Chapter 31, Subchapter IV, Section 2131, Subsection (d) · 22 U.S.C. Chapter 31

Contents

(d)

(1)There is hereby established in the Treasury a fund which shall be known as the Travel Promotion Fund.

(2)

(A)The Secretary of the Treasury shall make available to the Corporation such sums as may be necessary, but not to exceed $10,000,000, from amounts deposited in the general fund of the Treasury from fees under section 1187(h)(3)(B)(i)(I) of title 8 to cover the Corporation’s initial expenses and activities under this section. Transfers shall be made at least monthly, immediately following the collection of fees under section 1187(h)(3)(B)(i)(I) of title 8, on the basis of estimates by the Secretary, and proper adjustments shall be made in amounts subsequently transferred to the extent prior estimates were in excess or less than the amounts required to be transferred.

(B)For each of fiscal years 2012 through 2027, from amounts deposited in the general fund of the Treasury during the preceding fiscal year from fees under section 1187(h)(3)(B)(i)(I) of title 8, the Secretary of the Treasury shall transfer not more than $20,000,000 to the Fund, which shall be made available to the Corporation, subject to paragraph (3) of this subsection, to carry out its functions under this section. Transfers shall be made at least quarterly on the basis of estimates by the Secretary, and proper adjustments shall be made in amounts subsequently transferred to the extent prior estimates were in excess or less than the amounts required to be transferred.

(3)

(A)No amounts may be made available to the Corporation under this subsection after fiscal year 2011, except to the extent that—

(i)for fiscal year 2012, the Corporation provides matching amounts from non-Federal sources equal in the aggregate to 50 percent or more of the amount transferred to the Fund under paragraph (2); and

(ii)for any fiscal year after fiscal year 2012, the Corporation provides matching amounts from non-Federal sources equal in the aggregate to 100 percent of the amount transferred to the Fund under paragraph (2) for the fiscal year.

(B)For the purpose of determining the amount received from non-Federal sources by the Corporation, other than money—

(i)the fair market value of goods and services (including advertising) contributed to the Corporation for use under this section may be included in the determination; but

(ii)the fair market value of such goods and services may not account for more than 50 percent of the matching requirement under subparagraph (A) for the Corporation in any fiscal year.

(C)The Corporation may decline to accept any contribution in-kind that it determines to be inappropriate, not useful, or commercially worthless.

(D)The Corporation may not obligate or expend funds in excess of the total amount received by the Corporation for a fiscal year from Federal and non-Federal sources.

(E)The Corporation shall maintain an in-kind contributions policy.

(F)Not later than 90 days after December 16, 2014, the Secretary of Commerce, in coordination with the Corporation, shall establish formal, publicly available procedures specifying time frames and conditions for—

(i)making and agreeing to revisions of the Corporation’s in-kind contributions policy; and

(ii)addressing and resolving disagreements between the Corporation and its partners, including the Secretary of Commerce, regarding the in-kind contributions policy.

(G)The Corporation and the Secretary of Commerce (or their designees) shall meet on a biannual basis to review the procedures to determine the fair market value of goods and services received from non-Federal sources by the Corporation under subparagraph (B).

(4)

(A)Amounts transferred to the Fund under paragraph (2)(B) shall remain available until expended.

(B)Any amount received by the Corporation from non-Federal sources in each of the fiscal years 2011 through 2027 that cannot be used to meet the matching requirement under paragraph (3)(A) for the fiscal year in which amount was collected may be carried forward and treated as having been received in the succeeding fiscal year for purposes of meeting the matching requirement of paragraph (3)(A) in such succeeding fiscal year.

United States Government work; public domain under 17 U.S.C. § 105.