FERC AUTHORITY TO EXTEND PRELIMINARY PERMIT PERIODS.

SEC. 5. FERC AUTHORITY TO EXTEND PRELIMINARY PERMIT PERIODS. Section 5 of the Federal Power Act (16 U.S.C. 798) is amended— (1) by designating the first, second, and third sentences as subsections (a), (c), and (d), respectively; and (2) by inserting after subsection (a) (as so designated) the following: “(b) The Commission may extend the period of a preliminary permit once for not more than 2 additional years beyond the 3 years permitted by subsection (a) if the Commission finds that the permittee has carried out activities under such permit in good faith and with reasonable diligence.” .