To extend the deadline under the Federal Power Act for commencement of construction of the Mt. Hope Waterpower project (FERC Project No. 9401), and for other purposes.

Authorizes the Federal Energy Regulatory Commission, upon licensee request, to extend the time period for commencement of construction of the Mt. Hope Waterpower project until December 31, 2005, if the Commission determines that the licensee will take specified actions with regard to the project.

Provides for license reinstatement if the period required for commencement of project construction has expired prior to the date of the enactment of this Act .