118 STAT. 3493 PUBLIC LAW 108–451—DEC. 10, 2004 (2) EXHIBITS.—The Secretary is directed to and shall exe- cute the master agreement and any of the exhibits to the master agreement that have not been executed as of the date of enactment of this Act. (3) DEBT COLLECTION.—For any agricultural priority water that is not relinquished under the master agreement, the sub- contractor shall continue to pay, consistent with the master agreement, the portion of the debt associated with any retained water under section 9(d) of the Reclamation Project Act of 1939 (43 U.S.C. 485h(d)), and the Secretary shall apply such revenues toward the reimbursable section 9(d) debt of that subcontractor. (4) EFFECTIVE DATE.—The provisions of subsections (b) and (c) shall take effect on the date of enactment of this Act. (b) NONREIMBURSABLE DEBT.— (1) IN GENERAL.—In accordance with the master agreement, the portion of debt incurred under section 9(d) of the Reclama- tion Project Act of 1939 (43 U.S.C. 485h(d)), and identified in the master agreement as nonreimbursable to the United States, shall be nonreimbursable and nonreturnable to the United States in an amount not to exceed $73,561,337. (2) EXTENSION.—In accordance with the master agreement, the Secretary may extend, on an annual basis, the repayment schedule of debt incurred under section 9(d) of the Reclamation Project Act of 1939 (43 U.S.C. 485h(d)) by CAP subcontractors. (c) EXEMPTION.—The Reclamation Reform Act of 1982 (43 U.S.C. 390aa et seq.) and any other acreage limitation or full cost pricing provisions of Federal law shall not apply to— (1) land within the exterior boundaries of the Central Arizona Water Conservation District or served by Central Arizona Project water; (2) land within the exterior boundaries of the Salt River Reservoir District; (3) land held in trust by the United States for an Arizona Indian tribe that is— (A) within the exterior boundaries of the Central Arizona Water Conservation District; or (B) served by Central Arizona Project water; or (4) any person, entity, or land, solely on the basis of— (A) receipt of any benefits under this Act; (B) execution or performance of the Gila River agree- ment; or (C) the use, storage, delivery, lease, or exchange of Central Arizona Project water. SEC. 107. LOWER COLORADO RIVER BASIN DEVELOPMENT FUND. (a) IN GENERAL.—Section 403 of the Colorado River Basin Project Act (43 U.S.C. 1543) is amended by striking subsection (f) and inserting the following: ‘‘(f) ADDITIONAL USES OF REVENUE FUNDS.— ‘‘(1) CREDITING AGAINST CENTRAL ARIZONA WATER CON- SERVATION DISTRICT PAYMENTS.—Funds credited to the develop- ment fund pursuant to subsection (b) and paragraphs (1) and (3) of subsection (c), the portion of revenues derived from the sale of power and energy for use in the State of Arizona pursu- ant to subsection (c)(2) in excess of the amount necessary to meet the requirements of paragraphs (1) and (2) of subsection VerDate 11-MAY-2000 13:54 Nov 10, 2005 Jkt 029194 PO 00000 Frm 00027 Fmt 6580 Sfmt 6581 C:\STATUTES\2004\29194PT4.001 APPS10 PsN: 29194PT4
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