§2215. Acquisition Fund

(a) In general

The Secretary shall establish an Acquisition Fund to-

(1) disburse appropriations authorized to accomplish the purposes of section 2212 of this title; and

(2) collect all revenues received from the lease, permit, or sale of resources from interests in trust or restricted lands transferred to Indian tribes by the Secretary under section 2212 of this title or paid by Indian landowners under section 2212(c) of this title.

(b) Deposits; use

(1) In general

Subject to paragraph (2), all proceeds from leases, permits, or resource sales derived from an interest in trust or restricted lands described in subsection (a)(2) of this section shall-

(A) be deposited in the Acquisition Fund; and

(B) as specified in advance in appropriations Acts, be available for the purpose of acquiring additional fractional interests in trust or restricted lands.

(2) Maximum deposits of proceeds

With respect to the deposit of proceeds derived from an interest under paragraph (1), the aggregate amount deposited under that paragraph shall not exceed the purchase price of that interest under section 2212 of this title.

(Pub. L. 97–459, title II, §216, as added Pub. L. 106–462, title I, §103(6), Nov. 7, 2000, 114 Stat. 2002 .)

Section Referred to in Other Sections

This section is referred to in section 2213 of this title.