A bill to validate contractual relationships between the United States and various non-federal entities.

[AI summary unavailable — showing source text] Amends the Federal Power Act to provide that, with regard to annual charges payable by licensees for benefits from Federal claims and other structures, such charges will not be assessed where Federal contracts entered into heretofore with a licensee: (1) authorize such licensee to build and own powerplants using Federally constructed irrigation facilities; and (2) provide that revenues from such licensee's powerplants (and the disposition of power therefrom) remain the property of such licensee.…