Sec. 2. Aging infrastructure account
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Section 9603 of the Omnibus Public Land Management Act of 2009 ( 43 U.S.C. 510b ) is amended by adding at the end the following: There is established in the general fund of the Treasury a special account, to be known as the Aging Infrastructure Account (referred to in this subsection as the Account ), to provide funds to, and provide for the extended repayment of the funds by, a transferred works operating entity or project beneficiary responsible for repayment of reimbursable costs for the conduct of extraordinary operation and maintenance work at a project facility, which shall consist of— any amounts that are specifically appropriated to the Account under section 9605; and any amounts deposited in the Account under paragraph (3)(B).
Subject to appropriations and paragraph (3), the Secretary may expend amounts in the Account to fund and provide for extended repayment of the funds for eligible projects identified in a report submitted under paragraph (5)(A). The Secretary may not expend amounts under paragraph
(2)with respect to an eligible project described in that paragraph unless the transferred works operating entity or project beneficiary responsible for repayment of reimbursable costs has entered into a contract to repay the amounts under subsection (b)(2). Amounts repaid by a transferred works operating entity or project beneficiary responsible for repayment of reimbursable costs receiving funds under a repayment contract entered into under this subsection shall be deposited in the Account and shall be available to the Secretary for expenditure in accordance with this subsection without further appropriation. Not less than once per fiscal year, the Secretary shall accept, during an application period established by the Secretary, applications from transferred works operating entities or project beneficiaries responsible for payment of reimbursable costs for funds and extended repayment for eligible projects. A project eligible for funding and extended repayment under this subsection is a project that— qualifies as an extraordinary operation and maintenance work under this section; is for the major, non-recurring maintenance of a mission-critical asset; and is not eligible to be carried out or funded under the repayment provisions of section 4(c) of the Reclamation Safety of Dams Act of 1978 ( 43 U.S.C. 508(c) ). Not later than 60 days after the date of enactment of this subsection, the Secretary shall issue guidelines describing the information required to be provided in an application for funding and extended repayment under this subsection that require, at a minimum— a description of the project for which the funds are requested; the amount of funds requested; the repayment period requested by the transferred works operating entity or project beneficiary responsible for repayment of reimbursable costs; alternative non-Federal funding options that have been evaluated; the financial justification for requesting an extended repayment period; and the financial records of the transferred works operating entity or project beneficiary responsible for repayment of reimbursable costs. The Secretary shall review each application submitted under subparagraph (A)— to determine whether the project is eligible for funds and an extended repayment period under this subsection; to determine if the project has been identified by the Bureau of Reclamation as part of the major rehabilitation and replacement of a project facility; and to conduct a financial analysis of— the project; and the transferred works operating entity or project beneficiary responsible for repayment of reimbursable costs. Not later than 90 days after the date on which an application period closes under paragraph (4)(A), the Secretary shall submit to the Committees on Energy and Natural Resources and Appropriations of the Senate and the Committees on Natural Resources and Appropriations of the House of Representatives a report that— identifies each project eligible for funding and extended repayment under this subsection; with respect to each eligible project identified under subparagraph (A), includes— a description of— the eligible project; the anticipated cost and duration of the eligible project; and any remaining engineering or environmental compliance that is required before the eligible project commences; an analysis of— the repayment period proposed in the application; and if the Secretary recommends a minimum necessary repayment period that is different than the repayment period proposed in the application, the minimum necessary repayment period recommended by the Secretary; and an analysis of alternative non-Federal funding options; and describes the balance of funds in the Account as of the date of the report. Nothing in this subsection affects— any funding provided, or contracts entered into, under subsection
(a)before the date of enactment of this subsection; or the use of funds otherwise made available to the Secretary to carry out subsection (a). .
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