Page:United States Statutes at Large Volume 90 Part 1.djvu/1077

 PUBLIC LAW 94-370—JULY 26, 1976 "(2) Each coastal state shall, to the maximum extent practicable, provide that financial assistance provided under this section be apportioned, allocated, and granted to units of local government within such state on a basis which is proportional to the extent to which such units need such assistance. "(h) There is established in the Treasury of the United States the Coastal Energy Impact Fund. The Fund shall be available to the Secretary without fiscal year limitation as a revolving fund for the purposes of carrying out subsections (c) and (d). The Fund shall consist of— " (1) any sums appropriated to the Fund; "(2) payments of principal and interest received under any loan made under subsection (d)(1); "(3) any fees received in connection with any guarantee made under subsection (d)(2); and "(4) any recoveries and receipts under security, subrogation, and other rights and authorities described in subsection (f). All payments made by the Secretary to carry out the provisions of subsections (c), (d), and (f) (including reimbursements to other Government accounts) shall be paid from the Fund, only to the extent provided for in appropriation Acts. Sums in the Fund which are not currently needed for the purposes of subsections (c), (d),and (f) shall be kept on deposit or invested in obligations of, or guaranteed by, the United States. "(i) The Secretary shall not intercede in any land use or water use decision of any coastal state with respect to the siting of any energy facility or public facility by making siting in a particular location a prerequisite to, or a condition of, financial assistance under this section, "(j) The Secretary may evaluate, and report to the Congress, on the efforts of the coastal states and units of local government therein to reduce or ameliorate adverse consequences resulting from coastal energy activity and on the extent to which such efi'orts involve adequate consideration of alternative sites. "(k) To the extent that Federal funds are available under, or pursuant to, any other law with respect to— "(1) study and planning for which financial assistance may be provided under subsection (b)(4)(B) and (c),or "(2) public facilities and public services for which financial assistance may be provided under subsection (b)(4)(B) and (d), the Secretary shall, to the extent practicable, administer such subsections— "(A) on the basis that the financial assistance shall be in addition to, and not in lieu of, any Federal funds which any coastal state or unit of general purpose local government may obtain under any other law; and "(B) to avoid duplication. " (1) As used in this section— "(1) The term 'retirement', when used with respect to bonds, means the redemption in full and the withdrawal from circulation of those which cannot be repaid by the issuing jurisdiction in accordance with the appropriate repayment schedule. "(2) The term 'unavoidable', when used with respect to a loss of any valuable environmental or recreational resource, means a loss, in whole or in part— "(A) the costs of prevention, reduction, or amelioration of which cannot be directly or indirectly attributed to, or assessed against, any identifiable person; and

90 STAT. 1027

Coastal Energy Impact Fund. Establishment.

Report to Congress.

Definitions.

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