16 U.S.C. § 838m — Power marketing administration trans-

Page 1517 TITLE 16—CONSERVATION § 838m 1 So in original. Probably should be ‘‘section;’’ or ‘‘section’’. (h) Omitted (i) Contract provisions In each contract of the Administrator that provides for the Administrator to sell electric power, transmission, or related services, and that is in effect after September 30, 1996, the Ad- ministrator shall offer to include, or as the case may be, shall offer to amend to include, provi- sions specifying that after September 30, 1996— (1) the Administrator shall establish rates and charges on the basis that— (A) the principal amount of an old capital investment shall be no greater than the new principal amount established under sub- section (b); (B) the interest rate applicable to the un- paid balance of the new principal amount of an old capital investment shall be no greater than the interest rate established under sub- section (c); (C) any payment of principal of an old cap- ital investment shall reduce the outstanding principal balance of the old capital invest- ment in the amount of the payment at the time the payment is tendered; and (D) any payment of interest on the unpaid balance of the new principal amount of an old capital investment shall be a credit against the appropriate interest account in the amount of the payment at the time the payment is tendered; (2) apart from charges necessary to repay the new principal amount of an old capital in- vestment as established under subsection (b) and to pay the interest on the principal amount under subsection (c), no amount may be charged for return to the United States Treasury as repayment for or return on an old capital investment, whether by way of rate, rent, lease payment, assessment, user charge, or any other fee; (3) amounts provided under section 1304 of title 31 shall be available to pay, and shall be the sole source for payment of, a judgment against or settlement by the Administrator or the United States on a claim for a breach of the contract provisions required by this Part; 1 and (4) the contract provisions specified in this Part 1 do not— (A) preclude the Administrator from re- covering, through rates or other means, any tax that is generally imposed on electric utilities in the United States, or (B) affect the Administrator’s authority under applicable law, including section 839e(g) of this title, to— (i) allocate costs and benefits, including but not limited to fish and wildlife costs, to rates or resources, or (ii) design rates. (j) Savings provisions (1) Repayment This section does not affect the obligation of the Administrator to repay the principal asso- ciated with each capital investment, and to pay interest on the principal, only from the ‘‘Administrator’s net proceeds,’’ as defined in section 838k(b) of this title. (2) Payment of capital investment Except as provided in subsection (e), this section does not affect the authority of the Administrator to pay all or a portion of the principal amount associated with a capital in- vestment before the repayment date for the principal amount. (Pub. L. 104–134, title III, § 3201, Apr. 26, 1996, 110 Stat. 1321–350.) Editorial Notes CODIFICATION Section was enacted as part of the Omnibus Consoli- dated Rescissions and Appropriations Act of 1996, and not as part of the Federal Columbia River Trans- mission System Act which comprises this chapter. Section is comprised of section 3201 of Pub. L. 104–134. Subsec. (h) of section 3201 of Pub. L. 104–134 amended section 6 of Pub. L. 103–436, which is not classified to the Code. § 838m. Power marketing administration trans- mission borrowing authority (a) Borrowing authority (1) In general Subject to paragraph (2), for the purposes of providing funds to assist in the financing of the construction, acquisition, and replacement of the Federal Columbia River Power System and to implement the authority of the Admin- istrator of the Bonneville Power Administra- tion (referred to in this section as the ‘‘Ad- ministrator’’) under the Pacific Northwest Electric Power Planning and Conservation Act (16 U.S.C. 839 et seq.), an additional $10,000,000,000 in borrowing authority is made available under the Federal Columbia River Transmission System Act (16 U.S.C. 838 et seq.), to remain outstanding at any 1 time. (2) Limitation The obligation of additional borrowing au- thority under paragraph (1) shall not exceed $6,000,000,000 by fiscal year 2028. (b) Financial plan (1) In general The Administrator shall issue an updated fi- nancial plan by the end of fiscal year 2022. (2) Requirement As part of the process of issuing an updated financial plan under paragraph (1), the Admin- istrator shall— (A) consistent with asset management planning and sound business principles, con- sider projected and planned use and alloca- tion of the borrowing authority of the Ad- ministrator across the mission responsibil- ities of the Bonneville Power