16 U.S.C. § 6409 | Coral Reef Disaster Fund

(a)

Agreements

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, to be known as the “Coral Reef Disaster Fund” (in this section referred to as the “Fund”).

(2)

Deposits

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

(3)

Purposes

section 6408(b) of this titleThe Fund shall be available solely to support the long-term recovery of coral reefs from exigent circumstances described in —

(A)

in partnership with non-Federal stakeholders; and

(B)

in a manner that is 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 .

(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 continuing reviews of all deposits into, and disbursements from, the Fund. Each such review shall include a written assessment concerning the extent to which the Foundation has implemented the goals and requirements of this section.

(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.

Pub. L. 106–562, title II, § 210 Pub. L. 117–263, div. J, title C, § 10001(a)Dec. 23, 2022136 Stat. 3941(, as added , , .)

Editorial Notes

Prior Provisions

Pub. L. 106–562, title II, § 210Dec. 23, 2000114 Stat. 2805 Pub. L. 117–263, div. J, title C, § 10001(a)Dec. 23, 2022136 Stat. 3931A prior section 6409, , , , provided definitions for the chapter, prior to repeal by , , .