United States HR 9515: Lower Colorado River Multi-Species Conservation Program Amendment Act of 2024

Bill Text

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118TH CONGRESS
2D SESSION H. R. 9515
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 HOUSE OF REPRESENTATIVES
SEPTEMBER 10, 2024
Mr. CALVERT (for himself, Mrs. NAPOLITANO, Ms. LEE of Nevada, and Ms.
TITUS) introduced the following bill; which was referred to the Committee
on Natural Resources
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 Representa-1
tives of the United States of America in Congress assembled, 2
SECTION 1. SHORT TITLE. 3
This Act may be cited as the ‘‘Lower Colorado River 4
Multi-Species Conservation Program Amendment Act of 5
2024’’. 6
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SEC. 2. INTEREST-BEARING FUND. 1
Section 9402 of the Omnibus Public Land Manage-2
ment Act of 2009 (Public Law 111–11; 123 Stat. 1328) 3
is amended by adding at the end the following: 4
‘‘(c) INTEREST-BEARING ACCOUNT FOR NON-FED-5
ERAL CONTRIBUTIONS.— 6
‘‘(1) DEFINITIONS.—In this subsection: 7
‘‘(A) AGREEMENT.—The term ‘Agreement’ 8
means the agreement entitled the ‘Lower Colo-9
rado River Multi-Species Conservation Program 10
Funding and Management Agreement’ and 11
dated April 4, 2005. 12
‘‘(B) FUND.—The term ‘Fund’ means the 13
Non-Federal Funding Account for the Lower 14
Colorado River Multi-Species Conservation Pro-15
gram established by paragraph (2). 16
‘‘(C) NON-FEDERAL CONTRIBUTION.—The 17
term ‘non-Federal contribution’ means an 18
amount contributed by a State Party for the 19
non-Federal cost share described in section 8 of 20
the Agreement. 21
‘‘(D) STATE PARTY.—The term ‘State 22
Party’ has the meaning given the term in sec-23
tion 3 of the Agreement. 24
‘‘(2) ESTABLISHMENT.—There is established in 25
the Treasury of the United States a fund, to be 26
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known as the ‘Non-Federal Funding Account for the 1
Lower Colorado River Multi-Species Conservation 2
Program’, consisting of— 3
‘‘(A) any amounts deposited in the Fund 4
under paragraph (3); and 5
‘‘(B) any interest earned on investment of 6
amounts in the Fund under paragraph (4). 7
‘‘(3) DEPOSITS TO FUND.— 8
‘‘(A) IN GENERAL.—Pursuant to section 9
8.4 of the Agreement, the Secretary of the 10
Treasury shall deposit in the Fund— 11
‘‘(i) any unexpended non-Federal con-12
tributions provided before the date of en-13
actment of this subsection; and 14
‘‘(ii) any non-Federal contributions 15
provided on or after the date of enactment 16
of this subsection. 17
‘‘(B) AVAILABILITY OF AMOUNTS; EX-18
PENDITURE.—Amounts deposited in the Fund 19
under subparagraph (A) and any interest on 20
those amounts in the Fund shall be made avail-21
able to the Secretary, without further appro-22
priation, for expenditure— 23
‘‘(i) as provided in the Program Docu-24
ments; and 25
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‘‘(ii) in accordance with this section. 1
‘‘(4) INVESTMENT OF AMOUNTS.— 2
‘‘(A) IN GENERAL.—The Secretary may re-3
quest the Secretary of the Treasury to invest 4
any portion of the Fund that is not, as deter-5
mined by the Secretary, required to meet the 6
current needs of the Fund. 7
‘‘(B) REQUIREMENT.—An investment re-8
quested under subparagraph (A) shall be made 9
by the Secretary of the Treasury in a public 10
debt security— 11
‘‘(i) with a maturity suitable to the 12
needs of the Fund, as determined by the 13
Secretary; and 14
‘‘(ii) bearing interest at a rate deter-15
mined by the Secretary of the Treasury, 16
taking into consideration current market 17
yields on outstanding marketable obliga-18
tions of the United States of comparable 19
maturity. 20
‘‘(C) CREDITS TO FUND.—The income on 21
investments of the Fund under this paragraph 22
shall be credited to, and form a part of, the 23
Fund. 24
‘‘(5) TRANSFERS OF AMOUNTS.— 25
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‘‘(A) TRANSFER OF PREVIOUSLY CONTRIB-1
UTED FUNDS.—The amounts required to be de-2
posited in the Fund under paragraph (3)(A)(i) 3
shall be transferred from the general fund of 4
the Treasury to the Fund not later than 90 5
days after the date of enactment of this sub-6
section. 7
‘‘(B) TRANSFER OF FUTURE CONTRIB-8
UTED FUNDS.—As soon as practicable after the 9
date on which amounts described in paragraph 10
(3)(A)(ii) are contributed, those amounts shall 11
be transferred to the