((a)) ** Establishment; availability** To carry out the flood insurance program authorized by this chapter, the Administrator shall establish in the Treasury of the United States a National Flood Insurance Fund (hereinafter referred to as the “fund”) which shall be an account separate from any other accounts or funds available to the Administrator and shall be available as described in subsection (f), without fiscal year limitation (except as otherwise provided in this section)—

((1)) for making such payments as may, from time to time, be required under ;

((2)) to pay reinsurance claims under the excess loss reinsurance coverage provided under ;

((3)) to repay to the Secretary of the Treasury such sums as may be borrowed from him (together with interest) in accordance with the authority provided in ; and

((4)) to the extent approved in appropriations Acts, to pay any administrative expenses of the flood insurance and floodplain management programs (including the costs of mapping activities under );

((5)) for the purposes specified in subsection (d) under the conditions provided therein;

((6)) for carrying out the program under ;

((7)) for transfers to the National Flood Mitigation Fund, but only to the extent provided in ; and

((8)) for carrying out .

((b)) ** Credits to Fund** The fund shall be credited with—

((1)) such funds borrowed in accordance with the authority provided in as may from time to time be deposited in the fund;

((2)) premiums, fees, or other charges which may be paid or collected in connection with the excess loss reinsurance coverage provided under ;

((3)) such amounts as may be advanced to the fund from appropriations in order to maintain the fund in an operative condition adequate to meet its liabilities;

((4)) interest which may be earned on investments of the fund pursuant to subsection (c);

((5)) such sums as are required to be paid to the Administrator under ; and

((6)) receipts from any other operations under this chapter (including premiums under the conditions specified in subsection (d), and salvage proceeds, if any, resulting from reinsurance coverage).

((c)) ** Investment of moneys in obligations issued or guaranteed by United States** If, after—

((1)) all outstanding obligations of the fund have been liquidated, and

((2)) any outstanding amounts which may have been advanced to the fund from appropriations authorized under have been credited to the appropriation from which advanced, with interest accrued at the rate prescribed under , as in effect immediately prior to ,

((d)) ** Availability of Fund if operation of program is carried out through facilities of Federal Government** In the event the Administrator makes a determination in accordance with the provisions of that operation of the flood insurance program, in whole or in part, should be carried out through the facilities of the Federal Government, the fund shall be available for all purposes incident thereto, including—

((1)) cost incurred in the adjustment and payment of any claims for losses, and

((2)) payment of applicable operating costs set forth in the schedules prescribed under ,

((e)) ** Annual budget** An annual business-type budget for the fund shall be prepared, transmitted to the Congress, considered, and enacted in the manner prescribed by sections 9103 and 9104 of title 31 for wholly-owned Government corporations.

((f)) ** Availability of funds dependent on future appropriations acts** The fund shall be available, with respect to any fiscal year beginning on or after , only to the extent approved in appropriation Acts; except that the fund shall be available for the purpose described in subsection (d)(1) without such approval.October 1, 19811981-10-01