Title 16 — Conservation
Chapter 94 — National Oceans and Coastal Security
§ 7503. National Oceans and Coastal Security Fund
Statutory text
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.
Deposits
In general
There shall be deposited into the Fund amounts appropriated or otherwise made available to carry out this chapter.
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.
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—
section 4(e)(1)(B) of that Act (16 U.S.C. 3703(e)(1)(B)); and
section 10(a) of that Act (16 U.S.C. 3709(a)).
Expenditure
Of the amounts deposited into the Fund for each fiscal year—
funds may be used by the Foundation to award grants to coastal States under section 7505(b) of this title;
funds may be used by the Foundation to award grants under section 7505(c) of this title;
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.
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—
makes a withdrawal or expenditure from the Fund that is not consistent with the requirements of section 7504 of this title; or
fails to comply with a procedure, measure, method, or standard established under section 7505(a)(1) of this title.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
National Oceans and Coastal Security Act
Pub. L. 114–113 div. O title IX § 904 · 129 Stat. 2242
Enacted · 16 U.S.C. § 7503
(Pub. L. 114–113, div. O, title IX, § 904, Dec. 18, 2015, 129 Stat. 3031.)
Source evidence
Code source credit
(Pub. L. 114–113, div. O, title IX, § 904, Dec. 18, 2015, 129 Stat. 3031.)Enacted provision · exact public law section
SEC. 904. NATIONAL OCEANS AND COASTAL SECURITY FUND. (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 title. (b) Deposits.— (1) In general.— There shall be deposited into the Fund amounts appropriated or otherwise made available to carry out this title. (2) Prohibitions on donations from foreign governments.— No amounts donated by a foreign government, as defined in section 7342 of title 5, United States Code, may be deposited into the Fund. (c) Requirements.— Any amounts received by the Foundation pursuant to this title 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) section 4(e)(1)(B) of that Act (16 U.S.C. 3703(e)(1)(B)); and (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 906(b); (2) funds may be used by the Foundation to award grants under section 906(c); (3) no more than 2 percent may be used by the Administrator and the Foundation for administrative expenses to carry out this title, 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 905; or (2) fails to comply with a procedure, measure, method, or standard established under section 906(a)(1).
1 of 1 references resolved to an enrolled provision
Editorial Notes
References in Text
The National Fish and Wildlife Foundation Establishment Act, referred to in subsec. (c), is Pub. L. 98–244, , 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.
Credits
(Pub. L. 114–113, div. O, title IX, § 904, , 129 Stat. 3031.)