View all text of Chapter 94 [§ 7501 - § 7507]
§ 7503. National Oceans and Coastal Security Fund
(a) Establishment
(b) Deposits
(1) In general
(2) Prohibitions on donations from foreign governments
(c) Requirements
Any amounts received by the Foundation pursuant to this chapter shall be subject to the provisions of the National Fish and Wildlife Foundation Establishment Act (16 U.S.C. 3701 et seq.), except the provisions of—
(1) section 4(e)(1)(B) of that Act (16 U.S.C. 3703(e)(1)(B)); and
(2) section 10(a) of that Act (16 U.S.C. 3709(a)).
(d) Expenditure
Of the amounts deposited into the Fund for each fiscal year—
(1) funds may be used by the Foundation to award grants to coastal States under section 7505(b) of this title;
(2) funds may be used by the Foundation to award grants under section 7505(c) of this title;
(3) no more than 2 percent may be used by the Administrator and the Foundation for administrative expenses to carry out this chapter, which amount shall be divided between the Administrator and the Foundation pursuant to an agreement reached and documented by both the Administrator and the Foundation.
(e) Recovery of payments
(1) makes a withdrawal or expenditure from the Fund that is not consistent with the requirements of section 7504 of this title; or
(2) fails to comply with a procedure, measure, method, or standard established under section 7505(a)(1) of this title.
(Pub. L. 114–113, div. O, title IX, § 904, Dec. 18, 2015, 129 Stat. 3031.)