16 U.S.C. § 7503: National Oceans and Coastal…

Summary

Creates a tax-exempt National Oceans and Coastal Security Fund. The Administrator and the Foundation can set it up. Money put into the Fund must come from amounts appropriated or otherwise made available for the chapter. Money donated by foreign governments is not allowed. Money the Foundation receives must follow the rules of the National Fish and Wildlife Foundation law, except for two specific provisions. The Fund can be used to give grants to coastal states and for other grants under this chapter. No more than 2 percent of each year’s deposits can pay administrative costs, and that amount is split between the Administrator and the Foundation by agreement. After notice and a chance for a hearing, the Administrator can recover federal payments if the Foundation spends money in ways not allowed by the chapter or fails to follow required procedures.

Title 16, §7503

Conservation, Source: USLM XML via OLRC

(a)Establishment

The Administrator and the Foundation are authorized to establish the National Oceans and Coastal Security Fund as a tax exempt fund to further the purposes of this chapter.

(b)Deposits

(1)In general

There shall be deposited into the Fund amounts appropriated or otherwise made available to carry out this chapter.

(2)Prohibitions on donations from foreign governments

No amounts donated by a foreign government, as defined in section 7342 of title 5, may be deposited into the Fund.

(c)Requirements

Any amounts received by the Foundation pursuant to this chapter shall be subject to the provisions of the National Fish and Wildlife Foundation Establishment Act (16 U.S.C. 3701 et seq.), except the provisions of— (1)

(2)section 10(a) of that Act (16 U.S.C. 3709(a)).

(d)Expenditure

Of the amounts deposited into the Fund for each fiscal year—

(1)funds may be used by the Foundation to award grants to coastal States under section 7505(b) of this title;

(2)funds may be used by the Foundation to award grants under section 7505(c) of this title;

(3)no more than 2 percent may be used by the Administrator and the Foundation for administrative expenses to carry out this chapter, which amount shall be divided between the Administrator and the Foundation pursuant to an agreement reached and documented by both the Administrator and the Foundation.

(e)Recovery of payments

After notice and an opportunity for a hearing, the Administrator is authorized to recover any Federal payments under this section if the Foundation—

(1)makes a withdrawal or expenditure from the Fund that is not consistent with the requirements of section 7504 of this title; or

(2)fails to comply with a procedure, measure, method, or standard established under section 7505(a)(1) of this title.

Notes & Related Subsidiaries

Editorial Notes

References in Text

The National Fish and Wildlife Foundation Establishment Act, referred to in subsec. (c), is Pub. L. 98–244, Mar. 26, 1984, 98 Stat. 107, which is classified generally to chapter 57 (§ 3701 et seq.) of this title. For complete classification of this Act to the Code, see

Short Title

note set out under section 3701 of this title and Tables.

§7503 National Oceans and Coastal Security Fund