In order to facilitate the development and construction by States and municipalities of water conservation facilities, certain requirements in the Federal Power Act [16 U.S.C. 791a et seq.] are made inapplicable to States and municipalities as provided in this subchapter.

The words used in this subchapter shall have the same meanings ascribed to them in the Federal Power Act [16 U.S.C. 791a et seq.].

Section 807 of this title pertaining to the taking over by the United States of any project upon or after the expiration of a license, and sections 825 and 825a of this title requiring certain records and accounting procedures and section 797(b) of this title requiring the preparation and filing of the statement of actual legitimate original cost of a project, shall not be applicable to any project owned by a State or municipality, and such rights and requirements shall not exist under any license heretofore or hereafter granted to any State or municipality. The Secretary of Energy in determining the amount of annual charges applicable to any such project may determine the annual charges with reference to the actual cost of services incurred by the Secretary with respect to the project.

Except as herein provided, the provisions of this subchapter shall not be construed as repealing or affecting any of the provisions of the Federal Power Act [16 U.S.C. 791a et seq.].