In determining the term of a new license issued when an existing license under this subchapter expires, the Commission shall take into consideration, among other things-
(1) project-related investments by the licensee under the new license; and
(2) project-related investments by the licensee over the term of the existing license.
The determination of the Commission under subsection (a) shall give equal weight to-
(1) investments by the licensee to implement the new license under this subchapter, including investments relating to redevelopment, new construction, new capacity, efficiency, modernization, rehabilitation or replacement of major equipment, safety improvements, or environmental, recreation, or other protection, mitigation, or enhancement measures required or authorized by the new license; and
(2) investments by the licensee over the term of the existing license (including any terms under annual licenses) that-
(A) resulted in redevelopment, new construction, new capacity, efficiency, modernization, rehabilitation or replacement of major equipment, safety improvements, or environmental, recreation, or other protection, mitigation, or enhancement measures conducted over the term of the existing license; and
(B) were not expressly considered by the Commission as contributing to the length of the existing license term in any order establishing or extending the existing license term.
At the request of the licensee, the Commission shall make a determination as to whether any planned, ongoing, or completed investment meets the criteria under subsection (b)(2). Any determination under this subsection shall be issued within 60 days following receipt of the licensee's request. When issuing its determination under this subsection, the Commission shall not assess the incremental number of years that the investment may add to the new license term. All such assessment shall occur only as provided in subsection (a).
(June 10, 1920, ch. 285, pt. I, §36, as added