§618c Charges as Retroactive; Adjustment of Accounts

Summary

When these rules take effect, the charges and how they are calculated must be treated as if they began on June 1, 1937. The Secretary must adjust accounts so the United States and everyone who contracted to buy or to generate energy at the project are put as nearly as possible in the position they would have been in if those charges and the approved operating methods had been in place on June 1, 1937. Any adjustments with contractors cannot be paid in cash and must be given as credits over a time the Secretary decides. If payments to Arizona or Nevada under section 618a(c) are reduced because of taxes collected, the Secretary must periodically adjust with each allottee who paid those taxes. Each allottee gets credits or other compensation equal to the share of the payment reduction that matches the share of taxes that allottee paid of the total taxes collected.