U.S. CODE

U.S. Code

§ 698v-8. Termination of the Trust

(a) In general

The Valles Caldera Trust shall terminate at the end of the twentieth full fiscal year following acquisition of the Baca ranch under section 698v–2 (a) of this title.

(b) Recommendations

(1) Board

(A) If after the fourteenth full fiscal years ^[1] from the date of acquisition of the Baca ranch under section 698v–2 (a) of this title, the Board believes the Trust has met the goals and objectives of the comprehensive management program under section 698v–6 (d) of this title, but has not become financially self-sustaining, the Board may submit to the Committees of Congress, a recommendation for authorization of appropriations beyond that provided under sections 698v to 698v–10 of this title.

(B) During the eighteenth full fiscal year from the date of acquisition of the Baca ranch under section 698v–2 (a) of this title, the Board shall submit to the Secretary its recommendation that the Trust be either extended or terminated including the reasons for such recommendation.

(2) Secretary

Within 120 days after receipt of the recommendation of the Board under paragraph (1)(B), the Secretary shall submit to the Committees of Congress the Board’s recommendation on extension or termination along with the recommendation of the Secretary with respect to the same and stating the reasons for such recommendation.

In the event of termination of the Trust, the Secretary shall assume all management and administrative functions over the Preserve, and it shall thereafter be managed as a part of the Santa Fe National Forest, subject to all laws applicable to the National Forest System.

(d) Assets

In the event of termination of the Trust, all assets of the Trust shall be used to satisfy any outstanding liabilities, and any funds remaining shall be transferred to the Secretary for use, without further appropriation, for the management of the Preserve.

(e) Valles Caldera Fund

In the event of termination, the Secretary shall assume the powers of the Trust over funds under section 698v–4 (h) of this title, and the Valles Caldera Fund shall not terminate. Any balances remaining in the fund shall be available to the Secretary, without further appropriation, for any purpose consistent with the purposes of sections 698v to 698v–10 of this title.

[1] So in original. Probably should be “year”.

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