§6604 — Title 16 Conservation | U.S. Code

Summary

The law creates a special Marine Turtle Conservation Fund inside the Multinational Species Conservation Fund. The fund is made up of donations, money Congress puts in the fund, and any interest the fund earns. The Secretary can take donations for turtle work and must send those donations to the Treasury to be put into the fund. The Treasury will send money from the fund to the Secretary when the Secretary asks, without needing extra approval. Each year, no more than 5 percent of the fund’s available money, or up to $150,000 (whichever is greater), may be used for admin costs. Money not needed right away may be invested only in U.S. government interest-paying securities; these can be bought or sold, and any interest or sale proceeds go back into the fund. Transfers from the general Treasury are made at least once a month based on estimates, and later adjusted if the estimates were wrong.

Title 16, §6604

Conservation — Source: USLM XML via OLRC

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

(1)amounts transferred to the Secretary of the Treasury for deposit into the Fund under subsection (e);

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

(4)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)(1)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)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)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