§6407 Coral Reef Stewardship Fund

Summary

The Administrator must try to make a deal with the National Fish and Wildlife Foundation (called the Foundation) so the Foundation can receive, hold, and manage money under this law. The Foundation must set up an account called the Coral Reef Stewardship Fund (the Fund). The Fund replaces the Coral Reef Conservation Fund that existed before December 23, 2022. Money put into the Fund must be used only for coral reef stewardship that supports this chapter and follows the National Coral Reef Resilience Strategy and any coral reef action plans under section 6404 that apply. The Foundation must invest any Fund money not needed right away in U.S. government interest-bearing or guaranteed obligations. Any interest or sale proceeds must go back into the Fund. The Administrator must keep reviewing deposits and withdrawals and write assessments about how well the Foundation is meeting the goals of this law and the Resilience Strategy. Under the agreement, the Foundation may accept gifts, including donated services, and must put those gifts into the Fund. If Congress provides money, the Administrator may transfer appropriated funds to the Foundation to help carry out this chapter. The Foundation may use amounts it receives to match contributions, in money, services, or property, from private people, state or local governments, or covered Native entities.