Sec. 126. Multilateral Telecommunications Security Fund
369 words·~2 min read·
/bill/116/s/4629/is/section-126·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
There is established in the Treasury of the United States a trust fund to be known as the Multilateral Telecommunications Security Fund . Amounts deposited in the Multilateral Telecommunications Security Fund shall be available to the Secretary of State to make expenditures under this subsection in such amounts as the Secretary determines appropriate. Amounts deposited in the Multilateral Telecommunications Security Fund— shall remain available through the end of the tenth fiscal year beginning after the date of the enactment of this Act; and may only be allocated upon the Secretary of State reaching an agreement with foreign government partners to participate in the common funding mechanism described in subsection (b).
Any amounts remaining in the Multilateral Telecommunications Security Fund after the end of the tenth fiscal year beginning after the date of enactment of this Act shall be deposited in the general fund of the Treasury. The Secretary of State, in consultation with the National Telecommunications and Information Administration Administrator, the Secretary of Homeland Security, the Secretary of the Treasury, and the Director of National Intelligence, shall establish a common funding mechanism, in coordination with foreign partners, that uses amounts from the Multilateral Telecommunications Security Fund to support the development and adoption of secure and trusted telecommunications technologies.
Not later than one year after the date of the enactment of this Act, and annually thereafter for each fiscal year during which amounts in the Multilateral Telecommunications Security Fund are available, the Secretary of State shall submit to the appropriate congressional committees a report on the status and progress of the funding mechanism established under subsection (b), including— any funding commitments from foreign partners, including each specific amount committed; governing criteria for use of the Multilateral Telecommunications Security Fund; an account of— how funds have been deployed, including to whom they have been provided; amounts remaining in the Multilateral Telecommunications Security Fund; and the progress of the Secretary in meeting the objective described in subsection (b); and additional authorities needed to enhance the effectiveness of the Multilateral Telecommunications Security Fund in achieving the security goals of the United States.
There is authorized to be appropriated to carry out this section $500,000,000 for the period of fiscal years 2021 through 2026.