§6407 Coral Reef Stewardship Fund

Summary

The Administrator must try to make a deal with the National Fish and Wildlife Foundation so the Foundation can receive, hold, and manage money. The Foundation will set up the Coral Reef Stewardship Fund, which replaces the Coral Reef Conservation Fund that existed before December 23, 2022. Money put into the Fund can only be used for coral reef stewardship work that supports the goals of the chapter and follows the National Coral Reef Resilience Strategy and any applicable coral reef action plans under section 6404. The Foundation must invest money it does not need right away in U.S. government securities, and any interest or sale proceeds go back into the Fund. The Administrator will regularly review deposits and payments and write a report on how well the Foundation meets the law’s goals and the Resilience Strategy. The Foundation may accept gifts, including donated services, and must keep gift money in the Fund. If funds are appropriated, the Administrator may transfer them to the Foundation, and the Foundation can use those amounts to match contributions from private people, state or local agencies, or covered Native entities.