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Code · BILL · 113th Congress · H.R. 4435 (Reported in House) — To authorize appropriations for fiscal year 2015 for military activities of the Department of Defense and for militar... · Sec. 1022

Sec. 1022. National Sea-Based Deterrence Fund

415 words·~2 min read·/bill/113/hr/4435/rh/section-1022·

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Chapter 131 of title 10, United States Code, is amended by inserting after section 2218 the following new section: There is established in the Treasury a fund to be known as the National Sea-Based Deterrence Fund . The Secretary of Defense shall administer the Fund consistent with the provisions of this section. Funds in the Fund shall be available for obligation and expenditure only for the advanced procurement or construction of nuclear-powered strategic ballistic missile submarines.
Funds in the Fund may not be used for a purpose or program unless the purpose or program is authorized by law. There shall be deposited in the Fund all funds appropriated to the Department of Defense for fiscal years after fiscal year 2016 for the advanced procurement or construction of nuclear-powered strategic ballistic missile submarines. No part of an appropriation that is deposited in the Fund pursuant to subsection
(d)shall remain available for obligation more than 10 years after the end of the fiscal year for which appropriated except to the extent specifically provided by law. Budget requests submitted to Congress for the Fund shall separately identify the amount requested for programs, projects, and activities for the construction (including the design of vessels) of nuclear-powered strategic ballistic missile submarines. In this section: The term Fund means the National Sea-Based Deterrence Fund established by subsection (a). The term nuclear-powered strategic ballistic missile submarine means any nuclear-powered submarine owned, operated, or controlled by the Department of Defense with the primary mission of launching nuclear-armed ballistic missiles. . The table of sections at the beginning of such chapter is amended by inserting after the item relating to section 2218 the following new item: 2218a. National sea-based deterrence fund. . Subject to paragraph (2), and to the extent provided in appropriations Acts, the Secretary of Defense may transfer to the National Sea-Based Deterrence Fund established by section 2218a of title 10, United States Code, as added by subsection (a)(1), amounts not to exceed $3,500,000,000 from unobligated funds authorized to be appropriated for fiscal years 2014, 2015, or 2016 for the Navy for shipbuilding and conversion, Navy, for the advanced procurement or construction, purchase, or alteration of nuclear-powered strategic ballistic missile submarines. The transfer authority provided under this paragraph is in addition to any other transfer authority provided to the Secretary of Defense by law. Funds transferred to the National Sea-Based Deterrence Fund pursuant to paragraph
(1)shall remain available for the same period for which the transferred funds were originally appropriated.
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