Bill > S1034

This bill establishes the Southwestern Power Administration (SPA) Fund in the U.S. Treasury, which will consolidate various existing funding sources for the SPA, a federal agency responsible for marketing and transmitting electric power from hydroelectric dams in the southwestern United States. The fund will consist of all SPA receipts, collections, recoveries, appropriations, and transferred unexpended balances from previous funding accounts. The fund can be used by the Secretary of Energy, through the SPA Administrator, to cover expenses related to power transmission facilities, marketing electric power, constructing transmission infrastructure, and administrative duties associated with federal power management. The bill allows the Administrator to incur obligations in advance of appropriations, requires annual transfer of excess funds to the U.S. Treasury, and applies government corporation accounting standards to the fund's management. The legislation also makes conforming amendments to existing laws by updating references and repealing certain prior funding provisos. Essentially, this bill modernizes and streamlines the financial management of the Southwestern Power Administration by creating a dedicated, flexible fund for its operations.

Agriculture and Natural Resources

https://www.congress.gov/bill/119th-congress/senate-bill/1034/all-info