((a)) ** Establishment** The Administrator and the Foundation are authorized to establish the National Oceans and Coastal Security Fund as a tax exempt fund to further the purposes of this chapter.

((b)) ** Deposits**

((1)) ** In general** There shall be deposited into the Fund amounts appropriated or otherwise made available to carry out this chapter.

((2)) ** Prohibitions on donations from foreign governments** No amounts donated by a foreign government, as defined in , may be deposited into the Fund.section 7342 of title 5

((c)) ** Requirements** Any amounts received by the Foundation pursuant to this chapter shall be subject to the provisions of the National Fish and Wildlife Foundation Establishment Act ( et seq.), except the provisions of—

((1)) section 4(e)(1)(B) of that Act (); and

((2)) section 10(a) of that Act ().

((d)) ** Expenditure** Of the amounts deposited into the Fund for each fiscal year—

((1)) funds may be used by the Foundation to award grants to coastal States under ;

((2)) funds may be used by the Foundation to award grants under ;

((3)) no more than 2 percent may be used by the Administrator and the Foundation for administrative expenses to carry out this chapter, which amount shall be divided between the Administrator and the Foundation pursuant to an agreement reached and documented by both the Administrator and the Foundation.

((e)) ** Recovery of payments** After notice and an opportunity for a hearing, the Administrator is authorized to recover any Federal payments under this section if the Foundation—

((1)) makes a withdrawal or expenditure from the Fund that is not consistent with the requirements of ; or

((2)) fails to comply with a procedure, measure, method, or standard established under .