Coastal Trust Fund Act
Sponsored By: Representative Van Drew
Introduced
Summary
Creates a dedicated Coastal Storm Risk Management Trust Fund to provide steady federal funding for Corps of Engineers projects that reduce hurricane and shoreline damage. The bill would direct $1.0 billion each year from receipts under the Outer Continental Shelf Lands Act into a Treasury-held trust and let the Secretary of the Treasury invest and manage balances for eligible coastal storm risk management activities.
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- Coastal families and communities: Would get a more reliable funding source for hurricane and storm damage reduction, shoreline protection, beach nourishment, and post-storm repairs.
- Army Corps of Engineers: Would be able to use the fund for feasibility studies, engineering and design, construction, operation, maintenance, and repair for Congress-authorized coastal storm risk management projects.
- Treasury and funding mechanics: Treasury would certify deposits quarterly, invest unused portions in U.S. obligations, and credit interest and sale proceeds back to the fund. Deposits would be $1.0 billion per year from Outer Continental Shelf receipts, plus investment earnings.
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Bill Overview
Analyzed Economic Effects
3 provisions identified: 3 benefits, 0 costs, 0 mixed.
Create coastal trust fund and funding
This bill would create a Coastal Storm Risk Management Trust Fund in the U.S. Treasury to hold deposits and investment earnings. It would require $1 billion each fiscal year to be credited to the Fund from Outer Continental Shelf receipts (bonuses, rentals, royalties, fees). Interest and proceeds from investments would also go into the Fund. Fund money would be available for coastal storm projects only when Congress provides spending authority in appropriations.
Fund pays federal share for coastal projects
This bill would let amounts from the Fund be used by the Secretary of the Army (through the Chief of Engineers) to pay the Federal share of coastal storm risk management projects when Congress makes money available in appropriations. Eligible projects would include hurricane and storm damage reduction, shoreline protection, periodic beach nourishment, feasibility studies, engineering and design, operation and maintenance, and repair or restoration under existing law. The bill would also add a budget scorekeeping adjustment so that Corps appropriations derived from the Fund and labeled in law for coastal storm projects are counted as that adjustment in the fiscal year.
Treasury rules, reporting, and protections
This bill would make the Treasury Secretary administer the Fund and certify quarterly the amounts to be credited. Treasury would have to invest unused Fund money only in U.S. government interest-bearing or guaranteed obligations, and interest or sale proceeds would return to the Fund. The bill would require an annual report to congressional committees within 60 days after each fiscal year and would direct the Army's OMB budget submission to reflect the Fund projection. It would also protect Land and Water Conservation Fund and Gulf of Mexico receipts from being reduced and transfer any unobligated Fund balance to the Treasury general fund if the Fund ends.
Sponsors & CoSponsors
Sponsor
Van Drew
NJ • R
Cosponsors
Rep. Gillen, Laura [D-NY-4]
NY • D
Sponsored 2/10/2026
Rep. Smith, Christopher H. [R-NJ-4]
NJ • R
Sponsored 2/11/2026
Kelly (PA)
PA • R
Sponsored 3/4/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov