To approve the transfer of Yellow Creek Port properties in Iuka, Mississippi.

Mr. Speaker, I yield myself such time as I may consume.

H.R. 3044 will allow the transfer of 173 acres of Tennessee Valley Authority lands to the State of Mississippi for industrial and economic development.

The Tennessee Valley Authority Act of 1933 withdrew lands from the Tennessee River System to provide for future development of power plants, industrial sites, ports, and supporting infrastructure.

In 1971 at the confluence of the Tennessee and the Tombigbee Rivers, the Yellow Creek Port project was initiated. The purpose of the Yellow Creek Port project was to support economic development and local jobs in northeast Mississippi. The TVA and the State of Mississippi have jointly supported the development and growth of the port.

TVA initially transferred 289 acres of land to the Yellow Creek Port to facilitate development back in 1971. H.R. 3044 would transfer an additional 173 acres of the land to the State of Mississippi.

The acreage includes industrial, highway, and railroad easements and 54 acres of undeveloped land. The TVA has attempted to sell this land since 1984, with no interested buyers.

Mr. Speaker, the TVA Act allows TVA, with appropriate congressional approvals, to dispose of property for particular uses. According to TVA, the agency places reversionary interest clauses in transfers and sales to ensure that those uses specified by Congress in the TVA Act are carried out. TVA then retains the right to retake possession of the property if the use condition is breached.

In February the Senate Environment and Public Works Committee considered and passed S. 212, by a voice vote, which supported the transfer of these same 173 acres. The Congressional Budget Office has concluded that the net impact of the transfer would be insignificant and would not affect direct spending. TVA has confirmed that the transferred lands would be used for industrial development; and again, if for some reason the lands are instead proposed for some nonindustrial purpose, the TVA can legally have the lands returned to them.

Mr. Speaker, I am not aware of any opposition to H.R. 3044, and as we have heard, the construction of the Yellow Creek Port in 1971 initially involved approximately 289 acres.

So with that, Mr. Speaker, I urge my colleagues on both sides of the aisle to support the passage of H.R. 3044.

Mr. Speaker, I yield back the balance of my time.

Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 3044) to approve the transfer of Yellow Creek Port properties in Iuka, Mississippi.

Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days in which to revise and extend their remarks and include extraneous materials on H.R. 3044.

Mr. Speaker, I yield myself such time as I may consume.

Mr. Speaker, the Tennessee Valley Authority was created by Congress in 1933 to provide wholesale electric power and create economic development opportunities for those States in the Tennessee Valley region.

The State of Mississippi initiated development of Yellow Creek Port in 1971 on 116 acres purchased from the TVA. Industrial growth, high- paying jobs, associated spinoff companies, and increased traffic on the Nation's inland waterway system have occurred because of the development of Yellow Creek Port.

I would like to thank Congressman Alan Nunnelee for introducing H.R. 3044, legislation that will convey land from TVA to the State of Mississippi to provide economic development opportunities in the region. Nunnelee has been a leader on these types of activities since he was elected to Congress in 2010.

The land being conveyed through this legislation will be used solely for industrial purposes and allow the State of Mississippi to expand the Yellow Creek Port to meet increasing demand.

H.R. 3044 will execute the conveyance of the remaining 173 acres of property from TVA to the State of Mississippi to complete the development of Yellow Creek Port and fulfill one of TVA's missions of ensuring economic development opportunities in the TVA service area.

Mr. Speaker, I urge all Members to support H.R. 3044, and I reserve the balance of my time.

Mr. Speaker, I thank the gentlewoman from Maryland for her support. I urge my colleagues to join me in supporting this important legislation, and I yield back the balance of my time.

Mr. President, I ask unanimous consent that the Committee on Environment and Public Works be discharged from further consideration of H.R. 3044 and S. 2785 and the Senate proceed to their immediate consideration en bloc.

I ask unanimous consent that the bills be read a third time and passed and the motions to reconsider be considered made and laid upon the table en bloc.