500 



that the coastal State is adequately and expeditiously developing such manage- 

 ment plan and program. 



"(b) Upon completion of the development of the coastal State's managemnet 

 plan and program, the coastal State shall submit such plan and program to the 

 Secretary for review, approval pursuant to the provisions of section 306 of this 

 title, or such other action as he deems necessary. On final approval of such plan 

 and program by the Secretary, the coastal State's eligibility for further grants 

 under this section shall terminate, and the coastal State shall be eligible 

 for grants under section 306 of this title. 



"(c) No annual grant to a single coastal State shall be made under this section 

 in excess of $200,000. 



"(d) With the approval of the Secretary, the coastal State may allocate to an 

 interstate agency a portion of the grant under this section for the purpose of 

 carrying out the provisions of this section. 



"administrative grants 



"Sec. 306. (a) The Secretary is authorized to make annual grants to any 

 coastal State for not more than 50 per centum of the costs of administering the 

 coastal State's management plan and program, if he approves such plan and 

 program in accordance with subsection (c) hereof. Federal funds received from 

 other sources shall not be used to pay the coastal State's share of costs. 



"(b) Such grants shall be allotted to the States with approved plans and 

 programs based on regulations of the Secretary taking into account the amount 

 and nature of the coastline and area covered by the plan, population, and other 

 relevant factors. 



"(c) Prior to granting approval of a comprehensive management plan and 

 program submitted by a coastal State, the Secretary shall find that : 



"(1) The coastal State has developed and adopted a management plan 

 and program for its coastal zone adequate to carry out the purposes of this 

 title, in accordance with regulations published by the Secretary, and with 

 the opportunity of full participation by relevant Federal agencies, State 

 agencies, local governments, regional organizations, and other interested 

 parties, public and private. 



* * w * * 



"(2) to acquire fee simple and less than fee simple interests in lands, 

 waters, and other property within the coastal zone through condemnation 

 or other means when necessary to achieve conformance with the manage- 

 ment plan and program ; 



"(3) to control and develop land and facilities as may be deemed necessary 

 to carry out the management plan and program ; and 



"(4) to borrow money and issue bonds for the purpose of land acquisition 

 or land and water development and restoration projects. 

 "(h) No annual administrative grant to a coastal State shall be made under 

 this section in excess of 15 per centum of the total amount appropriated to carry 

 out the purposes of this section, nor shall any coastal State having in effect a 

 plan approved by the Secretary receive less than 1 per centum of the total amount 

 appropriated to carry out the purposes of this section. 



"bond and loan guaranties 



"Sec. 307. In addition to grants-in-aid, the Secretary is authorized under such 

 terms and conditions as may be prescribed by the Secretary of the Treasury, to 

 enter into agi-eements with coastal States to underwrite by guaranty thereof bond 

 issues or loans for the purposes of land acquisition, or land and water develop- 

 ment and restoration projects : Provided, That the aggregate principle amount of 

 guaranteed bonds and loans outstanding at any time may not exceed $140,000,000. 



"regulations 



"Sec. 308. The Secretary shall develop and promulgate, pursuant to section 553 

 of title 5, United States Code, after appropriate consultation with other interested 

 parties, both public and private, such rules and regulations as may be reasonably 

 necessary to carry out the provisions of this title. 



