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.