S. 1034: Southwestern Power Administration Fund Establishment Act

This bill, known as the Southwestern Power Administration Fund Establishment Act, aims to create a new fund within the U.S. Treasury specifically for the Southwestern Power Administration (SWPA). Here are the main components of the bill:

Establishment of the Fund

The bill establishes a fund, referred to as the Southwestern Power Administration Fund, which will include:

• All receipts, collections, and recoveries made by the Southwestern Power Administration, including trust funds.
• Any appropriations made to this fund.
• Amounts transferred to the fund as specified in various sections of existing laws.
• Amounts deposited in the fund under specific provisions related to power management appropriations.

Transfers to the Fund

Additionally, the bill allows for transfers into the fund from:

• Unexpended balances in prior continuing funds established in previous laws.
• Unexpended balances from advanced payment funds as defined in past appropriations acts.
• Unexpended balances from offsetting collections in specified appropriation acts.

Availability and Use of Fund

The amounts in the Southwestern Power Administration Fund will remain available for use until they are fully expended. The Secretary of Energy, through the Administrator of the SWPA, will use these funds for:

• Operating and maintaining power transmission facilities.
• Marketing electric power and energy.
• Constructing and acquiring transmission lines, substations, and related facilities.
• Covering administrative expenses directly related to the Secretary's duties under existing legislation.

Obligations and Excess Funds

The Secretary is authorized to incur obligations for purposes authorized by the fund, even in advance of receiving appropriations that will replenish it. Furthermore, any excess funds remaining in the Southwestern Power Administration Fund at the end of the year must be transferred to the U.S. Treasury.

Applicable Law and Amendments

The provisions of existing laws will apply to the Administrator of the fund, similar to how they apply to wholly owned government corporations. The bill also includes amendments to update references in current law to align with the establishment of this new fund.

Relevant Companies

None found.