National Oceans and Coastal Security Act

National Oceans and Coastal Security Act

This bill authorizes the Department of Commerce and the National Fish and Wildlife Foundation to establish the National Oceans and Coastal Security Fund as a tax exempt fund for supporting programs and activities to protect, conserve, and restore ocean and coastal resources and coastal infrastructure.

Donations from a foreign government may not be deposited into the fund.

Commerce must prioritize projects that have non-federal partners sharing the project costs.

According to a specified allocation formula, the Foundation must award a minimum percentage of funds as grants to eligible coastal states while awarding a lesser percentage of funds to entities including states, Indian tribes, regional bodies, associations, non-governmental organizations, and academic institutions.

The bill amends the Outer Continental Shelf Lands Act to require the President to ensure that a certain percent of offshore energy revenues are deposited into the fund.