Ocean and Coastal Resources Enhancement Act

Ocean and Coastal Resources Enhancement Act - Establishes the Ocean and Coastal Resources Enhancement Fund. Requires 33 percent of specified revenues attributable to Outer Continental Shelf leases within 200 miles of the coast line to be paid into the Fund. Directs the Secretary of Commerce to pay specified portions of revenues to coastal States and local governments, based on the share of revenues attributable to leases that lie seaward of the boundaries of such States and governments. Requires such States to first use such funds for administrative costs incurred in the leasing and permitting process, with remaining funds to be used for environmental and natural resource projects in the coastal zone.

Establishes the Coastal Zone Impact Assistance Fund. Requires four and one-half percent of all revenues received pursuant to the Outer Continental Shelf Lands Act that are attributable to leases within 200 miles of the coast line to be paid into such Fund. Directs the Secretary to pay specified portions of revenues to coastal States and local governments, based on the number, location, and impact of energy facilities located within a State's coastal zone, or within or seaward of the boundaries of a local government, respectively. Requires such States to first use such funds for administrative costs incurred in the leasing and permitting process for energy facilities, with remaining funds to be used for environmental and natural resource projects in the coastal zone.