H.R. 3044, Legislation to Approve the Transfer of Yellow Creek Port Properties
September 15, 2014
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.