II 112th CONGRESS 1st Session S. 1991 IN THE SENATE OF THE UNITED STATES December 14, 2011 Mr. Whitehouse introduced the following bill; which was read twice and referred to the Committee on Commerce, Science, and Transportation A BILL To establish the National Endowment for the Oceans, and for other purposes.

1.

National Endowment for the Oceans

(a)

Coastal State and coastal waters defined

In this section the terms coastal State and coastal waters have the meanings given the terms coastal state and coastal waters, respectively, in section 304 of the Marine Resources and Engineering Development Act of 1966 (16 U.S.C. 1453). (b)

National Endowment for the Oceans

(1)

Establishment

(A)

In general

There is established in the Treasury of the United States a trust fund to be known as the National Endowment for the Oceans, consisting of such amounts as may be appropriated or credited to the National Endowment for the Oceans. (B)

Investment

Amounts in the National Endowment for the Oceans shall be invested in accordance with section 9602 of the Internal Revenue Code of 1986, and any interest on, and proceeds from, any such investment shall be available for expenditure in accordance with this subsection. (2)

Trustee

The trustee for the National Endowment for the Oceans shall be the Secretary of Commerce. (3)

Allocation of funds

(A)

In general

Each fiscal year, the Secretary shall allocate, at a minimum, an amount equal to the interest earned by the National Endowment for the Oceans in the preceding fiscal year, and may distribute an amount equal to up to 10 percent of the total amounts in the National Endowment for the Oceans— (i)to allocate funding to coastal States and affected Indian tribes; (ii)to make grants to regional ocean and coastal planning bodies; and (iii)to develop and implement a National Grant Program for Oceans and Coastal Waters. (B)

Program adjustments

In each fiscal year when the amount described in subsection (c) does not exceed $100,000,000, the Secretary may elect to fund only the grant program established in subparagraph (A)(iii). (4)

Eligible activities

Funds deposited in the National Endowment for the Oceans may be allocated by the Secretary only to fund grants for programs and activities intended to restore, protect, maintain, or understand living marine resources and their habitats and resources in ocean and coastal waters, including baseline scientific research, ocean observing, and other programs and activities carried out in coordination with Federal and State departments or agencies, that are consistent with Federal environmental laws and that avoid environmental degradation. (5)

Application

To be eligible to receive a grant under paragraph (3)(A), an entity shall submit to the Secretary an application therefor at such time, in such manner, and containing such information as the Secretary considers appropriate. (6)

Funding for coastal States

The Secretary shall allocate funding among States as follows: (A)50 percent of the funds shall be allocated equally among coastal States. (B)25 percent of the funds shall be allocated based on tidal shoreline miles. (C)25 percent of the funds shall be allocated based on the coastal population density of a coastal State. (D)No State shall be allocated more than 10 percent of the total amount of funds available for allocation among coastal States for any fiscal year. (E)No territory shall be allocated more than 1 percent of the total amount of funds available for allocation among coastal States for any fiscal year. (c)

Authorization of interest transfers

Upon the establishment through legislation of a Gulf Coast Restoration Trust Fund, of the total amount made available in any fiscal year in that Trust Fund, an amount equal to the interest earned by the Trust Fund and proceeds from investments made by the Trust Fund in the preceding fiscal year, 50 percent shall be transferred to the National Endowment for Oceans established by section (b)(1)(A).