[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 5012 Reported in Senate (RS)]
<DOC>
Calendar No. 642
118th CONGRESS
2d Session
S. 5012
To establish an interest-bearing account for the non-Federal
contributions to the Lower Colorado River Multi-Species Conservation
Program, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
September 10, 2024
Mr. Padilla (for himself, Ms. Butler, Ms. Sinema, Ms. Cortez Masto, and
Mr. Kelly) introduced the following bill; which was read twice and
referred to the Committee on Energy and Natural Resources
November 21, 2024
Reported by Mr. Manchin, with an amendment
[Omit the part struck through and insert the part printed in italic]
_______________________________________________________________________
A BILL
To establish an interest-bearing account for the non-Federal
contributions to the Lower Colorado River Multi-Species Conservation
Program, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Lower Colorado River Multi-Species
Conservation Program Amendment Act of 2024''.
SEC. 2. INTEREST-BEARING FUND.
Section 9402 of the Omnibus Public Land Management Act of 2009
(Public Law 111-11; 123 Stat. 1328) is amended by adding at the end the
following:
``(c) Interest-Bearing Account for Non-Federal Contributions.--
``(1) Definitions.--In this subsection:
``(A) Agreement.--The term `Agreement' means the
agreement entitled the `Lower Colorado River Multi-
Species Conservation Program Funding and Management
Agreement' and dated April 4, 2005.
``(B) Fund.--The term `Fund' means the Non-Federal
Funding Account for the Lower Colorado River Multi-
Species Conservation Program established by paragraph
(2).
``(C) Non-federal contribution.--The term `non-
Federal contribution' means an amount contributed by a
State Party for the non-Federal cost share described in
section 8 of the Agreement.
``(D) State party.--The term `State Party' has the
meaning given the term in section 3 of the Agreement.
``(2) Establishment.--There is established in the Treasury
of the United States a fund, to be known as the `Non-Federal
Funding Account for the Lower Colorado River Multi-Species
Conservation Program', consisting of--
``(A) any amounts deposited in the Fund under
paragraph (3); and
``(B) any interest earned on investment of amounts
in the Fund under paragraph (4).
``(3) Deposits to fund.--
``(A) In general.--Pursuant to section 8.4 of the
Agreement, the Secretary of the Treasury shall deposit
in the Fund--
``(i) any unexpended non-Federal
contributions provided before the date of
enactment of this subsection; and
``(ii) any non-Federal contributions
provided on or after the date of enactment of
this subsection.
``(B) Availability of amounts; expenditure.--
Amounts deposited in the Fund under subparagraph (A)
and any interest on those amounts in the Fund shall be
made available to the Secretary, without further
appropriation, for expenditure--
``(i) as provided in the Program Documents;
and
``(ii) in accordance with this section.
<DELETED> ``(4) Investment of amounts.--</DELETED>
<DELETED> ``(A) In general.--The Secretary may
request the Secretary of the Treasury to invest any
portion of the Fund that is not, as determined by the
Secretary, required to meet the current needs of the
Fund.</DELETED>
<DELETED> ``(B) Requirement.--An investment
requested under subparagraph (A) shall be made by the
Secretary of the Treasury in a public debt security--
</DELETED>
<DELETED> ``(i) with a maturity suitable to
the needs of the Fund, as determined by the
Secretary; and</DELETED>
<DELETED> ``(ii) bearing interest at a rate
determined by the Secretary of the Treasury,
taking into consideration current market yields
on outstanding marketable obligations of the
United States of comparable maturity.</DELETED>
<DELETED> ``(C) Credits to fund.--The income on
investments of the Fund under this paragraph shall be
credited to, and form a part of, the Fund.</DELETED>
``(4) Investment of amounts.--
``(A) In general.--The Secretary of the Treasury
may invest any portion of the Fund that is not, as
determined by the Secretary, required to meet the
current needs of the Fund.
``(B) Requirement.--Investments under subparagraph
(A) may be made only in interest-bearing obligations of
the United States.
``(5) Transfers of amounts.--
``(A) Transfer of previously contributed funds.--
The amounts required to be deposited in the Fund under
paragraph (3)(A)(i) shall be transferred from the
general fund of the Treasury to the Fund not later than
90 days after the date of enactment of this subsection.
``(B) Transfer of future contributed funds.--As
soon as practicable after the date on which amounts
described in paragraph (3)(A)(ii) are contributed,
those amounts shall be transferred to the Fund.
``(C) Responsibility of state parties.--In
accordance with the Agreement, on deposit of amounts in
the Fund under paragraph (3), the State Parties shall
not be responsible for any losses due to investment of
those amounts the Fund.''.
Calendar No. 642
118th CONGRESS
2d Session
S. 5012
_______________________________________________________________________
A BILL
To establish an interest-bearing account for the non-Federal
contributions to the Lower Colorado River Multi-Species Conservation
Program, and for other purposes.
_______________________________________________________________________
November 21, 2024
Reported with an amendment