595 



July 26, 1976 



15 



Pub. Law 94-370 



"(2) Each coastal state shall, to the maximum extent practicable, 

 provide that financial assistance provided under this section be appor- 

 tioned, 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 Sec- 

 retary 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 guara,nteea 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 efforts involve adequate 

 consideration of alternative sites. 



"(k) To the extent that Federal funds are available under, or pur- 

 suant 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 sub- 

 sections — 



"(A) on the basis that the financial assistance shall be in addi- 

 tion 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 circula- 

 tion of those which cannot be repaid by the issuing jurisdiction 

 in accordance with the appropriate repajmient 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 



Coastal Energy 

 Impact Fund. 

 Establishment. 



Definitions. 



90 STAT, 1027 



