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HR 7459

Coastal Trust Fund Act

119th Congress Introduced by Jeff Van Drew and 3 co-sponsors

Creates a dedicated Coastal Storm Risk Management Trust Fund funded by $1B/yr from OCS receipts to support USACE coastal protection, nourishment, and related work.

Referred to the Subcommittee on Water Resources and Environment.
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Bill Summary · HR 7459

Summary of Bill: HR 7459 – Coastal Trust Fund Act (119th Congress)

Purpose and intent

  • Establish a dedicated Coastal Storm Risk Management Trust Fund within the U.S. Treasury.
  • Provide a stable, dedicated funding source to support coastal storm risk management activities conducted by the Army Corps of Engineers (USACE).
  • Clear authorization for using Fund amounts to cover the Federal share of coastal storm risk management projects, including construction, operation and maintenance, repair, and nourishment.

Key provisions and changes

  • Establishment and funding source

    • Creates the Coastal Storm Risk Management Trust Fund in the Treasury.
    • Annual deposits: $1,000,000,000 (one billion dollars) each fiscal year.
    • Deposits sourced from miscellaneous receipts due to the U.S. from Outer Continental Shelf (OCS) activities (bonuses, rentals, royalties, fees, etc.) under the Outer Continental Shelf Lands Act.
    • Includes all investment earnings on the Fund, with interest and proceeds from investments credited back to the Fund.

  • Administration and investment

    • The Secretary of the Treasury administers the Fund and certifies quarterly the amounts required to be credited.
    • Investment of unobligated Fund balances: principal may be invested in U.S. Treasury interest-bearing obligations; interest and proceeds also credited to the Fund.
    • Provisions ensure that the Fund does not reduce or affect other existing conservation or Gulf-related funding (e.g., Land and Water Conservation Fund and Gulf of Mexico Energy Security Act allocations).

  • Use and availability of funds

    • Amounts in the Fund are available, to the extent provided in appropriations acts, for the Federal share of costs of:
    • Construction
    • Operation
    • Maintenance
    • Repair
    • Rehabilitation
    • Periodic coastal nourishment
    • Specifically for coastal storm risk management projects
    • Annual budget requests to OMB by the Secretary equal the projected Fund balance at the start of the fiscal year.
    • Annual reporting requirement: Secretary must report, within 60 days after year-end, to:
    • Total amounts made available for the year
    • Projects funded/obligated or expended
    • Unobligated Fund balances
    • Definitions:
    • “Coastal storm risk management project” covers hurricane/storm damage reduction, shoreline protection, periodic nourishment, and related feasibility/design/engineering/maintenance/repair activities as authorized by Congress and carried out by USACE.
    • “Secretary” = Secretary of the Army, acting through the Chief of Engineers.

  • Budgetary treatment expansion

    • Amends the Balanced Budget and Emergency Deficit Control Act to treat appropriations derived from the Coastal Storm Risk Management Trust Fund (for designated coastal projects) as an eligible source for adjusting the annual budget cap for those accounts (Construction, Mississippi River and Tributaries, O&M), if Congress designates them as coastal storm risk management projects.

Who or what would be affected

  • Federal level

    • Creation of a new dedicated funding stream for coastal storm risk management.
    • USACE projects eligible for Federal funding under the Fund’s framework.
    • Treasury administration and investment of Fund assets.
    • Budgetary calculations and reporting tied to the Fund.

  • Other programs preserved

    • The bill specifies that the new Fund status should not reduce or affect existing allocations to the Land and Water Conservation Fund or Gulf of Mexico Energy Security Act funds.

  • Broad impact targets

    • Coastal communities and infrastructure at risk from hurricanes, storm surge, and shoreline erosion could benefit through more predictable funding for protection, nourishment, and related activities.

Procedural and timeline aspects

  • Authorization and deposits

    • $1 billion annual deposit from OCS receipts begins as defined by the Act (no start date specified beyond enactment in the bill text; the bill was introduced February 10, 2026).

  • Governance and reporting

    • Quarterly certification by the Treasury Secretary for deposits.
    • Annual reporting to Congress (House Transportation and Infrastructure Committee; Senate Environment and Public Works Committee).

  • Legislative path

    • Referred to multiple committees: Transportation and Infrastructure; Natural Resources; Budget.
    • Subcommittee consideration indicated in action history (Water Resources and Environment).

Summary assessment

HR 7459 would create a dedicated, monetized trust fund to support federal coastal storm risk management projects via USACE, backed by guaranteed annual deposits from outer continental shelf receipts and investment earnings. It aims to provide stable, long-term funding for protective and nourishment activities while maintaining existing conservation funding and aligning budgetary treatment with the broader federal fiscal framework. The bill includes clear administration, investment, expenditure, reporting, and project-definition rules to govern the Fund.

Compiled from official sources — confirm details with the bill’s official record.

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