43 U.S.C. § 1842 — Fishermen’s Contingency Fund
submitted 48 years ago by Pub. L. 95-372 to r/title-43-PUBLIC-LANDS · 491 words · no verdicts yet
This section creates the Fishermen’s Contingency Fund and controls its money, payments, investments, litigation, and administration. It also requires certain Outer Continental Shelf lease and permit holders to pay into the Fund, subject to a yearly cap.
(a) Fund.
(1) The Treasury must maintain a Fishermen’s Contingency Fund. It is a revolving fund available to the Secretary without fiscal-year limits for payments under this section. It consists of investment revenue, amounts collected under subsection (b), and amounts recovered under section 1845(h)(2). Amounts collected under subsection (b) may not exceed $2,000,000 in total. Investment revenue and recoveries must be spent before subsection (b) collections. No more than 8 percent of the Fund may be spent in a fiscal year on the personnel and administrative expenses in paragraph (2)(A).
(2) Subject to appropriations, the Fund may pay only personnel and administrative expenses for this subchapter, compensable damage claims under it, and attorney or other fees awarded under section 1845(e) for such claims.
(3) Money not currently needed must be held in interest-bearing accounts established by the Treasury Secretary or invested in U.S. obligations or obligations guaranteed by the United States. The resulting revenue goes into the Fund.
(4) The Fund may sue and be sued in its own name. The Attorney General handles all litigation for or against it.
(b) Payments by lease, permit, easement, and right-of-way holders.
(1) Unless paragraph (2) applies, each holder of an Outer Continental Shelf lease and each holder of an exploration permit, pipeline easement, or pipeline right-of-way in the Outer Continental Shelf must pay an amount set by the Secretary. The Interior Secretary collects and deposits it in the Fund. In one calendar year, the payment may not exceed $5,000 for each lease, permit, easement, or right-of-way.
(2) The Interior Secretary may not require payment for geological or geophysical permits, except prelease exploratory-drilling permits issued under section 11 of the Outer Continental Shelf Lands Act.
There is established in the Treasury of the United States a Fishermen’s Contingency Fund. The Fund shall be available to the Secretary without fiscal year limitations as a revolving fund for the purpose of making payments pursuant to this section. The Fund shall consist of—
revenues received from investments made under paragraph (3);
amounts collected under subsection (b); and
amounts recovered by the Secretary under section 1845(h)(2) of this title.
The total amount in the Fund that is collected under subsection (b) may at no time exceed $2,000,000; and the total amount in the Fund which is attributable to revenue received under paragraph (3) or recovered by the Secretary under section 1845(h)(2) of this title shall be expended prior to amounts collected under subsection (b). Not more than 8 percent of the total amount in the Fund may be expended in any fiscal year for paying the administrative and personnel expenses referred to in paragraph (2)(A).
The Fund shall be available, as provided for in appropriation Acts solely for the payment of—
the personnel and administrative expenses incurred in carrying out this subchapter;
any claim, in accordance with procedures established under this section, for damages that are compensable under this subchapter; and
attorney and other fees awarded under section 1845(e) of this title with respect to any such claim.
Sums in the Fund that are not currently needed for the purposes of the Fund shall be kept on deposit in appropriate interest-bearing accounts that shall be established by the Secretary of the Treasury or invested in obligations of, or guaranteed by, the United States. Any revenue accruing from such deposits and investments shall be deposited into the Fund.
The Fund may sue and be sued in its own name. All litigation by or against the Fund shall be referred to the Attorney General.
Except as provided in paragraph (2), each holder of a lease that is issued or maintained under the Outer Continental Shelf Lands Act [43 U.S.C. 1331 et seq.] and each holder of an exploration permit, or an easement or right-of-way for the construction of a pipeline in any area of the Outer Continental Shelf, shall pay an amount specified by the Secretary. The Secretary of the Interior shall collect such amount and deposit it into the Fund. In any calendar year, no holder of a lease, permit, easement, or right-of-way shall be required to pay an amount in excess of $5,000 per lease, permit, easement, or right-of-way.
Payments may not be required under paragraph (1) by the Secretary of the Interior with respect to geological permits and geophysical permits, other than prelease exploratory drilling permits issued under section 11 of the Outer Continental Shelf Lands Act (43 U.S.C. 1340).
Source credit: (Pub. L. 95–372, title IV, § 402, Sept. 18, 1978, 92 Stat. 686; Pub. L. 97–212, § 2, June 30, 1982, 96 Stat. 143.)
- 1978Enacted · Pub. L. 95-372 · 92 Stat. 686
- 1982Amended · Pub. L. 97-212 · 96 Stat. 143
A history note hasn’t been published yet. The record shows enactment by Pub. L. 95-372 on 1978-09-18.
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