Library of Congress National Collection Stewardship Fund

There is hereby established in the Treasury of the United States, as an account for the Librarian of Congress, the “Library of Congress National Collection Stewardship Fund” (hereafter in this section referred to as the “Fund”). The Fund shall consist of the following amounts: Amounts in the Fund may be used by the Librarian as follows: Any amounts in the Fund shall remain available until expended. Not later than 180 days after the end of each fiscal year, the Librarian shall submit a joint report on the Fund to the Joint Committee on the Library and the Committees on Appropriations of the House of Representatives and Senate. Not later than 6 months after May 5, 2017, the Librarian shall submit to the Joint Committee on the Library and the Committees on Appropriations of the House of Representatives and Senate a report providing a plan for expenditures from the Fund for the first 5 fiscal years of the Fund’s operation. Prior to any transfer into the Fund, the Librarian shall notify the Joint Committee on the Library and the Committees on Appropriations of the House and the Senate of the amount and origin of funds to be transferred. This section shall apply with respect to fiscal year 2017 and each succeeding fiscal year.