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 of the Treasury may 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 Investments under subparagraph (A) may be made only in interest-bearing obligations of the United States. (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..

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 of the Treasury may 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 Investments under subparagraph (A) may be made only in interest-bearing obligations of the United States. (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..