Administra- tion; and (B) before issuing the final updated finan- cial plan— (i) engage, in a manner determined by the Administrator, with customers with respect to a draft of the updated plan; and Page 1518 TITLE 16—CONSERVATION § 838n (ii) consider as a relevant factor any rec- ommendations from customers regarding prioritization of asset investments. (c) Stakeholder engagement The Administrator shall— (1) engage, in a manner determined by the Administrator, with customers and stake- holders with respect to the financial and cost management efforts of the Administrator through periodic program reviews; and (2) to the maximum extent practicable, im- plement those policies that would be expected to be consistent with the lowest possible power and transmission rates consistent with sound business principles. (d) Repayment Any additional Treasury borrowing authority received under this section shall be fully repaid to the Treasury in a manner consistent with the applicable self-financed Federal budget ac- counts. (Pub. L. 117–58, div. D, title I, § 40110, Nov. 15, 2021, 135 Stat. 945.) Editorial Notes REFERENCES IN TEXT The Pacific Northwest Electric Power Planning and Conservation Act, referred to in subsec. (a)(1), 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. The Federal Columbia River Transmission System Act, referred to in subsec. (a)(1), is Pub. L. 93–454, Oct. 18, 1974, 88 Stat. 1376, which is classified generally to this chapter. For complete classification of this Act to the Code, see Short Title note set out under section 838 of this title and Tables. CODIFICATION Section was enacted as part of the Infrastructure In- vestment and Jobs Act, and not as part of the Federal Columbia River Transmission System Act which com- prises this chapter. Statutory Notes and Related Subsidiaries WAGE RATE REQUIREMENTS For provisions relating to rates of wages to be paid to laborers and mechanics on projects for construction, alteration, or repair work funded under div. D or an amendment by div. D of Pub. L. 117–58, including au- thority of Secretary of Labor, see section 18851 of Title 42, The Public Health and Welfare. § 838n. Columbia Basin power management (a) Definitions In this section: (1) Account The term ‘‘Account’’ means the account es- tablished by subsection (b)(1). (2) Administrator The term ‘‘Administrator’’ means the Ad- ministrator of the Bonneville Power Adminis- tration. (3) Canadian Entitlement The term ‘‘Canadian Entitlement’’ means the downstream power benefits that Canada is entitled to under Article V of the Treaty Re- lating to Cooperative Development of the Water Resources of the Columbia River Basin, signed at Washington January 17, 1961 (15 UST 1555; TIAS 5638). (b) Transmission coordination and expansion (1) Establishment There is established in the Treasury an ac- count for the purposes of making expenditures to increase bilateral transfers of renewable electric generation between the western United States and Canada. (2) Criteria (A) In general The Administrator may make expendi- tures from the Account for activities to im- prove electric power system coordination by constructing electric power transmission fa- cilities within the western United States that directly or indirectly facilitate non-car- bon emitting electric power transactions be- tween the western United States and Can- ada. (B) Application Subparagraph (A) shall be effective after the later of— (i) September 16, 2024; and (ii) the date on which the Canadian enti- tlement value calculation is terminated or reduced to the actual electric power value to the United States, as determined by the Administrator. (3) Consultation The Administrator shall consult with rel- evant electric utilities in Canada and appro- priate regional transmission planning organi- zations in considering the construction of transmission activities under this subsection. (4) Authorization There is authorized to be appropriated to the Account a nonreimburseable amount equal to the aggregated amount of the Canadian Enti- tlement during the 5-year period preceding No- vember 15, 2021. (c) Increased hydroelectric capacity (1) In general The Commissioner of Reclamation shall re- habilitate and enhance the John W. Keys III Pump Generating Plant— (A) to replace obsolete equipment; (B) to maintain reliability and improve ef- ficiency in system performance and oper- ation; (C) to create more hydroelectric power ca- pacity in the Pacific Northwest; and (D) to ensure the availability of water for irrigation in the event that Columbia River water flows from British Columbia into the United States are insufficient after Sep- tember 16, 2024. (2) Authorization of appropriations There is authorized to be appropriated $100,000,000, which shall be nonreimburseable, to carry out this subsection. (d) Power coordination study (1) In general The Administrator shall conduct a study considering the potential hydroelectric power