Artist Compensation Royalty Fund

(a) Establishment (1) In general The Register, with the approval of the Librarian of Congress, shall designate an eligible entity to establish and administer a fund to be known as the Artist Compensation Royalty Fund. (2) Notice of designation in Federal Register Not later than 30 days after the eligible entity is designated under paragraph (1), the Register shall publish a notice in the Federal Register that— (A) includes the contact information for the eligible entity; and (B) the reason for why the Register designated the eligible entity under such paragraph. (b) Deposit of amounts into Fund (1) Deposit The Fund Administrator shall deposit into the Fund any amounts received by the Fund Administrator under paragraph (2) or (3). (2) Amounts from service providers Not later than the last day of the first calendar quarter after the calendar quarter in which the Fund Administrator is designated, and each calendar quarter thereafter, a service provider shall provide to the Fund Administrator, for deposit into the Fund— (A) the amounts collected by the service provider in the prior calendar quarter from the living wage royalty fee; and (B) 10 percent of any non-subscription revenue received by the service provider in the prior calendar quarter. (3) Amounts from sources other than service providers The Fund Administrator may receive amounts for deposit into the Fund from any source, including from a Federal, State, or local government. (c) Use of Fund Amounts in the Fund shall be made available in accordance with section 3.