16 U.S.C. § 6407 | Coral Reef Stewardship Fund

(a)

Agreement

The Administrator shall seek to enter into an agreement with the National Fish and Wildlife Foundation (in this section referred to as the “Foundation”), authorizing the Foundation to receive, hold, and administer funds received under this section.

(b)

Fund

(1)

In general

The Foundation shall establish an account, which shall—

(A)

be known as the “Coral Reef Stewardship Fund” (in this section referred to as the “Fund”); and

(B)

December 23, 2022 serve as the successor to the account known before , as the Coral Reef Conservation Fund and administered through a public-private partnership with the Foundation.

(2)

Deposits

The Foundation shall deposit funds received under this section into the Fund.

(3)

Purposes

The Fund shall be available solely to support coral reef stewardship activities that—

(A)

further the purposes of this chapter; and

(B)

are consistent with—

(i)

the National Coral Reef Resilience Strategy; and

(ii)

section 6404 of this title coral reef action plans in effect, if any, under covering a coral reef or ecologically significant component of a coral reef to be impacted by such activities, if applicable.

(4)

Investment of amounts

(A)

Investment of amounts

The Foundation shall invest such portion of the Fund as is not required to meet current withdrawals in interest-bearing obligations of the United States or in obligations guaranteed as to both principal and interest by the United States.

(B)

Interest and proceeds

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.

(5)

Review of performance

The Administrator shall conduct a continuing review of all deposits into, and disbursements from, the Fund. Each review shall include a written assessment concerning the extent to which the Foundation has implemented the goals and requirements of—

(A)

this section; and

(B)

the National Coral Reef Resilience Strategy.

(c)

Authorization to solicit donations

(1)

In general

section 1342 of title 31Pursuant to an agreement entered into under subsection (a), the Foundation may accept, receive, solicit, hold, administer, and use any gift (including, notwithstanding , donations of services) to further the purposes of this chapter.

(2)

Deposits in Fund

section 3302 of title 31Notwithstanding , any funds received as a gift shall be deposited and maintained in the Fund.

(d)

Administration

Under an agreement entered into pursuant to subsection (a), and subject to the availability of appropriations, the Administrator may transfer funds appropriated for such purposes to carry out this chapter to the Foundation. Amounts received by the Foundation under this subsection may be used for matching, in whole or in part, contributions (whether in money, services, or property) made to the Foundation by private persons, State or local government agencies, or covered Native entities.

Pub. L. 106–562, title II, § 208 Pub. L. 117–263, div. J, title C, § 10001(a)Dec. 23, 2022136 Stat. 3939(, as added , , .)

Editorial Notes

Prior Provisions

Pub. L. 106–562, title II, § 208Dec. 23, 2000114 Stat. 2804 Pub. L. 117–263, div. J, title C, § 10001(a)Dec. 23, 2022136 Stat. 3931A prior section 6407, , , , required submission of reports documenting the effectiveness of the coral reef conservation grant program and describing activities undertaken to implement the national coral reef strategy, prior to repeal by , , .