§6407 Coral Reef Stewardship Fund

Summary

The Administrator must make an agreement with the National Fish and Wildlife Foundation so the Foundation can receive, hold, and manage money under this law. The Foundation will set up an account called the Coral Reef Stewardship Fund. That account replaces the Coral Reef Conservation Fund that existed before December 23, 2022. Money given under the law must go into the Fund. The Fund can only pay for coral reef stewardship work that supports the chapter’s goals and matches the National Coral Reef Resilience Strategy and any coral reef action plans in effect for the reefs involved. The Foundation may invest unused money in U.S. government-backed securities, and any interest or sale proceeds stay in the Fund. The Administrator will regularly review deposits, spending, and how well the Foundation meets the goals. Under the agreement, the Foundation may accept gifts (including donated services) and must keep them in the Fund. Subject to available appropriations, the Administrator may transfer appropriated money to the Foundation. The Foundation may use those amounts to match contributions from private people, state or local agencies, or covered Native entities.