38 NATIONAL OCEANOGRAPHIC PROGRAM LEGISLATION 



(2) Cooperative expeditions for these purposes with other Federal agencies 

 having missions on the Continental Shelf ; 



(3) Development of an engineering capability that will permit exploration and 

 •development of the Continental Shelf and superjacent waters; 



(4) Fostering participation in marine exploration and economic development 

 by scientific institutions and industry, through grants, loans, and cost-sharing 

 arrangements; and 



(5) Providing for the widest practicable and appropriate dissemination of 

 information concerning marine discoveries, development of instrumentation, 

 equipment, and facilities, and other information as the Commission may deem 

 appropriate. 



POWERS OF COMMISSION 



Sec. 6. In carrying out its functions under section 5, the Commission is 

 authorized — 



(1) to enter into agreements with other Government agencies for the 

 carying out by such agencies of any activities authorized by this Act, and 

 for the reimbursement from appropriations made pursuant to section 8(a) 

 of expenses incurred by such agencies in carrying out such activities; 



(2) to enter into agreements with public or private scientific institutions, 

 or with private enterprises or individuals, for the carrying out of any 

 activities authorized by this Act, and for the payment from appropriations 

 made pursuant to section 8(a) of all or any portion of the expenses in- 

 curred by such institutions, enterprises, or individuals in carrying out such 

 activities ; and 



(3) to make loans, grants, or other cost-sharing arrangements from the 

 fund established imder section 7 to public or private scientific institutions, 

 or to business enterprises or individuals, for the puriwse of enabling them 

 to carry out activities to further the programs of the Commission. 



MARINE EXPLORATION AND DE\"ELOPMENT FUND 



Sec. 7. There is hereby established on the books of the Treasury a Marine 

 Exploration and Development Fund which shall be available to the Commission 

 for making loans, grants, or other cost-sharing arrangements authorized by 

 section 6(3). The fund shall consist of amounts appropriated thereto pursuant 

 to section 8 together with amounts received as repayments of principal and 

 payments of interest on such loans. In establishing terms for loans, grants, or 

 other cost-sharing arrangements made from such fund, the Commission shall 

 give due weight to the benefits inuring to the Government from the activities 

 carried out with the proceeds of such loans. 



FINANCING 



Sec. 8. (a) There are hereby authorized to be appropriated such sums, not to 

 exceed $50,000,000 for any fiscal year, as may be necessary to enable the Com- 

 mission to carry out its functions under this Act. 



(b) In addition to appropriations authorized by subsection (a), there is hereby 

 authorized to be appropriated to the fund established by section 7 of the sum 

 of $100,000,000 to remain available until expended. 



DISSEMINATION OF INFORMATION 



Sec. 9. The Commission shall make available to other interested Government 

 agencies and, to the extent consistent with national security, to public and pri- 

 vate institutions, business enterprises, and individuals any information obtained 

 by the Commission in carrying out its functions under this Act. 



REPORTS TO CONGRESS 



Sec. 10. The Commssion shall transmit to the Congress, at the beginning of 

 each regular session of the Congress, an annual report of its activities under 

 this Act, together with such legislative recommendations as it may deem 

 desirable. 



