Page:United States Statutes at Large Volume 123.djvu/1539

 123STA T . 1 5 1 9PUBLIC LA W 111 – 13 — AP R .21 , 2 0 09 ‘ ‘ (C)whoisac hi ld,f os ter child, or g ra n dchild of the indi v id u al descri b ed in sub p aragraph ( A ) .’ ’. SEC.1406 . AP P ROV A L PROCESS F OR APPROVE D POS IT IO N S. (a) INGE NE RAL . —S ubtitle D oftitleI( 42U .S.C. 1 2 60 1et se q .)isa m ended b y adding at the end the following new section

‘SEC. 14 9 . APPROVAL PROCESS FOR APPROVED POSITIONS. ‘‘(a) TIM IN G AN DR E CO RDING RE QU IREMEN TS .— ‘‘(1) IN GENERAL.— N otwithstanding subtitles C, D, and H , and any other provision of law, in approving a position as an approved national service position, an approved summer of service position, or an approved silver scholar position, the Corporation— ‘‘(A) shall approve the position at the time the Corpora - tion— ‘‘(i) enters into an enforceable agreement with an individual participant to serve in a program carried out under subtitle E of title I of this Act, section 1 98B or 198C(a), or under title I of the Domestic V olun- teer Service Act of 19 73 (42 U.S.C. 49 5 1 et seq.), a summer of service program described in section 119(c)(8), or a silver scholarship program described in section 198C(a) or ‘‘(ii) e x cept as provided in clause (i), awards a grant to (or enters into a contract or cooperative agree- ment with) an entity to carry out a program for which such a position is approved under section 123; and ‘‘(B) shall record as an obligation an estimate of the net present value of the national service educational award, summer of service educational award, or silver scholar educational award associated with the position, based on a formula that ta k es into consideration historical rates of enrollment in such a program, and of earning and using national service educational awards, summer of service educational awards, or silver scholar educational awards, as appropriate, for such a program and remain available. ‘‘(2) F ORMULA.—In determining the formula described in paragraph (1)(B), the Corporation shall consult with the Director of the Congressional Budget O ffice. ‘‘(3) CERTI F ICATION RE P ORT.—The Chief Executive Officer of the Corporation shall annually prepare and submit to the authori z ing committees a report that contains a certification that the Corporation is in compliance with the requirements of paragraph (1). ‘‘(4) APPRO V AL.—The requirements of this subsection shall apply to each approved national service position, approved summer of service position, or approved silver scholarship posi- tion that the Corporation approves— ‘‘(A) during fiscal year 2010; and ‘‘(B) during any subsequent fiscal year. ‘‘(b) RESERVE ACCOUNT.— ‘‘(1) ESTA B LIS H MENT AND CONTENTS.— ‘‘(A) ESTABLISHMENT.—Notwithstanding subtitles C, D, and H, and any other provision of law, within the National Service Trust established under section 145, the Corpora- tion shall establish a reserve account. Ap p licab ili ty.42USC1 2 60 6.