President Signs Walden Legislation into Law

President Signs Walden Legislation into Law

Bill sponsored by Congressman Walden benefits southern Oregon economy; removes obstacles to Harry & David's growth

President George W. Bush today signed into law legislation written by U.S. Congressman Greg Walden (R-OR), HR 4195, which was passed by both the House of Representatives and Senate this month and allows the Harry & David Operations Corporation to make an early, full repayment of their financial obligations to the Bureau of Reclamation, rather than making installment payments over a lengthy and drawn out period of time.

"I'm grateful to President Bush for his support of this legislation, which is vital to the future growth of the Harry & David Corporation, a tremendous asset to the economy of southern Oregon and the state as a whole," said Walden. "By working collaboratively with the Bureau of Reclamation, local southern Oregon irrigation districts and Senators Smith and Wyden, we were able to enact legislation that will remove obstacles to the Corporation's efforts toward public ownership. I commend them for the good work they are doing in - and for - southern Oregon, and I thank my colleagues in the Congress and President Bush for their support of HR 4195."

With enactment of HR 4195, the Harry & David Operations Corporation is now able to make an early repayment of financial obligations to the Bureau of Reclamation (BOR) for establishment of local water projects, which allow for water distribution throughout the Rogue Valley; the company will continue to pay fees to irrigation districts for water used to locally grow fruit. Harry and David's contracts with the Medford and Rogue River Valley Irrigation Districts have now been brought in line with other districts throughout the West, including the Talent Irrigation District, which already have early repayments options.

This law is necessary due to current reporting requirements, which mandate that any shareholder with a one-percent or greater ownership stake in Harry & David file Reclamation reporting forms. Full, early repayment not only insures that the BOR will receive due compensation, but it removes the need for cumbersome obstacles that could hinder Harry & David's efforts to become a publicly held corporation

Congressman Walden represents the Second Congressional District of Oregon, which includes 20 counties in southern, central and eastern Oregon. He is a Deputy Whip in the House leadership structure and a member of the House Committee on Energy and Commerce as well as the Committee on Resources.

http://www.house.gov/apps/list/press/or02_walden/pr_051222_hr4195.html