H.R. 2432 — Southwestern Power Administration Fund Establishment Act

This section defines, for purposes of the Act, the terms (1) “Administrator” as the Administrator of the Southwestern Power Administration, (2) “Fund” as the Southwestern Power Administration Fund established by section 3(a), and (3) “Secretary” as the Secretary of Energy.

This section establishes in the Treasury the Southwestern Power Administration Fund—a revolving fund for the Southwestern Power Administration (SPA), a Department of Energy power marketing administration that transmits and sells at wholesale, with preference to public bodies and cooperatives, electric power generated at U.S. Army Corps of Engineers reservoir projects (16 U.S.C. 825s). The fund consists of (1) SPA receipts and collections, (2) appropriations, (3) transfers of unexpended balances from three prior funds established by appropriations acts (16 U.S.C. 825s–1, 825s–4, and 825s–7), and (4) specified deposits from a 2005 appropriations act proviso; amounts remain available until expended for SPA transmission operation and maintenance, power marketing, transmission construction and acquisition, and administrative expenses; authorizes SPA to incur obligations in advance of appropriations (to be liquidated from the fund); requires annual transfer of excess amounts to the Treasury as miscellaneous receipts; and applies federal government corporation financial provisions (31 U.S.C. ch. 91). This section also amends the 2005 proviso to deposit amounts into the new fund (from the prior account) and repeals the 2010 provisos.