Coastal Trust Fund Act

This bill would create a Coastal Storm Risk Management Trust Fund in the U.S. Treasury. Each year, $1 billion from federal offshore oil and gas revenues under the Outer Continental Shelf Lands Act would be deposited into the fund, plus interest earned on its investments. If Congress approves spending in appropriations laws, the Army Corps of Engineers could use the money for the federal share of building, maintaining, repairing, and replenishing coastal storm protection projects such as beach nourishment and shoreline protection. The Corps would have to request the full fund balance in its annual budget and report yearly to Congress on how the money was used. The bill also changes federal budget rules so that spending from the fund designated for these projects would count as an adjustment to spending caps.

Full text and official record on Congress.gov

Sponsors

• Jefferson Van Drew Republican sponsor
• 3 cosponsors