Sec. 204. Allocation of funds under Saltonstall-Kennedy Act
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Section 2(f) of the Act of August 11, 1939 (commonly known as the Saltonstall-Kennedy Act ) ( 15 U.S.C. 713c–3(f) ), is amended— in paragraph (1)— in the matter preceding subparagraph (A)— in the first sentence, by striking all moneys in the fund shall and inserting 25 percent of all moneys transferred to the Secretary under subsection (b)(1) shall ; and in the second sentence, by striking all moneys in the fund, and all that follows through with respect to that fiscal year, and inserting such moneys ; in subparagraph (A)— by striking use no less than 60 per centum of such moneys and inserting make available not less than 75 percent of such moneys, equal to 18.75 percent of all moneys transferred to the Secretary under subsection (b)(1), ; by inserting under the Saltonstall-Kennedy competitive grant program of the National Oceanic and Atmospheric Administration after grants ; and by striking ; and and inserting a semicolon; by redesignating subparagraph
(B)as subparagraph (C); and by inserting after subparagraph
(A)the following: the Secretary shall make available not less than 20 percent of such moneys, equal to 5 percent of all moneys transferred to the Secretary under subsection (b)(1), to carry out the Young Fishermen’s Development Act ( 33 U.S.C. 1141 et seq. ); and ; and in paragraph (2), by striking $3,000,000 and inserting $10,000,000 .
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- 15 USC 713c–3(f)
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