(a) Establishment
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").

(b) Contents of Fund
The Fund shall consist of the following amounts:

(1) ¹ Such amounts as may be transferred by the Librarian from available amounts appropriated for any fiscal year for the Library of Congress under the heading "Salaries and Expenses".

(c) Use of amounts
Amounts in the Fund may be used by the Librarian as follows:

(1) The Librarian may use amounts directly for the purpose of preparing collection materials of the Library of Congress for long-term storage.

(2) The Librarian may transfer amounts to the Architect of the Capitol for the purpose of designing, constructing, altering, upgrading, and equipping collections preservation and storage facilities for the Library of Congress, or for the purpose of acquiring real property by lease for the preservation and storage of Library of Congress collections in accordance with section 1823a of this title.

(d) Continuing availability of funds
Any amounts in the Fund shall remain available until expended.

(e) Annual report
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.

(f) Initial 5–year plan
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.

(g) Notification of transfers
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.

(h) Effective date
This section shall apply with respect to fiscal year 2017 and each succeeding fiscal year.