Page:United States Statutes at Large Volume 114 Part 2.djvu/918

 114 STAT. 1556 PUBLIC LAW 106-390 —OCT. 30, 2000 "(2) SMALL IMPOVERISHED COMMUNITIES. —Notwithstanding paragraph (1), the President may contribute up to 90 percent of the total cost of a mitigation activity carried out in a small impoverished community, "(i) NATIONAL PREDISASTER MITIGATION FUND. — "(1) ESTABLISHMENT. — The President may establish in the Treasury of the United States a fund to be known as the 'National Predisaster Mitigation Fund', to be used in carrying out this section. "(2) TRANSFERS TO FUND. —There shall be deposited in the Fund— "(A) amounts appropriated to carry out this section, which shall remain available until expended; and "(B) sums available from gifts, bequests, or donations of services or property received by the President for the purpose of predisaster hazard mitigation. "(3) EXPENDITURES FROM FUND. —Upon request by the President, the Secretary of the Treasury shall transfer from the Fund to the President such amounts as the President determines are necessary to provide technical and financial assistance under this section. "(4) INVESTMENT OF AMOUNTS.— "(A) IN GENERAL.— The Secretary of the Treasury shall invest such portion of the Fund as is not, in the judgment of the Secretary of the Treasury, required to meet current withdrawals. Investments may be made only in interestbearing obligations of the United States. " (B) ACQUISITION OF OBLIGATIONS.—For the purpose of investments under subparagraph (A), obligations may be acquired— "(i) on original issue at the issue price; or "(ii) by purchase of outstanding obligations at the market price. "(C) SALE OF OBLIGATIONS.—Any obligation acquired by the Fund may be sold by the Secretary of the Treasury at the market price. "(D) 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. " (E) TRANSFERS OF AMOUNTS.— "(i) IN GENERAL. — The amounts required to be transferred to the Fund under this subsection shall be transferred at least monthly from the general fund of the Treasury to the Fund on the basis of estimates made by the Secretary of the Treasury. "(ii) ADJUSTMENTS. — Proper adjustment shall be made in amounts subsequently transferred to the extent prior estimates were in excess of or less than the amounts required to be transferred. " (j) LIMITATION ON TOTAL AMOUNT OF FINANCIAL ASSISTANCE. — The President shall not provide financial assistance under this section in an amount greater than the amount available in the Fund. "(k) MULTIHAZARD ADVISORY MAPS. — "(1) DEFINITION OF MULTIHAZARD ADVISORY MAP.— In this subsection, the term 'multihazard advisory map' means a map

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