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.