§390bb — Title 43 Public Lands | U.S. Code

Summary

Defines key words used in the subchapter. Contract means a repayment or water service agreement between the United States and a district to pay construction charges plus normal operation, maintenance, and replacement costs under Federal reclamation law. District means any person or legal group set up under state law that has or can get a contract with the Secretary for irrigation water. Full cost means an annual rate set by the Secretary to pay off construction costs allocated to working irrigation facilities (including funded O&M shortfalls), less payments, with interest running from October 12, 1982 for costs outstanding then or from the date incurred for later costs; O&M and replacement charges required by Federal reclamation law must still be collected on top of the full cost. For costs on or before October 12, 1982, the Treasury Secretary sets the interest rate using the weighted-average yield of marketable Treasury issues for the fiscal year the cost was made, but not less than 7.5% per year. For costs after October 12, 1982, the interest rate is the arithmetic average of (1) the rate at the start of the fiscal year based on Treasury obligations not due or callable for 15 years, and (2) the Treasury’s weighted-average marketable-issue yield for the prior fiscal year. Individual means a natural person, their spouse, and dependents as defined in the Internal Revenue Code of 1986 (26 U.S.C. 152). Irrigation water means water supplied for farming from reclamation project facilities under a contract with the Secretary. Landholding means the total irrigable acres served under a contract; the Secretary must add any indirect acreage that benefits a qualified or limited recipient in proportion to that benefit. Limited recipient means a legal entity that benefits more than 25 natural persons. Qualified recipient means a U.S. citizen or resident alien, or a legal entity that benefits 25 or fewer natural persons. Recordable contract means a written contract between the Secretary and a landowner that can be recorded under state law to sell or dispose of lands held beyond federal ownership limits. Secretary means the Secretary of the Interior.

Title 43, §390bb

Public Lands — Source: USLM XML via OLRC

As used in this subchapter:

(1)The term “contract” means any repayment or water service contract between the United States and a district providing for the payment of construction charges to the United States including normal operation, maintenance, and replacement costs pursuant to Federal reclamation law.

(2)The term “district” means any individual or any legal entity established under State law which has entered into a contract or is eligible to contract with the Secretary for irrigation water.

(3)(A)The term “full cost” means an annual rate as determined by the Secretary that shall amortize the expenditures for construction properly allocable to irrigation facilities in service, including all operation and maintenance deficits funded, less payments, over such periods as may be required under Federal reclamation law or applicable contract provisions, with interest on both accruing from October 12, 1982, on costs outstanding at that date, or from the date incurred in the case of costs arising subsequent to October 12, 1982: Provided, That operation, maintenance, and replacement charges required under Federal reclamation law, including this subchapter, shall be collected in addition to the full cost charge.

(B)The interest rate used for expenditures made on or before October 12, 1982, shall be determined by the Secretary of the Treasury on the basis of the weighted average yield of all interest bearing, marketable issues sold by the Treasury during the fiscal year in which the expenditures by the United States were made, but shall not be less than 7½ per centum per annum.

(C)The interest rate used for expenditures made after October 12, 1982, shall be determined by the Secretary of the Treasury on the basis of the arithmetic average of—

(i)the rate as of the beginning of the fiscal year in which expenditures are made on the basis of the computed average interest rate payable by the Treasury upon its outstanding marketable public obligations which are neither due nor callable for redemption for fifteen years from the date of issuance; and

(ii)the weighted average yield on all interest-bearing, marketable issues sold by the Treasury during the fiscal year preceding the fiscal year in which the expenditures are made.

(4)The term “individual” means any natural person, including his or her spouse, and including other dependents thereof within the meaning of the Internal Revenue Code of 1986 (26 U.S.C. 152).

(5)The term “irrigation water” means water made available for agricultural purposes from the operation of reclamation project facilities pursuant to a contract with the Secretary.

(6)The term “landholding” means total irrigable acreage of one or more tracts of land situated in one or more districts owned or operated under a lease which is served with irrigation water pursuant to a contract with the Secretary. In determining the extent of a landholding the Secretary shall add to any landholding held directly by a qualified or limited recipient that portion of any landholding held indirectly by such qualified or limited recipient which benefits that qualified or limited recipient in proportion to that landholding.

(7)The term “limited recipient” means any legal entity established under State or Federal law benefiting more than twenty-five natural persons.

(8)The term “project” means any reclamation or irrigation project, including incidental features thereof, authorized by Federal reclamation law, or constructed by the United States pursuant to such law, or in connection with which there is a repayment or water service contract executed by the United States pursuant to such law, or any project constructed by the Secretary through the Bureau of Reclamation for the reclamation of lands.

(9)The term “qualified recipient” means an individual who is a citizen of the United States or a resident alien thereof or any legal entity established under State or Federal law which benefits twenty-five natural persons or less.

(10)The term “recordable contract” means a contract between the Secretary and a landowner in writing capable of being recorded under State law providing for the sale or disposition of lands held in excess of the ownership limitations of Federal reclamation law including this subchapter.

(11)The term “Secretary” means the Secretary of the Interior.

Editorial Notes

References in Text

Federal reclamation law, referred to in pars. (1), (3)(A), (8), and (10), is defined in section 390aa of this title.

Amendments

1986—Par. (4). Pub. L. 99–514 substituted “Internal Revenue Code of 1986” for “Internal Revenue Code of 1954”.

§390bb Definitions

Summary

Title 43, §390bb

Notes & Related Subsidiaries

Editorial Notes

References in Text

Amendments

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