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[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 5012 Introduced in Senate (IS)]

<DOC>

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, and Ms. Cortez Masto) 
introduced the following bill; which was read twice and referred to the 
               Committee on Energy and 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 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.
            ``(4) Investment of amounts.--
                    ``(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.
                    ``(B) Requirement.--An investment requested under 
                subparagraph (A) shall be made by the Secretary of the 
                Treasury in a public debt security--
                            ``(i) with a maturity suitable to the needs 
                        of the Fund, as determined by the Secretary; 
                        and
                            ``(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.
                    ``(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.
            ``(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.''.
                                 <all>
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