Bill would create an interest-earning Treasury account for state money in a Colorado River species program

The bill would create the Non-Federal Funding Account for the Lower Colorado River Multi-Species Conservation Program in the U.S. Treasury. The account would hold deposited state contributions and the interest earned on them. State contributions mean amounts a State Party contributes for the non-Federal cost share under section 8 of the program agreement dated April 4, 2005.

The Secretary of the Treasury must deposit in the fund state contributions not yet spent that were made before the bill becomes law, and contributions made on or after that date. The money and its interest would be available to the Secretary for spending as provided in the Program Documents and in accordance with the section. The money would be available without further appropriation. Earlier contributions must be moved from the general fund within 90 days after the bill becomes law. Later contributions must be moved as soon as practicable after they are made.

The Secretary of the Treasury may invest money in the fund that is not needed right away, only in interest-bearing U.S. obligations. State Parties would not be responsible for investment losses once their money is deposited. Investments are limited to interest-bearing obligations of the United States.