Sec. 5. Establishment of Coral Reef Conservation Fund
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The Coral Reef Conservation Act of 2000 ( 16 U.S.C. 6401 et seq.) is amended by adding at the end the following: There is established in the Treasury the Coral Reef Conservation Fund, hereafter referred to as the Fund. For each fiscal year, there shall be deposited in the Fund the portion of such revenues due and payable to the United States under subsection (b)(2) of section 9 of the Outer Continental Shelf Lands Act ( 43 U.S.C. 1338 ). Amounts deposited in the Fund under this section and appropriated to the Secretary of Commerce under subsection
(f)shall be used by the Secretary of Commerce to carry out the Coral Reef Conservation Act of 2000 ( 16 U.S.C. 6401 et seq.), with priority given to carrying out sections 204 and 206 of such Act ( 16 U.S.C. 6403 and 6405). Amounts deposited in the Fund shall remain in the Fund until appropriated by Congress. The President shall include with the proposed budget for the United States Government submitted to Congress for a fiscal year a comprehensive statement of deposits into the Fund during the previous fiscal year and estimated requirements during the following fiscal year for appropriations from the Fund. There are authorized to be appropriated from the Fund to the Secretary of Commerce, an amount equal to the amount deposited in the Fund in the previous fiscal year. Appropriations from the Fund pursuant to this section may be made without fiscal year limitation. . Section 205 of the Coral Reef Conservation Act of 2000 ( 16 U.S.C. 6404 ) is amended— in the heading, by striking and inserting Coral reef conservation fund ; Coral Reef Public-Private Partnership in subsection (a)— in the subsection heading, by striking and inserting Fund ; and Public-Private Partnership by striking , hereafter referred to as the Fund, ; and in subsection (b), by striking Fund and inserting separate interest bearing account .
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