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16 U.S.C. § 6304Great Ape Conservation Fund

submitted 26 years ago by Pub. L. 106-411 to r/title-16-CONSERVATION · 423 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section creates the Great Ape Conservation Fund as an account within the Multinational Species Conservation Fund. It governs deposits, assistance payments, administrative spending, investments, transfers, and donations.

(a) Establishment. A separate account called the “Great Ape Conservation Fund” is established in the Multinational Species Conservation Fund. It consists of (1) amounts transferred for Treasury deposit under subsection (e), (2) amounts appropriated under section 6305, and (3) investment interest under subsection (c). (b) Expenditures. (1) Subject to paragraph (2), when the Secretary requests it, the Treasury Secretary must transfer from the Fund to the Secretary, without another appropriation, amounts the Secretary decides are needed for assistance under section 6303. (2) Each fiscal year, the Secretary may use no more than 3 percent or $150,000, whichever is greater, for necessary administrative expenses. (c) Investment. (1) The Treasury Secretary must invest the part of the Fund not needed, in the Secretary’s judgment, for current withdrawals. Investments may be only interest-bearing United States obligations. (2) Obligations may be bought at original issue for the issue price or by purchasing outstanding obligations at market price. (3) The Treasury Secretary may sell Fund obligations at market price. (4) Interest and proceeds from selling or redeeming obligations belong to and become part of the Fund. (d) Transfers. (1) Amounts required under this section must be transferred at least monthly from the Treasury’s general fund to the Fund based on Treasury Secretary estimates. (2) Later transfers must be adjusted if earlier estimates were too high or too low. (e) Donations. The Secretary may accept and use donations for assistance under section 6303. Donations received must be transferred to the Treasury Secretary for deposit in the Fund.
the actual law source: uscode.house.gov ↗public domain
(a) Establishment

There is established in the Multinational Species Conservation Fund a separate account to be known as the “Great Ape Conservation Fund”, consisting of—

(1)

amounts transferred to the Secretary of the Treasury for deposit into the Fund under subsection (e);

(2)

amounts appropriated to the Fund under section 6305 of this title; and

(3)

any interest earned on investment of amounts in the Fund under subsection (c).

(b) Expenditures from Fund
(1) In general

Subject to paragraph (2), upon request by the Secretary, the Secretary of the Treasury shall transfer from the Fund to the Secretary, without further appropriation, such amounts as the Secretary determines are necessary to provide assistance under section 6303 of this title.

(2) Administrative expenses

Of the amounts in the account available for each fiscal year, the Secretary may expend not more than 3 percent, or up to $150,000, whichever is greater, to pay the administrative expenses necessary to carry out this chapter.

(c) Investment of amounts
(1) In general

The Secretary of the Treasury shall invest such portion of the Fund as is not, in the judgment of the Secretary of the Treasury, required to meet current withdrawals. Investments may be made only in interest-bearing obligations of the United States.

(2) Acquisition of obligations

For the purpose of investments under paragraph (1), obligations may be acquired—

(A)

on original issue at the issue price; or

(B)

by purchase of outstanding obligations at the market price.

(3) Sale of obligations

Any obligation acquired by the Fund may be sold by the Secretary of the Treasury at the market price.

(4) Credits to Fund

The interest on, and the proceeds from the sale or redemption of, any obligations held in the Fund shall be credited to and form a part of the Fund.

(d) Transfers of amounts
(1) In general

The amounts required to be transferred to the Fund under this section shall be transferred at least monthly from the general fund of the Treasury to the Fund on the basis of estimates made by the Secretary of the Treasury.

(2) Adjustments

Proper adjustment shall be made in amounts subsequently transferred to the extent prior estimates were in excess of or less than the amounts required to be transferred.

(e) Acceptance and use of donations

The Secretary may accept and use donations to provide assistance under section 6303 of this title. Amounts received by the Secretary in the form of donations shall be transferred to the Secretary of the Treasury for deposit into the Fund.

Source credit: (Pub. L. 106–411, § 5, Nov. 1, 2000, 114 Stat. 1793; Pub. L. 109–363, title VII, § 702, Oct. 17, 2006, 120 Stat. 2082; Pub. L. 116–9, title VII, § 7001(c)(2)(C), Mar. 12, 2019, 133 Stat. 785.)

history & why it existsrecord from the source credit
  • 2000Enacted · Pub. L. 106-411 · 114 Stat. 1793
  • 2006Amended · Pub. L. 109-363 · 120 Stat. 2082
  • 2019Amended · Pub. L. 116-9 · 133 Stat. 785

A history note hasn’t been published yet. The record shows enactment by Pub. L. 106-411 on 2000-11-01.

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