(May 13, 1954, ch. 201, § 12,68 Stat. 96; Pub. L. 91–469, § 43(b),Oct. 21, 1970, 84 Stat. 1038; Pub. L. 95–91, title IV, § 402(a)(1)(B),Aug. 4, 1977, 91 Stat. 583; Pub. L. 97–369, title III, § 311,Dec. 18, 1982, 96 Stat. 1782; Pub. L. 100–352, § 6(h),June 27, 1988, 102 Stat. 664.)
1988—Subsec. (a). Pub. L. 100–352
substituted “1254(2)” for “1254(3)”.
1982—Subsec. (b)(5). Pub. L. 97–369
struck out par. (5) which directed that the rates provide for revenues sufficient to amortize the principal of the debts and obligations of the Corporation over a period of not to exceed 50 years.
1970—Subsec. (a). Pub. L. 91–469
, § 43(b)(1), inserted requirement that any formula for a division of revenues which takes into consideration annual debt charges shall include the total cost, including both interest and debt principal, incurred by the United States in financing activities authorized by this chapter, whether or not reimbursable by the Corporation.
Subsec. (b)(4). Pub. L. 91–469
, § 43(b)(2), struck out “, payment of interest on the obligations of the Corporation,” after “depreciation”.
Effective Date of 1988 Amendment
Amendment by Pub. L. 100–352
effective ninety days after June 27, 1988, except that such amendment not to apply to cases pending in Supreme Court on such effective date or affect right to review or manner of reviewing judgment or decree of court which was entered before such effective date, see section 7 ofPub. L. 100–352
, set out as a note under section
, Judiciary and Judicial Procedure.
Transfer of Functions
“Federal Energy Regulatory Commission” substituted for “Federal Power Commission” in subsec. (a) on authority of Pub. L. 95–91
, title IV, § 402(a)(1)(B),Aug. 4, 1977, 91 Stat. 583
, which is classified to section
, The Public Health and Welfare.
Great Lakes and Saint Lawrence Seaway
Pub. L. 101–101
, title I, Sept. 29, 1989, 103 Stat. 642
, provided: “That within available funds, the Secretary of the Army, acting through the Chief of Engineers, is directed to initiate and complete a reconnaissance study for the Saint Lawrence Seaway and Great Lakes-Financing Navigational Improvements Study, as authorized in section 47(d) ofPublic Law 100–676 [set out below], in accordance with the cost sharing provisions of Public Law 99–662 [Nov. 17, 1986, 100 Stat. 4082
Pub. L. 100–676
, § 47(d),Nov. 17, 1988, 102 Stat. 4042
, provided that:
“(1) Study of financing navigational improvements.—The Secretary, in cooperation with other Federal agencies and private persons, is authorized and directed to contract with an independent party to conduct a study of cost recovery options and alternative methods of financing navigational improvements on the Great Lakes connecting channels and Saint Lawrence Seaway, including modernization of the Eisenhower and Snell Locks of the Saint Lawrence Seaway.
“(2) Report.—Not later than 18 months after the date of the enactment of this Act [Nov. 17, 1988], the Secretary shall transmit to Congress a report on the results of the study carried out under this subsection together with recommendations.
“(3) Cost sharing.—The non-Federal share of the cost of the study under this subsection shall be 50 percent; except that not more than 1/2 of such non-Federal share may be made by the provision of services, materials, supplies, or other in-kind services necessary to carry out the study.”
Report on Reduction or Elimination of Tolls on Great Lakes and Saint Lawrence Seaway
Pub. L. 99–662
, title XIV, § 1406,Nov. 17, 1986, 100 Stat. 4272
, provided that: “Not later than 2 years after the date of enactment of this Act [Nov. 17, 1986], the Secretary of State, in consultation with the Secretary of Transportation, shall initiate discussions with the Government of Canada with the objective of reducing or eliminating all tolls on the international Great Lakes and the Saint Lawrence Seaway, and the Secretary of Transportation shall report to the Congress on the progress of such discussions and on the economic effects upon waterborne commerce in the United States of any proposed reduction or elimination in tolls.”