H.R. 7459

119 HR 7459 IH: Coastal Trust Fund Act
 U.S. House of Representatives
 2026-02-10
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 I  119th CONGRESS  2d Session  H. R. 7459  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.
1.
Short title
This Act may be cited as the   Coastal Trust Fund Act  .
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.
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.
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.
 .