by the audit. (Pub. L. 93–454, § 11, Oct. 18, 1974, 88 Stat. 1378; Pub. L. 95–91, title III, § 302(a)(1)(D), Aug. 4, 1977, 91 Stat. 578; Pub. L. 96–501, § 8(a), (b), Dec. 5, 1980, 94 Stat. 2728.) Editorial Notes REFERENCES IN TEXT Executive Order Numbered 8526 dated August 26, 1940, referred to in subsec. (a), is not classified to the Code. The Pacific Northwest Electric Power Planning and Conservation Act, referred to in subsec. (b)(12), is Pub. L. 96–501, Dec. 5, 1980, 94 Stat. 2697, which is classified principally to chapter 12H (§ 839 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 839 of this title and Tables. Section 9105 of title 31, referred to in subsec. (c), was amended generally by Pub. L. 101–576, title III, § 305, Nov. 15, 1990, 104 Stat. 2853, and, as so amended, does not contain a subsec. (d). CODIFICATION In subsec. (c), ‘‘chapter 91 of title 31’’, ‘‘section 9101 of title 31’’, and ‘‘section 9105(d) of title 31’’ substituted for ‘‘the Government Corporation Control Act (31 U.S.C. 841 et seq.)’’, ‘‘section 101 of such Act (31 U.S.C. 846)’’, and ‘‘the proviso in section 850 of title 31, United States Code,’’, respectively, on authority of Pub. L. 97–258, § 4(b), Sept. 13, 1982, 96 Stat. 1067, the first sec- tion of which enacted Title 31, Money and Finance. In subsec. (d), ‘‘sections 9105 and 9106 of title 31’’ sub- stituted for ‘‘sections 105 and 106 of the Government Corporation Control Act [31 U.S.C. 850, 851]’’ on author- ity of Pub. L. 97–258, § 4(b), Sept. 13, 1982, 96 Stat. 1067, the first section of which enacted Title 31. AMENDMENTS 1980—Subsec. (b)(6)(iv). Pub. L. 96–501, § 8(a), added cl. (iv). Subsec. (b)(12). Pub. L. 96–501, § 8(b), added par. (12). Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1980 AMENDMENT Amendment by Pub. L. 96–501 effective Dec. 5, 1980, see section 11 of Pub. L. 96–501, set out as an Effective Date note under section 839 of this title. TRANSFER OF FUNCTIONS ‘‘Secretary of Energy’’ substituted for ‘‘Secretary of the Interior’’ in subsec. (a) and ‘‘Department of En- Page 1514 TITLE 16—CONSERVATION § 838j ergy’’ substituted for ‘‘Department of Interior’’ in sub- sec. (b)(11) pursuant to Pub. L. 95–91, § 302(a)(1)(D), which is classified to section 7152(a)(1)(D) of Title 42, The Public Health and Welfare. Functions of Secretary of the Interior with respect to Bonneville Power Administration transferred to Sec- retary of Energy by section 7152(a)(1)(D), (2) of Title 42, with Bonneville Power Administration to be preserved as a distinct organizational entity within Department of Energy and headed by an Administrator. BONNEVILLE POWER ADMINISTRATION FUND: STATE CLEAN ENERGY PROGRAMS Pub. L. 116–94, div. C, title III, Dec. 20, 2019, 133 Stat. 2675, provided in part that: ‘‘Expenditures from the Bonneville Power Administration Fund, established pursuant to Public Law 93–454 are authorized and ap- proved, without fiscal year limitation, for the cost of current and future year purchases or payments of emis- sions expenses associated with Bonneville Power Ad- ministration power and transmission operations in states with clean energy programs: Provided further, This expenditure authorization is limited solely to Bonneville Power Administration’s voluntary purchase or payments made in conjunction with state clean en- ergy programs and is not a broader waiver of Bonne- ville Power Administration’s sovereign immunity.’’ AUTHORITY TO INCUR OBLIGATIONS IN EXCESS OF BORROWING AUTHORITY AND CASH IN FUND Pub. L. 100–371, title III, July 19, 1988, 102 Stat. 869, provided that: ‘‘Without fiscal year limitation, the Bonneville Power Administration continues to be au- thorized to incur obligations for authorized purposes and may do so in excess of borrowing authority and cash in the Bonneville Power Administration Fund.’’ § 838j. Investment of excess moneys; deposit of moneys (a) If the Administrator determines that mon- eys in the fund are in excess of current needs he may request the investment of such amounts as he deems advisable by the Secretary of the Treasury in direct, general obligations of, or ob- ligations guaranteed as to both principal and in- terest by, the United States of America. (b) With the approval of the Secretary of the Treasury, the Administrator may deposit mon- eys of the fund in any Federal Reserve bank or other depository for funds of the United States of America, or in such other banks and financial institutions and under such terms and condi- tions as the Administrator and the Secretary of the Treasury may mutually agree. (Pub. L. 93–454, § 12, Oct. 18, 1974, 88 Stat. 1380.) § 838k. Bonneville Power Administration bonds (a) Issuance and sale; terms and conditions; in- terest rate; limitation on aggregate principal amount outstanding The Administrator is authorized to issue and sell to the Secretary of the Treasury from time to time in the name and for and on behalf of the Bonneville Power Administration bonds, notes, and other evidences of indebtedness (in this chapter collectively referred to as ‘‘bonds’’) to assist in financing the construction, acquisition, and replacement of the transmission system, to implement the Administrator’s authority pursu- ant to the Pacific Northwest Electric Power Planning and Conservation Act [16 U.S.C. 839 et seq.] (including his authority to provide finan- cial assistance for conservation measures, re- newable resources, and fish and wildlife, but not including the authority to acquire under section 6 of that Act [16 U.S.C. 839d] electric power from a generating facility having a planned capa- bility greater than 50 average megawatts), and to issue and sell bonds to refund such bonds. Such bonds shall be in such forms and denomi- nations, bear such maturities, and be subject to such terms and conditions as may be prescribed by the Secretary of the Treasury taking into ac- count terms and conditions prevailing in the market for similar bonds, the useful life of the facilities for which the bonds are issued, and fi- nancing practices of the utility industry. Re- funding provisions may be prescribed by the Ad- ministrator. Such bonds shall bear interest at a rate determined by the Secretary of the Treas- ury taking into consideration the current aver- age market yield on outstanding marketable ob- ligations of the United States of comparable ma- turities, plus an amount in the judgment of the Secretary of the Treasury to provide for a rate comparable to the rates prevailing in the mar- ket for similar bonds issued by Government cor- porations. Beginning in fiscal year 1982, if the Administrator fails to repay by the end of any fiscal year all of the amounts projected imme- diately prior to such year to be repaid to the Treasury by the end of such year under the re- payment criteria of the Secretary of Energy and if such failure is due to reasons other than (A) a decrease in power sale revenues due to fluc- tuating streamflows or (B) other reasons beyond the control of the Administrator, the Secretary of the Treasury may increase the interest rate applicable to the outstanding bonds issued by the Administrator during such fiscal year. Such increase shall be effective commencing with the fiscal year immediately following the fiscal year during which such failure occurred and shall not exceed 1 per centum for each such fiscal year during which such repayments are not in accord with such criteria. The Secretary of the Treas- ury shall take into account amounts that the Administrator has repaid in advance of any re- payment criteria in determining whether to in- crease such rate. Before such rate is increased, the Secretary of the Treasury, in consultation with the Administrator and the Federal Energy Regulatory Commission, must be satisfied that the Administrator will have the ability to pay such increased rate, taking into account the Ad- ministrator’s obligations. Such increase shall terminate with the fiscal year in which repay- ments (including repayments of the increased rate) are in accordance with the repayment cri- teria of the Secretary of Energy. The aggregate principal amount of any such bonds outstanding at any one time shall not exceed $1,250,000,000 prior to October 1, 1981. Such aggregate prin- cipal limitation shall be increased by an addi- tional $1,250,000,000 after October 1, 1981, as pro- vided in advance in annual appropriation Acts, and such increased amount shall be reserved for the purpose of providing funds for conservation and renewable resource loans and grants in a special revolving account created therefor in the Fund. The funds from such revolving account shall not be deemed State or local funds.