Fund
One half of the amounts awarded by the Supreme Court to the United States in the case of United States of America v. State of Alaska (117 S.Ct. 1888) shall be deposited in a fund in the Treasury of the United States to be known as the “Environmental Improvement and Restoration Fund” (referred to in this section as the “Fund”).
Investments
In general
The Secretary of the Treasury shall invest amounts in the Fund in interest bearing obligations of the United States.
Acquisition of obligations
Sale of obligations
Any obligations acquired by the Fund may be sold by the Secretary of the Treasury at the market price.
Credits to Fund
The interest earned from investments of the Fund shall be covered into and form a part of the Fund.
Transfer and availability of amounts earned
Projects
A project referred to in subsection (c)(1) shall be consistent with the laws governing the National Park System, the National Wildlife Refuge System, the public lands and Forest Service lands and management plan for such unit.
Marine research activities
Pub. L. 105–83, title IV, § 401111 Stat. 1607Pub. L. 105–277, div. A, § 101(e) [title III, § 331]112 Stat. 2681–231Pub. L. 106–113, div. B, § 1000(a)(3) [title III, § 352(a)]113 Stat. 1535Pub. L. 106–554, § 1(a)(4) [div. B, title I, § 144(c)(2)]114 Stat. 2763Pub. L. 108–7, div. F, title III, § 334117 Stat. 277Pub. L. 119–60, div. H, title LXXXIV, § 8431(b)139 Stat. 1919(, , ; , , , 2681–293; , , , 1501A–209; , , , 2763A–239; , , ; , , .)
Editorial Notes
Amendments
Pub. L. 119–60, § 8431(b)(1)(E)2025—Subsec. (e)(3). , inserted “Board members appointed under subparagraphs (N) and (O) shall serve for 3-year terms, and may be reappointed once.” at end of concluding provisions.
Pub. L. 119–60, § 8431(b)(1)(A)Subsec. (e)(3)(L). , struck out “and” after semicolon.
Pub. L. 119–60, § 8431(b)(1)(B)Subsec. (e)(3)(O). —(D), added subpar. (O).
Pub. L. 119–60, § 8431(b)(2)Subsec. (e)(5), (6). , (3), added par. (5) and redesignated former par. (5) as (6).
Pub. L. 108–72003—Subsec. (e)(4)(B). substituted “15 percent” for “5 percent”.
Pub. L. 106–554, § 1(a)(4) [div. B, title I, § 144(c)(2)(A)]2000—Subsec. (e)(2). , struck out “and recommended for Secretarial approval” after “shall be reviewed”.
Pub. L. 106–554, § 1(a)(4) [div. B, title I, § 144(c)(2)(B)]Subsec. (e)(3)(A). , struck out “, who shall be a co-chair of the Board” before semicolon at end.
Pub. L. 106–554, § 1(a)(4) [div. B, title I, § 144(c)(2)(C)]Subsec. (e)(3)(F). , which directed amendment of subpar. (F) by striking out “, who shall be a co-chair of the Board”, was executed by striking out “, who shall also be a co-chair of the Board” before semicolon at end to reflect the probable intent of Congress.
Pub. L. 106–554, § 1(a)(4) [div. B, title I, § 144(c)(2)(G)]Subsec. (e)(3)(N). , which directed amendment of par. (3) by adding subpar. (N) at the end, was executed by adding subpar. (N) after subpar. (M), to reflect the probable intent of Congress.
Pub. L. 106–554, § 1(a)(4) [div. B, title I, § 144(c)(2)(D)]Subsec. (e)(4)(A). , struck out “and administer” after “shall review”.
Pub. L. 106–554, § 1(a)(4) [div. B, title I, § 144(c)(2)(E)]Subsec. (e)(4)(B). , struck out “Grant recommendations and other decisions of the Board shall be by majority vote, with each member having one vote.” after “(B)”.
Pub. L. 106–554, § 1(a)(4) [div. B, title I, § 144(c)(2)(F)]Subsec. (e)(5). , added par. (5).
Pub. L. 106–113, § 1000(a)(3) [title III, § 352(a)(1)]1999—Subsec. (c). , substituted “made available” for “available for appropriation, to the extent provided in the subsequent appropriations Acts,” in introductory provisions, inserted “To the extent provided in the subsequent appropriations Acts,” before “80 percent of such amounts” in par. (1), and “without further appropriation” after “20 percent of such amounts shall be made available” in par. (2).
Pub. L. 106–113, § 1000(a)(3) [title III, § 352(a)(2)]Subsec. (f). , struck out heading and text of subsec. (f). Text read as follows: “If amounts are not assumed by the concurrent budget resolution and appropriated from the Fund by , the Fund shall terminate and the amounts in the Fund including the accrued interest shall be applied to reduce the Federal deficit.”
Pub. L. 105–2771998—Subsec. (f). substituted “1999” for “1998”.
Statutory Notes and Related Subsidiaries
Waiver
Pub. L. 119–60, div. H, title LXXXIV, § 8431(c)139 Stat. 1920
Transfer of Functions
section 542 of Title 6For transfer of authorities, functions, personnel, and assets of the Coast Guard, including the authorities and functions of the Secretary of Transportation relating thereto, to the Department of Homeland Security, and for treatment of related references, see sections 468(b), 551(d), 552(d), and 557 of Title 6, Domestic Security, and the Department of Homeland Security Reorganization Plan of , as modified, set out as a note under .