31 CFR 34.103 – Allocation of funds
The amounts in the Trust Fund are allocated among the programs in § 34.1.
Terms Used In 31 CFR 34.103
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(a) Available funds in the Trust Fund, other than interest, are allocated as follows:
(1) Thirty-five percent in equal shares for the Gulf Coast States to be used for the Direct Component of the Gulf RESTORE Program. Section 34.302 describes the allocation for each Gulf Coast State.
(2) Thirty percent for the Council to be used for the Comprehensive Plan Component of the Gulf RESTORE Program.
(3) Thirty percent for formula distribution to Gulf Coast States to be used for the Spill Impact Component of the Gulf RESTORE Program.
(4) Two and one-half percent to be used for the NOAA RESTORE Act Science Program.
(5) Two and one-half percent in equal shares for the Gulf Coast States to be used for the Centers of Excellence Research Grants Program.
(b) Within ten days of the close of a Federal fiscal year, available funds equal to the interest earned on the Trust Fund investments will be allocated, as follows:
(1) Twenty-five percent to be used for the NOAA RESTORE Act Science Program.
(2) Twenty-five percent for the Centers of Excellence Research Grants Program.
(3) Fifty percent for the Comprehensive Plan Component of the Gulf RESTORE Program.