Sec. 202. Establishment of Fund
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There is established in the Treasury of the United States a separate account, to be administered by the Secretary of Commerce (acting through the Economic Development Administration), to be known as the Coal Area Economic Revitalization Fund . Of the amount of royalty revenues collected by the United States for each fiscal year from coal leases under section 7 of the Mineral Leasing Act ( 30 U.S.C. 207 ) (as amended by section 101(2)), to the extent the revenues are available, there shall be deposited in the Fund $105,000,000. Subject to subsection
(d)and notwithstanding any other provision of law, for each fiscal year, of the amounts deposited in the Fund under subsection (b), there shall be made available, without further appropriation, the following or a pro rata amount: $100,000,000 to the Secretary of Commerce to provide grant assistance under covered programs, in accordance with section 203. $5,000,000 to the Secretary of Energy to provide funding for large-scale projects to capture and store carbon dioxide emissions from industrial sources, in accordance with section 204. A participating agency may not use not more than 2 percent of the amount the agency receives for each fiscal year to cover the administrative expenses of the participating agency in carrying out the covered program. The amounts deposited in the Fund shall be available without fiscal year limitation.
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Sec. 202
Establishment of Fund
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