43 USC 1842 – Fishermen’s Contingency Fund
(a) Establishment; availability; source of deposits; limitation on amount; interest-bearing accounts; litigation
(1) There is established in the Treasury of the United States a Fishermen’s Contingency Fund. The Fund shall be available to the Secretary without fiscal year limitations as a revolving fund for the purpose of making payments pursuant to this section. The Fund shall consist of—
(A) revenues received from investments made under paragraph (3);
(B) amounts collected under subsection (b); and
(C) amounts recovered by the Secretary under section 1845(h)(2) of this title.
The total amount in the Fund that is collected under subsection (b) may at no time exceed $2,000,000; and the total amount in the Fund which is attributable to revenue received under paragraph (3) or recovered by the Secretary under section 1845(h)(2) of this title shall be expended prior to amounts collected under subsection (b). Not more than 8 percent of the total amount in the Fund may be expended in any fiscal year for paying the administrative and personnel expenses referred to in paragraph (2)(A).
Terms Used In 43 USC 1842
- 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
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- 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 Fishermen's Contingency Fund established under section 1842 of this title. See 43 USC 1841
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- Secretary: means the Secretary of Commerce or the designee of such Secretary. See 43 USC 1841
(2) The Fund shall be available, as provided for in appropriation Acts solely for the payment of—
(A) the personnel and administrative expenses incurred in carrying out this subchapter;
(B) any claim, in accordance with procedures established under this section, for damages that are compensable under this subchapter; and
(C) attorney and other fees awarded under section 1845(e) of this title with respect to any such claim.
(3) 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 into the Fund.
(4) The Fund may sue and be sued in its own name. All litigation by or against the Fund shall be referred to the Attorney General.
(b) Payments by each holder of lease, permit, easement, or right-of-way
(1) Except as provided in paragraph (2), each holder of a lease that is issued or maintained under the Outer Continental Shelf Lands Act [43 U.S.C. 1331 et seq.] and each holder of an exploration permit, or an easement or right-of-way for the construction of a pipeline in any area of the Outer Continental Shelf, shall pay an amount specified by the Secretary. The Secretary of the Interior shall collect such amount and deposit it into the Fund. In any calendar year, no holder of a lease, permit, easement, or right-of-way shall be required to pay an amount in excess of $5,000 per lease, permit, easement, or right-of-way.
(2) Payments may not be required under paragraph (1) by the Secretary of the Interior with respect to geological permits and geophysical permits, other than prelease exploratory drilling permits issued under section 11 of the Outer Continental Shelf Lands Act (43 U.S.C. 1340).