Lower Colorado River Multi-Species Conservation Program Amendment Act of 2024

Bill: 118-hr-9515
Sponsor: full_name: Rep. Calvert, Ken [R-CA-41]
Introduced: 2024-09-10
Policy area: Public Lands and Natural Resources
Subjects: Arizona

California

Financial services and investments

Government trust funds

Lakes and rivers

Nevada

Water use and supply

Wildlife conservation and habitat protection
Latest action: action_date: 2024-11-20
text: Subcommittee Hearings Held

Summaries:

tv_txt: I 118th CONGRESS 2d Session H. R. 9515 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.

1. Short title This Act may be cited as the Lower Colorado River Multi-Species Conservation Program Amendment Act of 2024 . 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. .