20 U.S.C. § 5607a | Environmental Dispute Resolution Fund

(a)

Establishment

section 5609(b) of this title section 5607b of this titleThere is established in the Treasury of the United States an Environmental Dispute Resolution Fund to be administered by the Foundation. The Fund shall consist of amounts appropriated to the Fund under and amounts paid into the Fund under .

(b)

Expenditures

The Foundation shall expend from the Fund such sums as the Board determines are necessary to establish and operate the National Center, including such amounts as are necessary for salaries, administration, the provision of mediation and other services, and such other expenses as the Board determines are necessary, including not to exceed $1,000 annually for official reception and representation expenses.

(c)

Distinction from Trust Fund

section 5606 of this titleThe Fund shall be maintained separately from the Trust Fund established under .

(d)

Investment of amounts

(1)

In general

The Secretary of the Treasury shall invest such portion of the Fund as is not, in the judgment of the Secretary, required to meet current withdrawals.

(2)

Interest-bearing obligations

Investments may be made only in interest-bearing obligations of the United States.

(3)

Acquisition of obligations

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.

(4)

Sale of obligations

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

(5)

Credits to Fund

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.

Pub. L. 102–259, § 10 Pub. L. 105–156, § 6(b)Feb. 11, 1998112 Stat. 10 Pub. L. 105–277, div. A, § 101(h) [title V, § 517(c)]Oct. 21, 1998112 Stat. 2681–480 Pub. L. 116–94, div. P, title III, § 306Dec. 20, 2019133 Stat. 3190(, as added , , ; amended , , , 2681–512; , , .)

Editorial Notes

Prior Provisions

section 10 of Pub. L. 102–259 section 5608 of this titleA prior was renumbered section 12 and is classified to .

Amendments

Pub. L. 116–942019—Subsec. (b). substituted “National Center” for “Institute”.

Pub. L. 105–2771998—Subsec. (b). inserted before period at end “, including not to exceed $1,000 annually for official reception and representation expenses”.