A bill to direct the Federal Energy Regulatory Commission to issue an order with respect to Docket No. EL-85-38-000.

(Measure passed Senate, amended)

Directs the Federal Energy Regulatory Commission to issue an order that, in proceedings before the Commission taking place during the remaining license terms of certain Idaho Power Company projects, a specified Agreement (Swan Falls Agreement) regarding such projects shall not be considered by the Commission to be: (1) inconsistent with license provisions concerning project property retention; or (2) imprudent for certain purposes of the Federal Power Act.

Authorizes the Commission to consider at any time whether the settlement agreement and the licensee are in full compliance with: (1) license provisions relating to fish and wildlife protection; and (2) Federal environmental law. Directs the Commission to accept and adopt as part of its order the Offers of Settlement pending on enactment of this Act between the licensee, the State of Idaho, the Secretary of the Interior, the National Marine Fisheries Service and others.

Requires the signatories to the Offers of Settlement (Federal and licensee parties) to enter into a joint agreement to conduct and finance joint studies regarding certain environmental and wildlife resources, and to make such study results public. States that this Act does not grant the Commission any authority to take any action based upon such study results or recommendations.

Grants the State of Idaho the option to participate in such study negotiations. Provides for Federal funding of such study costs, and for Federal consultation with Indian tribes affected by the Agreement.

Requires the Commission, the Secretary of the Interior, and the Administrator of the National Oceanic and Atmospheric Administration to keep certain congressional committees fully informed of the status of all actions required by this Act.