Page:United States Statutes at Large Volume 121.djvu/1148

 PUBLIC LAW 110–114—NOV. 8, 2007

121 STAT. 1127

Resources Development Act of 1996 (110 Stat. 3739), is modified to direct the Secretary to credit, in accordance with section 221 of the Flood Control Act of 1970 (42 U.S.C. 1962d–5b), toward the non-Federal share of the cost of the project the costs of relocating oyster beds in the Davis Pond project area. SEC. 3082. MISSISSIPPI RIVER-GULF OUTLET RELOCATION ASSISTANCE, LOUISIANA.

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(a) PORT FACILITIES RELOCATION.— (1) AUTHORIZATION OF APPROPRIATIONS.—There is authorized to be appropriated to the Assistant Secretary for Economic Development (referred to in this section as the ‘‘Assistant Secretary’’) $75,000,000, to remain available until expended, to support the relocation of Port of New Orleans deep draft facilities from the Mississippi River-Gulf Outlet (referred to in this section as the ‘‘Outlet’’), the Gulf Intracoastal Waterway, and the Inner Harbor Navigation Canal to the Mississippi River. (2) ADMINISTRATION.— (A) IN GENERAL.—Amounts appropriated pursuant to paragraph (1) shall be administered by the Assistant Secretary pursuant to sections 209(c)(2) and 703 of the Public Works and Economic Development Act of 1965 (42 U.S.C. 3149(c)(2), 3233). (B) REQUIREMENT.—The Assistant Secretary shall make amounts appropriated pursuant to paragraph (1) available to the Port of New Orleans to relocate to the Mississippi River within the State of Louisiana the portowned facilities that are occupied by businesses in the vicinity that may be impacted due to the treatment of the Outlet under title VII of this Act. (b) REVOLVING LOAN FUND GRANTS.—There is authorized to be appropriated to the Assistant Secretary $85,000,000, to remain available until expended, to provide assistance pursuant to sections 209(c)(2) and 703 of the Public Works and Economic Development Act of 1965 (42 U.S.C. 3149(c)(2), 3233) to one or more eligible recipients under such Act to establish revolving loan funds to make loans for terms up to 20 years at or below market interest rates (including interest-free loans) to private businesses within the Port of New Orleans that may need to relocate to the Mississippi River within the State of Louisiana due to the treatment of the Outlet under title VII of this Act. (c) REQUIREMENTS.—In selecting one or more recipients under subsection (b), the Assistant Secretary shall ensure that each recipient has established procedures to target lending to businesses that will be directly and substantially impacted by the treatment of the Mississippi River-Gulf Outlet under title VII of this Act. (d) COORDINATION WITH SECRETARY.—The Assistant Secretary shall ensure that the programs described in subsections (a) and (b) are coordinated with the Secretary to ensure that facilities are relocated in a manner that is consistent with the analysis and design of comprehensive hurricane protection authorized by title I of the Energy and Water Development Appropriations Act, 2006 (119 Stat. 2247). (e) ADMINISTRATIVE EXPENSES.—The Assistant Secretary may use up to 2 percent of the amounts made available under subsections (a) and (b) for administrative expenses.

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