A bill to amend the Coastal Zone Management Act of 1972 to provide for the sharing of Outer Continental Shelf revenues with coastal States.

Amends the Coastal Zone Management Act of 1972 to authorize appropriations to the Secretary of the Interior for annual grants to coastal States equal to 25 percent of all moneys received from sales, bonuses, royalties, and rentals of public lands but not less than $50,000,000 for a seven year period beginning October 1, 1977.

Sets forth the priority of purposes that shall be adhered to by each coastal state in the use of proceeds from coastal State annual grants.

Terminates the authority of the Secretary to make loans to assist states or units of local government to provide new or improved public facilities or services which are required as a result of coastal energy activity.