15 U.S.C. § 8715 — Limitations on obligation of funds

(a) In general — In each fiscal year of the "covered period" (defined in (f)), the Board can't obligate more than the sum of: (1) 73 percent of the assessments it estimates it will collect under section 8705 that year; (2) 73 percent of the assessments it actually collected under section 8705 in the most recent year that had an audit report submitted under section 8704(f)(2)(B), minus the estimate already used for that year under (1); and (3) Any amounts allowed to be obligated in earlier years under this subsection that weren't actually obligated. (b) Excess amounts deposited in escrow account — Any assessments collected under section 8705 that go beyond what (a) allows the Board to obligate in a year must be put into an escrow account for as long as the covered period lasts. (c) Treatment of amounts in escrow account — During the covered period, the Board cannot obligate, spend, or borrow against the escrow money required by (b). Interest the escrow earns also goes into the account and stays off-limits for the rest of the covered period. (d) Release of amounts in escrow account — After the covered period ends, the Board may withdraw and obligate, in any one fiscal year, up to one-fifth of whatever was in the escrow account on the covered period's last day. (e) Special rule for estimates for particular fiscal years — (1) Rule — For the 9th and 10th fiscal years listed in (2), the estimate used in (a)(1) is instead 62 percent of the assessments actually collected in the most recent year with an audit report under section 8704(f)(2)(B). (2) Fiscal years specified — Those are the 9th and 10th fiscal years starting on or after October 5, 2018. (f) Covered period defined — The "covered period" runs from October 5, 2018, through the end of the 11th fiscal year that begins on or after that date.