§618c Charges as retroactive; adjustment of accounts

Summary

When this part goes into effect, the fees and how they are figured must be treated as if they began on June 1, 1937. The United States and everyone who contracted to buy or generate energy at the project must have their accounts changed so they end up, as nearly as possible, in the same financial position they would have been in on that date. The Secretary decides how to make those changes. Contractor adjustments are not paid in cash but given as credits over a time set by the Secretary. If payments the law sends to Arizona or Nevada are cut because of taxes collected, each person who paid those taxes will get credits or other adjustments. Each gets a share equal to the share their tax payments are of the total taxes collected.