16 U.S.C. § 838m — Power marketing administration transmission borrowing authority

FEDERAL · 16 U.S.C. · Chapter 12G

Power marketing administration transmission borrowing authority

Current through Pub. L. 119-102

Title 16 — Conservation·Ch. 12G — PACIFIC NORTHWEST FEDERAL TRANSMISSION SYSTEM

(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 Administrator of the Bonneville Power Administration (referred to in this section as the "Administrator") 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 authority under paragraph (1) shall not exceed $6,000,000,000 by fiscal year 2028.

(b)Financ

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(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 Administrator of the Bonneville Power Administration (referred to in this section as the "Administrator") 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 authority 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 financial 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 Administrator shall—
(A) consistent with asset management planning and sound business principles, consider projected and planned use and allocation of the borrowing authority of the Administrator across the mission responsibilities of the Bonneville Power Administration; and
(B) before issuing the final updated financial plan—
(i) engage, in a manner determined by the Administrator, with customers with respect to a draft of the updated plan; and
(ii) consider as a relevant factor any recommendations 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 stakeholders with respect to the financial and cost management efforts of the Administrator through periodic program reviews; and
(2) to the maximum extent practicable, implement 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 accounts.

16 U.S.C. § 838m (Power marketing administration transmission borrowing authority) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Source Credit

History

(Pub. L. 117–58, div. D, title I, §40110, Nov. 15, 2021, 135 Stat. 945.)

Editorial Notes

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 Investment and Jobs Act, and not as part of the Federal Columbia River Transmission System Act which comprises 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 authority of Secretary of Labor, see section 18851 of Title 42, The Public Health and Welfare.