Coastal Trust Fund Act

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7459 Introduced in House (IH)]

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119th CONGRESS
  2d Session
                                H. R. 7459

To establish the Coastal Storm Risk Management Trust Fund and authorize 
   the use of amounts in such Fund for coastal storm risk management 
     activities of the Corps of Engineers, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 10, 2026

  Mr. Van Drew (for himself and Ms. Gillen) introduced the following 
    bill; which was referred to the Committee on Transportation and 
Infrastructure, and in addition to the Committees on Natural Resources, 
   and the Budget, for a period to be subsequently determined by the 
  Speaker, in each case for consideration of such provisions as fall 
           within the jurisdiction of the committee concerned

_______________________________________________________________________

                                 A BILL


 
To establish the Coastal Storm Risk Management Trust Fund and authorize 
   the use of amounts in such Fund for coastal storm risk management 
     activities of the Corps of Engineers, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Coastal Trust Fund Act''.

SEC. 2. COASTAL STORM RISK MANAGEMENT TRUST FUND.

    (a) Establishment.--There is established in the Treasury of the 
United States a trust fund to be known as the ``Coastal Storm Risk 
Management Trust Fund'', consisting of amounts credited to the Fund as 
provided in this section.
    (b) Deposits.--There shall be credited to the Fund--
            (1) $1,000,000,000 for each fiscal year, derived from 
        available revenues received by the United States from bonuses, 
        rentals, royalties, fees, and other receipts due and payable to 
        the United States for deposit in the Treasury as miscellaneous 
        receipts under the Outer Continental Shelf Lands Act (43 U.S.C. 
        1331 et seq.); and
            (2) all amounts earned on investments of the Fund under 
        subsection (d)(2).
    (c) Availability.--Amounts in the Fund shall be available for 
obligation and expenditure only as provided in section 3 of this Act 
and shall remain available until expended.
    (d) Other Rules.--
            (1) Administration.--The Fund shall be administered by the 
        Secretary of the Treasury, who shall determine and certify 
        quarterly the amounts required to be credited to the Fund under 
        subsection (b).
            (2) Investment.--The Secretary of the Treasury shall invest 
        such portion of the Fund as is not, in the judgment of the 
        Secretary, required to meet current withdrawals. Such 
        investments may be made only in interest-bearing obligations of 
        the United States or in obligations guaranteed as to principal 
        and interest by the United States. The interest on, and the 
        proceeds from the sale or redemption of, any such obligations 
        shall be credited to and form part of the Fund.
            (3) Certain amounts otherwise made available held 
        harmless.--Nothing in this section shall be construed to reduce 
        or otherwise affect--
                    (A) the amounts deposited in the Land and Water 
                Conservation Fund under section 200302 of title 54, 
                United States Code; and
                    (B) amounts made available under section 105(a)(2) 
                of the Gulf of Mexico Energy Security Act of 2006 (43 
                U.S.C. 1331 note).
            (4) Termination.--Upon termination of the Fund, any 
        unobligated balances remaining therein shall be transferred to 
        the general fund of the Treasury.

SEC. 3. AVAILABILITY AND USE OF FUNDS.

    (a) Availability.--To the extent amounts are made available in 
advance in appropriations Acts, amounts in the Coastal Storm Risk 
Management Trust Fund shall be available to the Secretary for 
obligation and expenditure for the Federal share of the costs of 
construction, operation, maintenance, repair, rehabilitation, and 
periodic nourishment of coastal storm risk management projects.
    (b) Annual Budget Request.--The Secretary's budget submission to 
the Office of Management and Budget for any fiscal year shall be equal 
to the total amount projected to be in the Fund at the beginning of 
such fiscal year.
    (c) Annual Report.--Not later than 60 days after the end of each 
fiscal year, the Secretary shall submit to the Committee on 
Transportation and Infrastructure of the House of Representatives and 
the Committee on Environment and Public Works of the Senate a report 
describing--
            (1) the total amounts made available from the Fund under 
        this section for that fiscal year;
            (2) the coastal storm risk management projects for which 
        amounts were obligated or expended; and
            (3) the unobligated balance of the Fund at the end of that 
        fiscal year.
    (d) Definitions.--In this section:
            (1) Coastal storm risk management project.--The term 
        ``coastal storm risk management project'' means a project for 
        hurricane and storm damage reduction, coastal storm risk 
        management, shoreline protection, or periodic nourishment that 
        is specifically authorized by Congress and carried out by the 
        Secretary under any provision of law, including any associated 
        feasibility studies, engineering and design activities 
        (including preconstruction engineering and design), operation 
        and maintenance activities, and repair or restoration under 
        section 5 of the Act of August 18, 1941 (33 U.S.C. 701n).
            (2) Coastal storm risk management trust fund; fund.--The 
        terms ``Coastal Storm Risk Management Trust Fund'' and ``Fund'' 
        each mean the Coastal Storm Risk Management Trust Fund 
        established under section 2.
            (3) Secretary.--The term ``Secretary'' means the Secretary 
        of the Army, acting through the Chief of Engineers.

SEC. 4. BUDGETARY TREATMENT EXPANSION AND ADJUSTMENT FOR THE COASTAL 
              STORM RISK MANAGEMENT TRUST FUND.

    Section 251(b)(2) of the Balanced Budget and Emergency Deficit 
Control Act of 1985 (2 U.S.C. 901(b)(2)) is amended by adding at the 
end the following:
                    ``(H) Coastal storm risk management projects.--If, 
                for any fiscal year, appropriations for the 
                Construction, Mississippi River and Tributaries, and 
                Operation and Maintenance accounts of the Corps of 
                Engineers are enacted that are derived from the Coastal 
                Storm Risk Management Trust Fund established under 
                section 2 of the Coastal Trust Fund Act and that the 
                Congress designates in statute as being for coastal 
                storm risk management projects (as defined in section 3 
                of such Act), then the adjustment for that fiscal year 
                shall be the total of such appropriations that are 
                derived from such Fund and so designated.''.
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