A bill to impose greater accountability on the Tennessee Valley Authority with respect to capital investment decisions and financing operations by increasing Congressional and Executive Branch oversight.

Summary

Directs the Tennessee Valley Authority (TVA) to submit a Ten-Year Business Outlook and Strategic Plan to the Director of the Office of Management and Budget and to certain congressional committees that includes: (1) estimates of power demand and capital expenditures; (2) a strategy and criteria for the development and financing of new nuclear and nonnuclear power supply sources; and (3) a strategy for managing the financing, refinancing, and repayment of existing TVA indebtedness. Requires the financial plan to include TVA policies regarding: (1) the use of short-term and long-term debt; (2) the use of derivative or other financing instruments; and (3) risk management strategies. Prohibits TVA, until the Director and each of the congressional committee leaders issue a written concurrence to the Plan, from: (1) expending any internally generated capital or otherwise undertake any investment in, or enter into any arrangement that would result in the development or financing of, new, additional, or replacement plant, equipment, or capacity; or (2) undertaking any financing of additional indebtedness or refinancing of debt without the written concurrence of the Director and leaders of specified congressional committees.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 5 February 2003

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 5 February 2003

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• Introduced in Senate

  summary · EN · 5 February 2003

  Open at official source

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