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<br />period; that faiS purpose, $500,000 for eac.ar of operation <br /> <br />of Hoover Dam and powerplant, commencing '^lith the enactment of this <br /> <br />proposed legislation, would be transferred from the Colorado River <br /> <br />Development Fund to the Upper Colorado River Basin Fund until such <br /> <br />reimbursement is accomplished; that to the extent that any deficiency <br /> <br />in such reimbursement remains as of June 1, 1987, that amount shall <br /> <br />be transferred to the Upper Colorado River Basin Fund from the <br /> <br />development fund created in P.L. 90-537. <br /> <br />D. Implementation of the Seven-State Agreement in H..R. 4671, <br />S. 1004, and P.L. 90-537. <br /> <br />1. H.R.4671 <br /> <br />During 1965 and 1966 (1st and 2d Session of 89th <br /> <br />Congress) the bill pending in the House of Representatives predeces- <br /> <br />sor to P.L. 90-537 was H. R. 4671. Section 502 of this bill <br /> <br />implemented the Seven-State Agreement and provided:W <br /> <br />"Sec. 502. The Upper Colorado River Basin fund <br />established under section 5 of the Act of April 11, <br />1956 (70 Stat. 107), shall be reimbursed from the <br />Colorado River development fund established by section <br />2 of the Boulder Canyon Project Adjustment Act (54 Stat. <br />7 55), for all expenditures heretofore or hereafter made <br />from the Upper Colorado River Basin fund to meet deficien- <br />cies in generation at Hoover Dam dUring the filling period <br />of reservoirs of storage units of the Colorado River storage <br />project. For this purpose $500,000 for each year of oper- <br />ation of Hoover Dam and powerplant, commencing with the <br />enactment of this Act, shall be transferred from the <br />Colorado River development fund to the Upper Colorado River <br />Basin Fund, in lieu of application of said amounts to the <br />purposes stated in section 2 (d) of the Boulder Canyon Project <br />Adjustment Act, until such reimbursement is accomplished. <br />To the extent that any deficiency in such reimbursement re- <br />mains as of June 1,1987, the amount of the remaining defiCiency <br />shall then be transferred to the Upper Colorado River Basin <br />fund from the Lower Colorado River Basin development fund, <br />as provided in paragraph (d) of section 403." (Emphasis added) <br />-6- <br /> <br />W Hearings before House of Representatives Subcommittee on <br />Irrigation and Reclamation of the Committee on Interior and <br />Insular Affairs, May 9-13, 18, 1966, 89th Congress, Second <br />$ession, on H.R. 4761 on pg. 471. (sic) <br />