1086 



36 



to assure repayment, to limit the duration of public service financing, 

 and to protect the interests of the United States ; and ( 5 ) criteria un- 

 der which the Secretary shall establish the rate of interest on loans 

 (not to exceed current average market yield on comparable U.S. ob- 

 ligations). The Secretary is directed to request the views of or consult 

 with appropriate persons in developing these rules and regulations. 



Subsection (f) follows subsections (c) through (k) of new section 

 319 as added by the House amendment and new section 319 as added 

 by the Senate bill in providing the detailed provisions and require- 

 ments applicable to the guarantee of bonds and other evidences of 

 indebtedness. 



Paragraph (1) of subsection (g) follows the Senate bill and the 

 House amendment in providing that no coastal state is eligible to 

 receive any financial assistance under this section unless such state 

 (1) has an approved coastal zone management program; (2) is receiv- 

 ing a coastal zone management development or completion and initial 

 implementation grant; or (3) is making satisfactory progress toward 

 the development of a management program consistent with the policies 

 set forth in section 303 of the 1972 Act, as amended. Paragraph (2) 

 requires each coastal state to provide, to the maximum extent prac- 

 ticable, that financial assistance provided under this section be ap- 

 portioned, allocated, and granted to units of local government of 

 such state on a basis which is proportional to the extent to which 

 such units need such assistance. 



Subsection (h) establishes the Coastal Energy Impact Fund in the 

 Treasury of the United States, as a revolving fund based on appro- 

 priated funds and miscellaneous receipts related thereto. The Fund 

 shall be available to the Secretary for the purposes of subsections (c) 

 and (d). 



Subsection (i) prohibits the Secretary from interceding in any land 

 use or water use decision of any coastal state with respect to the 

 siting of energy facilities or public facilities by making siting in a 

 particular location a prerequisite to financial assistance under this 

 section. 



Subsection (j) authorizes the Secretary to evaluate and report to 

 the Congress on the efforts of the coastal states to reduce or ameliorate 

 any adverse consequences resulting from coastal energy activity and 

 the extent to which such efforts involve adequate consideration of 

 alternative sites for such activity. 



Subsection (k) provides that to the extent that Federal funds are 

 available under any other law with respect to (1) study and plan- 

 ning 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 administer such subsection to the 

 extent practicable (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. 



Subsection (1) defines the terms "retirement", "unavoidable", and 

 "unit of general purpose local government" as used in section 308. 



