16 USC 4008 – Establishment of Fisheries Promotional Fund
(a) Establishment of Fund
There is established in the Treasury of the United States a Fisheries Promotional Fund. The Fund shall be available, to the extent provided for in appropriation Acts, for the purpose of making payments to carry out the annual marketing and promotion plan and annual budget of the National Council under this chapter.
(b) Deposits
Terms Used In 16 USC 4008
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- council: means a seafood promotional council established under section 4009 of this title. See 16 USC 4003
- 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.
- Fund: means the Fisheries Promotional Fund established in section 4008 of this title. See 16 USC 4003
- marketing and promotion: means an activity aimed at encouraging the consumption of fish or fish products or expanding or maintaining commercial markets for fish or fish products. See 16 USC 4003
- National Council: means the National Fish and Seafood Promotional Council established in section 4004 of this title. See 16 USC 4003
- Secretary: means the Secretary of Commerce, or the Secretary's designee. See 16 USC 4003
- United States: means the several States, the District of Columbia, Puerto Rico, the Virgin Islands, Guam, American Samoa, the Northern Mariana Islands and any other territory, possession, or commonwealth of the United States. See 16 USC 4003
There shall be deposited in the Fund—
(1) the moneys transferred to the Fund under section 713c-3(b)(2) of title 15;
(2) payments made voluntarily pursuant to section 4007 of this title; and
(3) receipts from investments made under subsection (c) of this section.
(c) Deposits and investments
Sums in the Fund that are not currently needed for the purposes of the Fund shall be kept on deposit in appropriate interest-bearing accounts that shall be established by the Secretary of the Treasury, or invested in obligations of, or guaranteed by, the United States. Any revenue accruing from such deposits and investments shall be deposited in the Fund.
(d) Authorization
There are authorized to be appropriated from the Fund, for the purposes of carrying out the annual marketing and promotion plan and annual budget of the National Council under this chapter, such sums as are deposited in the Fund under subsection (b) of this section in each fiscal year beginning in fiscal year 1987 through fiscal year 1991.