National Oceans and Coastal Security Act

This bill authorizes the Department of Commerce and the National Fish and Wildlife Foundation to establish the National Oceans and Coastal Security Fund as a tax exempt fund for supporting programs and activities to protect, conserve, and restore ocean and coastal resources and coastal infrastructure.

Donations from a foreign government may not be deposited into the fund.

Commerce must prioritize projects that have non-federal partners sharing the project costs.

According to a specified allocation formula, the Foundation must award a minimum percentage of funds as grants to eligible coastal states while awarding a lesser percentage of funds to entities including states, Indian tribes, regional bodies, associations, non-governmental organizations, and academic institutions.

The bill amends the Outer Continental Shelf Lands Act to require the President to ensure that a certain percent of offshore energy revenues are deposited into the fund.