; or (C) marine debris caused by an intentional or grossly negligent act or acts that causes substantial economic or environmental harm. (c) Limitations on expenditures (1) Maximum per event The maximum amount that may be paid from the Marine Debris Response Trust Fund with respect to any single event may not exceed $100,000,000. (2) Minimum balance A payment may be made from the Marine Debris Response Trust Fund only if the amount in the Marine Debris Response Trust Fund after the payment will not be less than $1,000,000. (3) Maximum balance Amounts in the Marine Debris Response Trust Fund may not exceed $500,000,000. (d) Initial funding There are authorized to be appropriated to the Marine Debris Response Trust Fund $2,000,000 for fiscal year 2020 to establish the Marine Debris Response Trust Fund. (e) Authority To borrow (1) In general There are authorized to be appropriated to the Marine Debris Response Trust Fund, as repayable advances, such sums as may be necessary to carry out the purposes of the Marine Debris Response Trust Fund. (2) Limitation on amount outstanding The maximum aggregate amount of repayable advances to the Marine Debris Response Trust Fund outstanding at any one time may not exceed $1,000,000. (3) Repayment of advances (A) In general Advances made to the Marine Debris Response Trust Fund shall be repaid, and interest on such advances shall be paid, to the general fund of the Treasury when the Secretary of Commerce, in consultation with the Secretary of the Treasury, determines that amounts are available for such purposes in the Marine Debris Response Trust Fund. (B) Final repayment No advance may be made to the Marine Debris Response Trust Fund after September 30, 2035, and all advances to such Fund shall be repaid on or before that date. (C) Rate of interest Interest on advances made pursuant to this subsection shall be— (i) at a rate determined by the Secretary of the Treasury (as of the close of the calendar month preceding the month in which the advance is made) to be equal to the