[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4489 Introduced in House (IH)]

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117th CONGRESS
  1st Session
                                H. R. 4489

  To amend the Act of June 20, 1958, to require that certain amounts 
    collected by the United States with respect to lands under the 
administration of the Forest Service be invested into interest bearing 
                  obligations, and for other purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                             July 16, 2021

 Ms. Schrier (for herself, Mr. Rosendale, Mr. LaMalfa, and Mr. Neguse) 
 introduced the following bill; which was referred to the Committee on 
                              Agriculture

_______________________________________________________________________

                                 A BILL


 
  To amend the Act of June 20, 1958, to require that certain amounts 
    collected by the United States with respect to lands under the 
administration of the Forest Service be invested into interest bearing 
                  obligations, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``National Forest Restoration and 
Remediation Act''.

SEC. 2. INVESTMENT OF CERTAIN FUNDS INTO INTEREST BEARING OBLIGATIONS.

    Section 7 of the Act of June 20, 1958 (16 U.S.C. 579c), is 
amended--
            (1) by striking ``of any improvement, protection, or 
        rehabilitation'' and inserting ``of any assessment, 
        improvement, protection, restoration, or rehabilitation''; and
            (2) by striking ``Provided, That'' and all that follows 
        through the period at the end and inserting: ``Provided, That 
        any monies covered into the Treasury under this section, 
        including all monies that were previously collected by the 
        United States in a forfeiture, judgment, compromise, or 
        settlement, shall be invested by the Secretary of the Treasury 
        in interest bearing obligations of the United States to the 
        extent the amounts are not, in the judgment of the Secretary of 
        the Treasury, required to meet current withdrawals: Provided 
        further, That any interest earned on the amounts, including any 
        interest earned by investment, is hereby appropriated and made 
        available until expended to cover the costs to the United 
        States specified in this section: Provided further, That, for 
        fiscal year 2021 and thereafter, the Secretary shall include in 
        the budget materials submitted to Congress in support of the 
        President's annual budget request (submitted to Congress 
        pursuant to section 1105 of title 31, United States Code) for 
        each fiscal year the proposed use of such amounts with respect 
        to the Forest Service: Provided further, That any portion of 
        the monies received or earned under this section in excess of 
        the amount expended in performing the work necessitated by the 
        action which led to their receipt may be used to cover the 
        other work specified in this section.''.
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