(5) specify actions to be taken by the Secretary
or the person (or both) to monitor the effectiveness
of the agreement in attaining those recovery goals;
(6) require the person to notify the Secretary
if—
(A) any right or obligation of the person
under the agreement is assigned to any other
person; or
(B) any term of the agreement is breached
by the person or any other person to whom is
assigned a right or obligation of the person
under the agreement;
(7) specify the date on which the agreement
takes effect and the period of time during which the
agreement shall remain in effect;
(8) provide that the agreement shall not be in
effect on and after any date on which the Secretary
publishes a certification by the Secretary that the
person has not complied with the agreement; and
(9) allocate financial assistance provided under
this title for implementation of the agreement, on an
annual or other basis during the period the agree-
ment is in effect based on the schedule for imple-
mentation required under paragraph (4).
(c) REVIEW AND APPROVAL OF PROPOSED AGREE-
MENTS.—Upon submission by any person of a proposed
species recovery agreement under this section, the
Secretary—
(1) shall review the proposed agreement and de-
termine whether it complies with the requirements of
this section and will contribute to the recovery of en-
dangered or threatened species that are the subject
of the proposed agreement;
(2) propose to the person any additional provi-
sions necessary for the agreement to comply with
this section; and
(3) if the Secretary determines that the agree-
ment complies with the requirements of this section,
shall approve and enter with the person into the
agreement.
(d) MONITORING
IMPLEMENTATION
OF
AGREE-
MENTS.—The Secretary shall—
(1) periodically monitor the implementation of
each species recovery agreement entered into by the
Secretary under this section; and
(2) based on the information obtained from
that monitoring, annually or otherwise disburse fi-
nancial assistance under this title to implement the
agreement as the Secretary determines is appro-
priate under the terms of the agreement.
SEC. 804. ENDANGERED AND THREATENED SPECIES RE-
COVERY FUND; AVAILABILITY OF AMOUNTS.
(a) ESTABLISHMENT OF FUND.—
(1) ESTABLISHMENT.—There is established in
the Treasury of the United States a fund that shall
be known as the ‘‘Endangered and Threatened Spe-
cies Recovery Fund’’. The Fund shall consist of such
amounts as are deposited into the Fund under this
section.
(2) DEPOSITS.—Subject to section 5 of this
Act, from amounts received by the United States as
qualified Outer Continental Shelf revenues there
shall be deposited into the Fund $100,000,000 each
fiscal year.
(b) AVAILABILITY.—Of amounts in the Fund up to
$100,000,000 shall be available to the Secretary each fis-
cal year, without further appropriation, for providing fi-
nancial assistance under section 802, and shall remain
available until expended.
(c) INVESTMENT OF EXCESS AMOUNTS.—The Sec-
retary of the Treasury shall invest moneys in the Fund
that are excess to expenditures in public debt securities
with maturities suitable to the needs of the Fund, as de-
termined by the Secretary of the Treasury, and bearing
interest at rates determined by the Secretary of the Treas-
ury, taking into consideration current market yields on
outstanding marketable obligations of the United States
of comparable maturity. Interest earned on such invest-
ments shall be deposited into the Fund.
SEC. 805. DEFINITIONS.
In this title:
(1) ENDANGERED OR THREATENED SPECIES.—
The term ‘‘endangered or threatened species’’ means
any species that is listed as an endangered species
or threatened species under section 4 of the Endan-
gered Species Act of 1973 (16 U.S.C. 1533).
(2) FAMILY FARM.—The term ‘‘family farm’’
means a farm that—
(A) produces agricultural commodities for
sale in such quantities so as to be recognized in
the community as a farm and not as a rural
residence;
(B) produces enough income, including off-
farm employment, to pay family and farm oper-
ating expenses, pay debts, and maintain the
property;
(C) is managed by the operator;