16 USC 460lll-49 – Tennessee Valley Authority transfer funding
(a) In general
The funding described in this section is funding derived from only 1 or more of the following sources:
(1) Nonpower fund balances and collections.
(2) Investment returns of the nonpower program.
(3) Applied programmatic savings in the power and nonpower programs.
(4) Savings from the suspension of bonuses and awards.
(5) Savings from reductions in memberships and contributions.
(6) Increases in collections resulting from nonpower activities, including user fees.
(7) Increases in charges to private and public utilities both investor and cooperatively owned, as well as to direct load customers.
(b) Availability
Terms Used In 16 USC 460lll-49
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Outlays: Outlays are payments made (generally through the issuance of checks or disbursement of cash) to liquidate obligations. Outlays during a fiscal year may be for payment of obligations incurred in prior years or in the same year.
- User fees: Fees charged to users of goods or services provided by the government. In levying or authorizing these fees, the legislature determines whether the revenue should go into the treasury or should be available to the agency providing the goods or services.
Funds from the sources described in subsection (a) shall be available notwithstanding section 11, 14, 15, or 29 [16 U.S.C. 831j, 831m, 831n, 831bb] or any other provision of the Tennessee Valley Authority Act of 1933 (16 U.S.C. 831 et seq.) or any provisions of the covenants contained in any power bonds issued by the Tennessee Valley Authority.
(c) Sufficiency of savings
The savings from and the revenue adjustment to the budget of the Tennessee Valley Authority for the first fiscal year of the transfer and each fiscal year thereafter shall be sufficient so that the net spending authority and resulting outlays to carry out activities with funding described in subsection (a) shall not exceed $0 for the first fiscal year of the transfer and each fiscal year thereafter.
(d) Itemized list of reductions and increased receipts
(1) Proposed changes
Not later than 30 days after the date of transfer pursuant to section 460lll-41 of this title, the Chairman of the Tennessee Valley Authority shall submit to the Committee on Appropriations of the House of Representatives and the Committee on Appropriations of the Senate an itemized list of the amounts of reductions in spending and increases in receipts that are proposed to be made as a result of activities under this subsection during the first fiscal year of the transfer.
(2) Actual changes
Not later than 24 months after the effective date of the transfer, the Chairman of the Tennessee Valley Authority shall submit to the Committee on Appropriations of the House of Representatives and the Committee on Appropriations of the Senate an itemized list of the amounts of reductions in spending and increases in receipts as a result of activities under this subsection during the first fiscal year of the transfer.