§ 5607a. — Environmental Dispute Resolution Fund.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 20USC5607a]
TITLE 20--EDUCATION
CHAPTER 66--MORRIS K. UDALL SCHOLARSHIP AND EXCELLENCE IN NATIONAL
ENVIRONMENTAL POLICY FOUNDATION
Sec. 5607a. Environmental Dispute Resolution Fund
(a) Establishment
There is established in the Treasury of the United States an
Environmental Dispute Resolution Fund to be administered by the
Foundation. The Fund shall consist of amounts appropriated to the Fund
under section 5609(b) of this title and amounts paid into the Fund under
section 5607b of this title.
(b) Expenditures
The Foundation shall expend from the Fund such sums as the Board
determines are necessary to establish and operate the Institute,
including such amounts as are necessary for salaries, administration,
the provision of mediation and other services, and such other expenses
as the Board determines are necessary, including not to exceed $1,000
annually for official reception and representation expenses.
(c) Distinction from Trust Fund
The Fund shall be maintained separately from the Trust Fund
established under section 5606 of this title.
(d) Investment of amounts
(1) In general
The Secretary of the Treasury shall invest such portion of the
Fund as is not, in the judgment of the Secretary, required to meet
current withdrawals.
(2) Interest-bearing obligations
Investments may be made only in interest-bearing obligations of
the United States.
(3) Acquisition of obligations
For the purpose of investments under paragraph (1), obligations
may be acquired--
(A) on original issue at the issue price; or
(B) by purchase of outstanding obligations at the market
price.
(4) Sale of obligations
Any obligation acquired by the Fund may be sold by the Secretary
of the Treasury at the market price.
(5) Credits to Fund
The interest on, and the proceeds from the sale or redemption
of, any obligations held in the Fund shall be credited to and form a
part of the Fund.
(Pub. L. 102-259, Sec. 10, as added Pub. L. 105-156, Sec. 6(b), Feb. 11,
1998, 112 Stat. 10; amended Pub. L. 105-277, div. A, Sec. 101(h) [title
V, Sec. 517(c)], Oct. 21, 1998, 112 Stat. 2681-480, 2681-512.)
Prior Provisions
A prior section 10 of Pub. L. 102-259 was renumbered section 12 and
is classified to section 5608 of this title.
Amendments
1998--Subsec. (b). Pub. L. 105-277 inserted before period at end ``,
including not to exceed $1,000 annually for official reception and
representation expenses''.
Section Referred to in Other Sections
This section is referred to in sections 5607b, 5608, 5609 of this
title.
