METHOD OF FUNDING FOR COOPERATIVE AGREEMENTS UNDER THE SIKES ACT.

SEC. 312. METHOD OF FUNDING FOR COOPERATIVE AGREEMENTS UNDER THE SIKES ACT. (a) Method of Payments Under Cooperative Agreements.—Subsection (b) of section 103A of the Sikes Act (16 U.S.C. 670c-1) is amended— (1) by inserting “(1)” before “Funds”; and (2) by adding at the end the following new paragraphs: “(2) In the case of a cooperative agreement under subsection (a)(2), such funds— “(A) may be paid in a lump sum and include an amount intended to cover the future costs of the natural resource maintenance and improvement activities provided for under the agreement; and “(B) may be placed by the recipient in an interest-bearing or other investment account, and any interest or income shall be applied for the same purposes as the principal. “(3) If any funds are placed by a recipient in an interest-bearing or other investment account under paragraph (2)(B), the Secretary of Defense shall report biennially to the congressional defense committees on the disposition of such funds.” . (b) Availability of Funds; Agreement Under Other Laws.—Subsection (c) of such section is amended to read as follows: “(c) Availability of Funds; Agreement Under Other Laws.—(1) Cooperative agreements and interagency agreements entered into under this section shall be subject to the availability of funds. “(2) Notwithstanding chapter 63 of title 31, United States Code, a cooperative agreement under this section may be used to acquire property or services for the direct benefit or use of the United States Government.” .