§7503 — Title 16 Conservation | U.S. Code

Summary

The Administrator and the Foundation can set up a tax-exempt National Oceans and Coastal Security Fund to support the chapter’s work. Money that is appropriated or otherwise made available to carry out the chapter must be put into the Fund. Money given by a foreign government (as defined in 5 U.S.C. 7342) cannot be deposited. Funds received by the Foundation must follow the National Fish and Wildlife Foundation Establishment Act, except for section 4(e)(1)(B) and section 10(a) of that Act. Each year the Fund may be used to give grants to coastal States under section 7505(b) and for the grants described in section 7505(c). No more than 2 percent of the yearly deposits can pay administrative costs, and that 2 percent must be split between the Administrator and the Foundation by agreement. After notice and a chance for a hearing, the Administrator can recover federal payments if the Foundation withdraws or spends Fund money in ways that do not follow section 7504 or fails to follow procedures under section 7505(a)(1).

Title 16, §7503

Conservation — Source: USLM XML via OLRC

(a)The Administrator and the Foundation are authorized to establish the National Oceans and Coastal Security Fund as a tax exempt fund to further the purposes of this chapter.

(b)(1)There shall be deposited into the Fund amounts appropriated or otherwise made available to carry out this chapter.

(2)No amounts donated by a foreign government, as defined in section 7342 of title 5, may be deposited into the Fund.

(c)Any amounts received by the Foundation pursuant to this chapter shall be subject to the provisions of the National Fish and Wildlife Foundation Establishment Act (16 U.S.C. 3701 et seq.), except the provisions of—

(1)section 4(e)(1)(B) of that Act (16 U.S.C. 3703(e)(1)(B)); and

(2)section 10(a) of that Act (16 U.S.C. 3709(a)).

(d)Of the amounts deposited into the Fund for each fiscal year—

(1)funds may be used by the Foundation to award grants to coastal States under section 7505(b) of this title;

(2)funds may be used by the Foundation to award grants under section 7505(c) of this title;

(3)no more than 2 percent may be used by the Administrator and the Foundation for administrative expenses to carry out this chapter, which amount shall be divided between the Administrator and the Foundation pursuant to an agreement reached and documented by both the Administrator and the Foundation.

(e)After notice and an opportunity for a hearing, the Administrator is authorized to recover any Federal payments under this section if the Foundation—

(1)makes a withdrawal or expenditure from the Fund that is not consistent with the requirements of section 7504 of this title; or

(2)fails to comply with a procedure, measure, method, or standard established under section 7505(a)(1) of this title.

Notes & Related Subsidiaries

Editorial Notes

References in Text

The National Fish and Wildlife Foundation Establishment Act, referred to in subsec. (c), is Pub. L. 98–244, Mar. 26, 1984, 98 Stat. 107, which is classified generally to chapter 57 (§ 3701 et seq.) of this title. For complete classification of this Act to the Code, see

Short Title

note set out under section 3701 of this title and Tables.

§7503 National Oceans and Coastal Security Fund