Sec. 904. National Oceans and Coastal Security Fund
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/bill/114/hr/2029/eah/section-904A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Administrator and the Foundation are authorized to establish the National Oceans and Coastal Security Fund as a tax exempt fund to further the purposes of this title. There shall be deposited into the Fund amounts appropriated or otherwise made available to carry out this title. No amounts donated by a foreign government, as defined in section 7342 of title 5, United States Code, may be deposited into the Fund. Any amounts received by the Foundation pursuant to this title shall be subject to the provisions of the National Fish and Wildlife Foundation Establishment Act ( 16 U.S.C. 3701 et seq. ), except the provisions of— section 4(e)(1)(B) of that Act ( 16 U.S.C. 3703(e)(1)(B) ); and section 10(a) of that Act ( 16 U.S.C. 3709(a) ).
Of the amounts deposited into the Fund for each fiscal year— funds may be used by the Foundation to award grants to coastal States under section 906(b); funds may be used by the Foundation to award grants under section 906(c); no more than 2 percent may be used by the Administrator and the Foundation for administrative expenses to carry out this title, which amount shall be divided between the Administrator and the Foundation pursuant to an agreement reached and documented by both the Administrator and the Foundation.
After notice and an opportunity for a hearing, the Administrator is authorized to recover any Federal payments under this section if the Foundation— makes a withdrawal or expenditure from the Fund that is not consistent with the requirements of section 905; or fails to comply with a procedure, measure, method, or standard established under section 906(a)(1).
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