§6604 — Title 16 Conservation | U.S. Code

Summary

Creates a separate account called the Marine Turtle Conservation Fund inside the Multinational Species Conservation Fund. The Fund holds money sent to the Treasury under the donation rule, amounts Congress appropriates under section 6606(a), and any interest the Fund earns. The Treasury must transfer money from the Fund to the Secretary when the Secretary asks, so the Secretary can carry out section 6603, without needing more approval. Each year the Secretary can use up to 5 percent of the Fund, or up to $150,000 (whichever is larger), for administrative costs. The Treasury must invest unused money in U.S. interest-bearing obligations, may buy or sell those obligations at market or issue price, and must credit interest and sale proceeds back to the Fund. Transfers into the Fund must happen at least monthly based on Treasury estimates, with later corrections. The Secretary may accept donations and must send them to the Treasury for deposit.

Title 16, §6604

Conservation — Source: USLM XML via OLRC

(a)There is established in the Multinational Species Conservation Fund a separate account to be known as the “Marine Turtle Conservation Fund”, consisting of—

(1)amounts transferred to the Secretary of the Treasury for deposit into the Fund under subsection (e);

(2)amounts appropriated to the Fund under section 6606(a) of this title; and

(3)any interest earned on investment of amounts in the Fund under subsection (c).

(b)(1)Subject to paragraph (2), on request by the Secretary, the Secretary of the Treasury shall transfer from the Fund to the Secretary, without further appropriation, such amounts as the Secretary determines are necessary to carry out section 6603 of this title.

(2)Of the amounts in the account available for each fiscal year, the Secretary may expend not more than 5 percent, or up to $150,000, whichever is greater, to pay the administrative expenses necessary to carry out this chapter.

(c)(1)The Secretary of the Treasury shall invest such portion of the Fund as is not, in the judgment of the Secretary of the Treasury, required to meet current withdrawals. Investments may be made only in interest-bearing obligations of the United States.

(2)For the purpose of investments under paragraph (1), obligations may be acquired—

(A)on original issue at the issue price; or

(B)by purchase of outstanding obligations at the market price.

(3)Any obligation acquired by the Fund may be sold by the Secretary of the Treasury at the market price.

(4)The interest on, and the proceeds from the sale or redemption of, any obligations held in the Fund shall be credited to and form a part of the Fund.

(d)(1)The amounts required to be transferred to the Fund under this section shall be transferred at least monthly from the general fund of the Treasury to the Fund on the basis of estimates made by the Secretary of the Treasury.

(2)Proper adjustment shall be made in amounts subsequently transferred to the extent prior estimates were in excess of or less than the amounts required to be transferred.

(e)The Secretary may accept and use donations to provide assistance under section 6603 of this title. Amounts received by the Secretary in the form of donations shall be transferred to the Secretary of the Treasury for deposit in the Fund.

Editorial Notes

Amendments

2019—Subsec. (a)(2). Pub. L. 116–9, § 7001(c)(3)(D)(i), substituted “section 6606(a)” for “section 6605”. Subsec. (b)(2). Pub. L. 116–9, § 7001(c)(3)(D)(ii), substituted “5 percent, or up to $150,000” for “3 percent, or up to $80,000”.

§6604 Marine Turtle Conservation Fund

Summary

Title 16, §6604

Notes & Related Subsidiaries

Editorial Notes

Amendments

Citations & Metadata