16 U.S.C. § 6604: Marine Turtle Conservation…

Summary

Creates a Marine Turtle Conservation Fund inside the Multinational Species Conservation Fund. The fund holds three kinds of money: transfers to the Treasury from donations, amounts Congress appropriates under section 6606(a), and any interest earned on investments. The Secretary can ask the Treasury to transfer money from the fund to carry out marine turtle conservation work under section 6603. Each year the Secretary may spend up to 5 percent of the fund, or up to $150,000 (whichever is greater), for necessary administrative costs. The Treasury must invest money not needed for current use only in U.S. interest‑bearing government securities. It may buy new issues or existing ones and may sell them later. Interest and sale proceeds go back into the fund. Money must be moved into the fund at least monthly from the Treasury general fund based on Treasury estimates, with later corrections if estimates were off. The Secretary may accept donations and must send donated money to the Treasury to be put into the fund.

Title 16, §6604

Conservation, Source: USLM XML via OLRC

(a)Establishment

There is established in the Multinational Species Conservation Fund a separate account to be known as the “Marine Turtle Conservation Fund”, consisting of— (1)

(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)Expenditures from Fund

(1)In general

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)Administrative expenses

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)Investment of amounts

(1)In general

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)Acquisition of obligations

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)Sale of obligations

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

(4)Credits to Fund

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)Transfers of amounts

(1)In general

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)Adjustments

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)Acceptance and use of donations

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