Public Law No. 16-355

CBL 16-127 SIXTEENTH CONGRESS OF THE FEDERATED STATES OF MICRONESIA FOURTH REGULAR SESSION, 2010 CONGRESSIONAL BILL NO. 16-108, C.D.1 PC NO. 16-355 PUBLIC LAW NO. 16-66 AN ACT To further amend title 55 of the Code of the Federated States of Micronesia, as amended, by adding a new subchapter XII to chapter 6 to establish a Maritime Surveillance Revolving Fund, and for other purposes. BE IT ENACTED BY THE CONGRESS OF THE FEDERATED STATES OF MICRONESIA: Section 1. Title 55 of the Code of the Federated States of 1 Micronesia, as amended, is hereby further amended by adding a new 2 subchapter XII to chapter 6 to establish a Maritime Surveillance 3 Revolving Fund. 4 Section 2. Title 55 of the Code of the Federated States of 5 Micronesia, as amended, is hereby further amended by adding a new 6 section 671 to subchapter XII of chapter 6, to read as follows: 7 “Section 671. Establishment. There is hereby created 8 and established a Maritime Surveillance Revolving Fund, 9 separate from the General Fund of the Federated States 10 of Micronesia and all other funds.” 11 Section 3. Title 55 of the Code of the Federated States of 12 Micronesia, as amended, is hereby further amended by adding a new 13 section 672 to subchapter XII of chapter 6, to read as follows: 14 “Section 672. Purpose. The purpose of the Fund is to 15 provide reliable funding for fuel for the patrol and 16 surveillance boats of the national government of the 17 Federated States of Micronesia. The Fund shall not be 18 used for salaries or overtime.” 19 Section 4. Title 55 of the Code of the Federated States of 20 CONGRESSIONAL BILL NO. 16-108, C.D.1 PC NO. 16-355 PUBLIC LAW NO. 16-66 2 of 3 Micronesia, as amended, is hereby further amended by adding a new 1 section 672 to subchapter XII of chapter 6, to read as follows: 2 “Section 673. Deposits. All future appropriations for 3 the Fund as well as revenues received pursuant to the 4 provisions of sections 901 and 902 of title 24 shall be 5 deposited in the Fund. Any unexpended moneys in this 6 Fund shall neither revert to the General Fund nor lapse 7 at the end of the fiscal year; PROVIDED, HOWEVER, that 8 any amount in excess of $500,000 shall be paid into the 9 General Fund.” 10 Section 5. Title 55 of the Code of the Federated States of 11 Micronesia, as amended, is hereby further amended by adding a new 12 section 674 to subchapter XII of chapter 6, to read as follows: 13 “Section 674. Administration. The fund shall be 14 administered by the President of the Federated States of 15 Micronesia, or his designee, who shall establish 16 procedures necessary and appropriate for the 17 effectuation and implementation of the provisions of 18 this subchapter.” 19 20 21 22 23 24 25 CONGRESSIONAL BILL NO. 16-108, C.D.1 PC NO. 16-355 PUBLIC LAW NO. 16-66 3 of 3 Section 6. This act shall become law upon approval by the 1 President of the Federated States of Micronesia or upon its 2 becoming law without such approval. 3 4 5 February 14, 2011 6 7 8 9 for /s/ Alik L. Alik 10 Manny Mori President 11 Federated States of Micronesia 12 13 14 15 16 17 18 19 20 21 22 23 24 25