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16 U.S.C. § 825t — Utilization of power revenues

submitted 80 years ago by ch. 529 to r/title-16-CONSERVATION · 78 words · no verdicts yet

in plain englishAI-generated · not legal advice

Project power revenues may not be distributed as profits, before or after project debt is retired. Using those revenues for the irrigation system's operation, maintenance, debt service, or other aid is not treated as a profit distribution.

No project's power revenues may be distributed as profits, whether or not the project's debt has been retired. Earlier appropriation laws cannot be read as authorizing that distribution. Applying the revenues to operating, maintaining, or paying debt of the project's irrigation system, or to other purposes supporting that system, is not such a distribution.
the actual law source: uscode.house.gov ↗public domain

No power revenues on any project shall be distributed as profits, before or after retirement of the project debt, and nothing contained in any previous appropriation Act shall be deemed to have authorized such distribution: Provided, That the application of such revenues to the cost of operation, maintenance, and debt service of the irrigation system of the project, or to other purposes in aid of such irrigation system, shall not be construed to be such a distribution.

Source credit: (July 1, 1946, ch. 529, § 1, 60 Stat. 366.)

history & why it existsrecord from the source credit
  • 1946Enacted · Act of July 1, 1946, ch. 529 · 60 Stat. 366

A history note hasn’t been published yet. The record shows enactment by ch. 529 on 1946-07-01.

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