[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. 822 Introduced in Senate (IS)]
109th CONGRESS
1st Session
S. 822
To prevent the retroactive application of changes to Trans-Alaska
Pipeline Quality Bank valuation methodologies.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
April 15, 2005
Ms. Murkowski (for herself and Mr. Stevens) introduced the following
bill; which was read twice and referred to the Committee on Energy and
Natural Resources
_______________________________________________________________________
A BILL
To prevent the retroactive application of changes to Trans-Alaska
Pipeline Quality Bank valuation methodologies.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. DEFINITIONS.
In this Act:
(1) Commission.--The term ``Commission'' means the Federal
Energy Regulatory Commission.
(2) TAPS quality bank valuation methodologies.--The term
``TAPS quality bank valuation methodologies'' means valuation
methodologies applied for the purpose of establishing monetary
adjustments paid by or to shippers of oil on the Trans-Alaska
Pipeline (as authorized by the Trans-Alaska Pipeline
Authorization Act (43 U.S.C. 1651 et seq.) through the
operation of a quality bank to compensate for differentials in
the value of shippers' oil commingled in the pipeline.
SEC. 2. FEDERAL ENERGY REGULATORY COMMISSION REVIEW OF TRANS-ALASKA
PIPELINE CARRIER TARIFFS.
Pursuant to the ratemaking authority of the Commission under
section 60501 of title 49, United States Code, in carrying out a review
of Trans-Alaska Pipeline carrier tariffs, the Commission shall not
approve any retroactive application of TAPS quality bank valuation
methodologies.
SEC. 3. EFFECTIVE DATE.
This Act applies to orders of the Commission issued after December
31, 2005.
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