Sec. 333. Grants to States; repayment

160 words·~1 min read·/bill/115/hr/6746/ih/section-333

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

There is hereby authorized to be appropriated $50,000,000 to the Director for the establishment of a fund to be administered by the Agency for providing grants to States, on application to the Agency, to facilitate participation in the Repository by any depositor or participant or class of depositors or participants, or any other person upon appropriate demonstration to the Agency that such a grant would assist in the accomplishment of the purposes of this subtitle. Any such amounts appropriated and not granted by the Agency within five years of the date of the enactment of this Act shall be returned to the Treasury of the United States.

The Director shall cause to be collected from the Exchange and deposit in the Treasury of the United States an amount equal to the aggregate amount provided as grants to States pursuant to subsection

(a)within the 10-year period beginning on the date that the first grant is made pursuant to subsection (a).