§6409 Coral Reef Disaster Fund

Summary

The Administrator must make an agreement with the National Fish and Wildlife Foundation so the Foundation can take in and manage money for coral reef recovery. The Foundation must create an account called the “Coral Reef Disaster Fund” and put all money it gets under this law into that account. The Fund can only be used for long-term recovery of coral reefs from the emergencies listed in section 6408(b). Work paid from the Fund must be done with non-Federal partners and follow the National Coral Reef Resilience Strategy and any coral reef action plans under section 6404. Money not needed right away must be invested in U.S. government obligations, and any interest or sale proceeds stay in the Fund. The Administrator must regularly review deposits and spending and write an assessment of how well the Foundation is meeting the goals. Under the agreement, the Foundation may accept gifts, including donated services despite section 1342 of title 31, and any gifts must be deposited into the Fund despite section 3302 of title 31.