Transferring Ownership of The Yellow Creek Port Properties in Mississippi (H.R. 3044)

What is H.R. 3044?

(Updated January 4, 2015)

This bill was enacted on December 18, 2014

This bill would shift ownership of the Yellow Creek Port properties at Iuka, Mississippi from the federally-operated Tennessee Valley Authority (TVA) to the state of Mississippi.

The TVA is a federal corporation that was created in 1933 during the Great Depression to provide flood control, land management, energy infrastructure, and economic assistance to Southern states at no cost to taxpayers. The TVA remains an important source of aid in seven states. It subsidizes electricity to nine million residents at a cost significantly lower than the national rate. Those receiving support from the TVA include 334,000 households in Mississippi.

This bill would convey 172 acres of property in the Yellow Creek Port to the state. Mississippi is legally permitted to acquire this property if an environmental review determines that it is free of pollutants, and if the TVA waives payment requirements.

Argument in favor

The State of Mississippi should have the right to revenue generated by electricity sales in towns like Iuka.

Argument opposed

The Tennessee Valley Authority needs to be able to sell electricity to places like Iuka in order to keep electricity prices down.

Impact

People who receive subsidized electricity from the TVA, the Yellow Creek Port, the state of Mississippi, and taxpayers in Mississippi.

Cost of H.R. 3044

The CBO estimates that H.R. 3044 will have no significant impact on the federal budget.

Additional Info

Media: 

WTVA

(Photo Credit: Bridge Hunter)