43 U.S. Code § 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) of this section; 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) of this section 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) of this section. 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).
(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).

Source

(Pub. L. 95–372, title IV, § 402,Sept. 18, 1978, 92 Stat. 686; Pub. L. 97–212, § 2,June 30, 1982, 96 Stat. 143.)
References in Text

The Outer Continental Shelf Lands Act, referred to in subsec. (b)(1), is act Aug. 7, 1953, ch. 345, 67 Stat. 462, as amended, which is classified generally to subchapter III (§ 1331 et seq.) of chapter 29 of this title. For complete classification of this Act to the Code, see Short Title note set out under section 1331 of this title and Tables.
Amendments

1982—Subsec. (a). Pub. L. 97–212redesignated subsec. (a) assubsec. (a)(1) and substituted provisions relating to the source of funds, that the total amount of the Fund would not exceed $2,000,000, that the total amount in the Fund which is attributable to revenue received under par. (3) as amended or recovered by the Secretary under section 1845 (h)(2) of this title be expended prior to amounts collected under subsec. (b) as amended, and that not more than 8 percent of the total amount in the Fund be expended in any fiscal year for the paying of administrative and personnel expenses, for provisions that the amounts paid pursuant to former subsecs. (c) and (d) of this section be deposited in the Fund, and that the total amount in the Fund not exceed $1,000,000, redesignated as subsec. (a)(2) former subsec. (e), and struck out provision that the amounts disbursed for administrative or personnel expenses not exceed 15 percent of the amounts deposited in a revolving account for that fiscal year, added as subsec. (a)(3) provisions that the sums of the Fund be kept on deposit in interest-bearing accounts, and added as subsec. (a)(4) provision that all litigation be referred to the Attorney General.
Subsec. (b). Pub. L. 97–212redesignated as subsec. (b)(1) provisions of former subsec. (c) and added as subsec. (b)(2) provision that payments not be required under par. (1) by the Secretary of the Interior with respect to geological and geophysical permits other than prelease exploratory drilling permits issued under section 1340 of this title. Former subsec. (b) relating to the establishment and maintenance of an area account within the Fund was struck out.
Subsec. (c). Pub. L. 97–212redesignated subsec. (c) as (b)(1).
Subsec. (d). Pub. L. 97–212struck out subsec. (d) which related to level of area account funds.
Subsec. (e). Pub. L. 97–212redesignated subsec. (e) as (a)(2).
Effective Date of 1982 Amendment

Amendment by Pub. L. 97–212applicable with respect to claims for damages filed on or after June 30, 1982, with the Secretary of Commerce under section 1845 (a) of this title, with provision for the refiling of previously filed claims under certain circumstances, see section 9 ofPub. L. 97–212, set out as a note under section 1841 of this title.

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43 USCDescription of ChangeSession YearPublic LawStatutes at Large

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50 CFR - Wildlife and Fisheries

50 CFR Part 296 - FISHERMEN'S CONTINGENCY FUND

 

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