[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
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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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