
S. 1474 · 106th Congress · enacted
Palmetto Bend Conveyance Act
Became Public Law No: 106-512.
Latest official action 2000-11-13 · Enacted
The bill, briefly
Palmetto Bend Conveyance Act - Directs the Secretary of the Interior to convey the Palmetto Bend Reclamation Project in Texas (excluding the mineral estate) to the State of Texas, acting through the Texas Water Development Board or the Lavaca-Navidad River Authority. Requires the Secretary, if the conveyance has not been completed within one year and 180 days after the enactment date of this Act, to report to the House Committee on Resources and the Senate Committee on Energy and Natural Resources on the conveyance's status, any obstacles to completion, and the anticipated completion date. Directs the State, as a condition of the conveyance, to pay to the Secretary the adjusted net present value of current repayment obligations on the Project as prescribed by this Act. Requires the State to also pay interest on the adjusted net present value of such obligations from the date of the State's most recent annual payment until closing at the interest rate for constant maturity U.S. Treasury notes of an equivalent term. Extinguishes the State's and the Bureau of Reclamation's obligation under a specified Bureau contract upon payment by the State of such amount. Requires the State, after completion of the conveyance, to assume full responsibility for all aspects of operation, maintenance, and replacement of the Project. Requires the State, as a condition of the conveyance, to agree th…
Congressional Research Service · 2000-10-13
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Amount spent specifically on this bill: not disclosed
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Politicians behind the bill
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What happened after enactment?
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Measured outcome: not established
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