Ocean and Coastal Resources Management and Development Act

(Reported to Senate from the Committee on Commerce, Science, and Transportation with amendment, S. Rept. 98-112)

Ocean and Coastal Resources Management and Development Act - Establishes the Ocean and Coastal Resources Management and Development Fund. States that five percent of Outer Continental Shelf gas and oil lease revenues shall be paid into such Fund. Requires that at least ten percent of amounts in such Fund be used each fiscal year, beginning with FY 1984, to carry out the National Sea Grant College Program Act.

Directs the Secretary of Commerce to provide for the establishment of a National Coastal Resources Research and Development Institute to be administered in affiliation with the Oregon State University Marine Science Center. Requires the Institute to conduct research, education, and demonstration projects designed to promote development of ocean and coastal resources and the economic diversification of coastal areas. Requires the Institute to report to the Secretary on its activities within two years after enactment of this Act. Provides for the transfer to the Institute of a specified percentage of amounts deposited in the Fund each fiscal year, beginning with FY 1984.

Requires the Secretary to make national ocean and coastal resources management and development grants to each State for: (1) living marine resources; (2) coastal management planning and implementation; (3) energy impact assistance; (4) research, education, and natural resource management; (5) capital infrastructure; and (6) enhancement of natural coastal habitat.

Sets forth an allocation formula based upon oil or gas production, coastal population, shoreline, bonus revenues, and coastal related energy facilities. Establishes minimum and maximum grant amounts, with excess funds to be shared among those States eligible for additional amounts.

Requires a State to give at least 30 percent of its grant money to local coastal communities.

Provides for grant audits.