[Code of Federal Regulations]
[Title 43, Volume 1]
[Revised as of October 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 43CFR11.92]

[Page 294]
 
                    TITLE 43--PUBLIC LANDS: INTERIOR
 
PART 11--NATURAL RESOURCE DAMAGE ASSESSMENTS--Table of Contents
 
                    Subpart F--Post-Assessment Phase
 
Sec. 11.92  Post-assessment phase--restoration account.

    (a) Disposition of recoveries. (1) All sums (damage claim and 
assessment costs) recovered pursuant to section 107(f) of CERCLA or 
sections 311(f)(4) and (5) of the CWA by the Federal government acting 
as trustee shall be retained by the trustee, without further 
appropriation, in a separate account in the U.S. Treasury.
    (2) All sums (damage claim and assessment costs) recovered pursuant 
to section 107(f) of CERCLA, or sections 311(f)(4) and (5) of the CWA by 
a State government acting as trustee shall either:
    (i) Be placed in a separate account in the State treasury; or
    (ii) Be placed by the responsible party or parties in an interest 
bearing account payable in trust to the State agency acting as trustee.
    (3) All sums (damage claim and assessment costs) recovered pursuant 
to section 107(f) of CERCLA or sections 311(f)(4) and (5) of the CWA by 
an Indian tribe shall either:
    (i) Be placed in an account in the tribal treasury; or
    (ii) Be placed by the responsible party or parties in an interest 
bearing account payable in trust to the Indian tribe.
    (b) Adjustments. (1) In establishing the account pursuant to 
paragraph (a) of this section, the calculation of the expected present 
value of the damage amount should be adjusted, as appropriate, whenever 
monies are to be placed in a non-interest bearing account. This 
adjustment should correct for the anticipated effects of inflation over 
the time estimated to complete expenditures for the restoration, 
rehabilitation, replacement, and/or acquisition of equivalent resources.
    (2) In order to make the adjustment in paragraph (b)(1) of this 
section, the authorized official should adjust the damage amount by the 
rate payable on notes or bonds issued by the United States Treasury with 
a maturity date that approximates the length of time estimated to 
complete expenditures for the restoration, rehabilitation, replacement, 
and/or acquisition of equivalent resources.
    (c) Payments from the account. Monies that constitute the damage 
claim amount shall be paid out of the account established pursuant to 
paragraph (a) of this section only for those actions described in the 
Restoration Plan required by Sec. 11.93 of this part.

[53 FR 5176, Feb. 22, 1988, as amended at 59 FR 14287, Mar. 25, 1994]