To amend the Coastal Zone Management Act of 1972 to provide grants to coastal states to control or prevent damage caused by chronic coastal erosion and flooding.

Amends the Coastal Zone Management Act of 1972 to direct the Secretary of Commerce to make grants to any coastal State to implement a coastal erosion and flood control assistance program if the Secretary: (1) finds that the coastal State imposes a 30-year erosion setback; (2) finds that the State has or is making progress in developing a management program approved under specified provisions of such Act; and (3) approves the coastal erosion and flood control program of the State under this Act.

Authorizes a coastal State to apply to the Secretary for approval of its coastal erosion and flood control assistance program. Specifies requirements for a program and circumstances in which the Secretary may suspend approval of a program.

Establishes the Coastal Erosion and Flood Control Assistance Fund for making grants under provisions of this Act and administration of such provisions.

Sets forth reporting requirements.