We don’t have a summary available yet.
The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Sep 6, 2016.
(This measure has not been amended since it was introduced. The summary of that version is repeated here.)
This bill directs the Department of the Interior to permit the prepayment of repayment obligations under Repayment Contract No. 14-06-400-33 between the United States and the Weber Basin Water Conservancy District, including all related applicable contracts, providing for repayment of Weber Basin Project construction costs allocated to irrigation and municipal and industrial purposes under terms and conditions similar to those used in implementing the provisions in the Central Utah Project Completion Act for prepayment of Central Utah Project, Bonneville Unit repayment obligations.
The prepayment:
shall result in the United States recovering the net present value of all repayment streams that would have been payable to the United States if this bill was not in effect; may be provided in several installments; may not be adjusted on the basis of the type of prepayment financing used by the District; and shall result in total repayment by September 30, 2026.
