ENVIRONMENT AND PROJECT TRUST FUND.

SEC. 108. ENVIRONMENT AND PROJECT TRUST FUND. (a) Establishment.—On completion of the conveyance, the State shall establish, in an interest-bearing account at an accredited financial institution located within the State, the Environment and Project Trust Fund. (b) Amounts.—The Fund shall consist of— (1) an annual deposit from the operation and maintenance funding provided for the laboratory in an amount to be determined— (A) by the State, in consultation with the Administrator and the Scientific Advisory Board; and (B) after taking into consideration— (i) the nature of the projects and experiments being conducted at the laboratory; (ii) available amounts in the Fund; (iii) any pending costs or claims that may be required to be paid out of the Fund; and (iv) the amount of funding required for future actions associated with the closure of the facility; (2) an amount determined by the State, in consultation with the Administrator and the Scientific Advisory Board, and 115 STAT. 2352to be paid by the appropriate project sponsor, for each project to be conducted, which amount— (A) shall be used to pay— (i) costs incurred in removing from the Mine or laboratory equipment or other materials related to the project; (ii) claims arising out of or in connection with the project; and (iii) if any portion of the amount remains after paying the expenses described in clauses (i) and (ii), other costs described in subsection (c); and (B) may, at the discretion of the State, be assessed— (i) annually; or (ii) in a lump sum as a prerequisite to the approval of the project; (3) interest earned on amounts in the Fund, which amount of interest shall be used only for a purpose described in subsection (c); and (4) all other funds received and designated by the State for deposit in the Fund. (c) Expenditures From Fund.—Amounts in the Fund shall be used only for the purposes of funding— (1) waste and hazardous substance removal or remediation, or other environmental cleanup at the Mine; (2) removal of equipment and material no longer used, or necessary for use, in conjunction with a project conducted at the laboratory; (3) a claim arising out of or in connection with the conducting of such a project; (4) purchases of insurance by the State as required under section 107; (5) payments for and other costs relating to liability described in section 106; and (6) closure of the Mine and laboratory. (d) Federal Payments From Fund.—The United States— (1) to the extent the United States assumes liability under section 106— (A) shall be a beneficiary of the Fund; and (B) may direct that amounts in the Fund be applied to pay amounts and costs described in this section; and (2) may take action to enforce the right of the United States to receive one or more payments from the Fund. (e) No Requirement of Deposit of Public Funds.—Nothing in this section requires the State to deposit State funds as a condition of the assumption by the United States of liability, or the relief of the State or Homestake from liability, under section 106.