Climate Change Resiliency Fund

(a) Establishment (1) In general There is established in the Treasury of the United States the Climate Change Resiliency Fund. (2) Use of amounts (A) In general The Secretary shall use not less than 40 percent of the amounts in the Fund to fund projects that benefit communities that experience disproportionate impacts from climate change and climate change-causing pollution, including environmental justice communities, frontline communities, and low-income communities. (B) Maintenance of effort All amounts deposited in the Fund in accordance with section 301(a) shall only be used— (i) to fund new projects in accordance with this section; and (ii) for administrative expenses of the Commission authorized under section 104. (3) Responsibility of Secretary The Secretary shall take such action as the Secretary determines necessary to assist in implementing the Fund in accordance with this section, which shall include consulting with relevant Federal agencies. (b) Climate change adaptation projects The Secretary, in consultation with the Commission, shall carry out a program to provide funds to eligible entities to carry out projects for a qualified climate change adaptation purpose. (c) Applications (1) In general An eligible entity desiring funds under subsection (b) shall, with respect to a project, submit to the Secretary an application at such time, in such manner, and containing such information as the Secretary may require. (2) Contents An application submitted by an eligible entity under this subsection shall include data relating to any benefits the eligible entity expects the project to provide to the community in which the applicable project is performed, such as— (A) an economic impact; (B) improvements to public health; or (C) permanent environmental preservation or restoration. (3) Technical assistance The Secretary shall offer technical assistance to eligible entities preparing applications under this subsection. (d) Selection (1) In general The Secretary shall select eligible entities to receive funds to carry out projects under this section based on criteria and guidelines determined and published by the Commission under section 102. (2) Priority In selecting eligible entities under paragraph (1), the Secretary shall give priority to eligible entities planning to perform projects that will serve areas with the greatest need. (e) Non-Federal funding requirement (1) In general Subject to paragraphs (2) and (3), in order to receive funds under this section, an eligible entity shall provide funds for a project in an amount that is equal to not less than 25 percent of the amount of funds provided under this section. (2) Waiver The Secretary may waive all or part of the matching requirement under paragraph (1) for an eligible entity, especially an eligible entity performing a project benefitting a low-income community, frontline community, or an environmental justice community, if the Secretary determines that— (A) there are no reasonable means available through which the eligible entity can meet the matching requirement; or (B) the probable benefit of the project outweighs the public interest of the matching requirement. (3) No-match projects (A) In general The Secretary shall award not less than 10 percent and not more than 40 percent of the total funds awarded under this section to eligible entities to which the matching requirement under paragraph (1) shall not apply. (B) Priority The Secretary shall give priority for funding under subparagraph (A) to an eligible entity performing a project in a community experiencing a disproportionate impact of climate change, including— (i) an environmental justice community; (ii) a low-income community; (iii) a community of color; or (iv) a frontline community. (f) Applicability of Federal law Nothing in this Act shall be construed to waive the requirements of any Federal law or regulation that would otherwise apply to a project that receives funds under this section.