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

In this subsection:

The term Agreement means the agreement entitled the Lower Colorado River Multi-Species Conservation Program Funding and Management Agreement and dated April 4, 2005.

The term Fund means the Non-Federal Funding Account for the Lower Colorado River Multi-Species Conservation Program established by paragraph (2).

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.

The term State Party has the meaning given the term in section 3 of the Agreement.

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).

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.

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.

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.

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.

The income on investments of the Fund under this paragraph shall be credited to, and form a part of, the Fund.

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.

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.

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.