43 U.S.C. § 390ee — Pricing

(a) Delivery of irrigation water at full cost: Despite any other law, any contract a district signs with the Secretary under section 390cc must charge full cost (as defined in section 390bb(3)) for water delivered to: (1) a qualified recipient's landholding beyond 960 acres of class I land (or equivalent); (2) a limited recipient's landholding beyond 320 acres of class I land (or equivalent), if that recipient was already getting irrigation water on or before October 1, 1981; and (3) a limited recipient's entire landholding, if that recipient was not getting irrigation water by October 1, 1981. The interest rate for this full-cost calculation is set by the Secretary of the Treasury, averaging (A) the rate on the Treasury's 15-year (or longer) marketable public bonds, and (B) the weighted average yield on all interest-bearing marketable Treasury issues sold the prior fiscal year — or, for spending before October 12, 1982, using that date instead. (b) Delivery of irrigation water at prior terms and conditions: For land within the acreage limits in (a), a section 390cc contract must set pricing under the reclamation law terms and conditions in effect right before October 12, 1982 — or, for an amended contract, the terms that existed before the amendment. But the part of the price covering operation and maintenance charges must instead follow section 390hh. (c) Delivery of irrigation water to lands under recordable contracts: Despite any time extension under section 390ii(e), land under a recordable contract can get irrigation water below full cost for up to ten years from when the contract was signed (if signed before October 12, 1982), or five years (if signed after), or for the time set in section 390rr for land covered there. Even so, the right to get below-full-cost water under this subsection cannot end sooner than eighteen months after the Secretary resumes processing or approving the sale of that land.