Federal Investment in Sustainable Hydropower Act

[AI summary unavailable — showing source text] Federal Investment in Sustainable Hydropower Act - Directs the Secretary of Energy to promulgate standards for advanced turbines. Directs the Federal Energy Regulatory Commission (FERC) to: (1) modify hydroelectric licensing and operation fees so that certain advanced turbine installations are entitled to a discount; and (2) give a priority in the scheduling of its licensing processes to licensees that have installed advanced turbines meeting or exceeding specified standards. Amends the Federal Power Act to: (1) prescribe guidelines for an expedited licensing schedule and environmental review of applications; (2) reduce the license duration period from 50 to 30 years; (3) reduce from 30 years to 15 years the minimum term for relicensing; and (4) prescribe guidelines for FERC collection of fees on behalf of State and Federal agencies. Directs FERC to: (1) reimburse legal expenses incurred by any person granted intervener status in any proceeding pertaining to water power and resources development; and (2) require specified royalties for use of public waters. Authorizes FERC to allocate certain royalty receipts to the host State of a hydroelectric project to enhance its fish and wild…