To direct the Secretary of Commerce to establish a grant program to support the restoration of coral reefs in South Florida.

The Secretary shall establish a grant program to award amounts to eligible entities—

(1) to carry out coral reef restoration activities in South Florida; or

(2) to reimburse such eligible entities for amounts spent by such eligible entities to carry out coral reef restoration activities in South Florida within the 5 years preceding the date on which such eligible entities are awarded a grant under this section.

To be eligible for a grant under this section, an eligible entity shall submit to the Secretary an application in such form, at such time, and containing such information as the Secretary determines appropriate.

The Secretary may not award any single eligible entity more than $1,000,000 under this section in a single fiscal year.

There is authorized to be appropriated to the Secretary to carry out this section $5,000,000 for each of fiscal years 2024 through 2028.

In this section:

The term coral reef restoration activity means—

(A) the sexual propagation of coral to increase diversity of genetic-based resiliency in support of coral restoration; and

(B) the evacuation, rehabilitation, and re-deployment of coral fragments.

The term eligible entity —

(A) means—

(i) a State;

(ii) a local municipality;

(iii) a nonprofit organization; and

(iv) a nongovernmental organization; and

(B) includes the Mote Marine Laboratory.

The term nonprofit organization means an organization—

(A) described in section 501(c)(3) of the Internal Revenue Code of 1968; and

(B) exempt from taxation under section 501(a) of such Code.

The term Secretary means the Secretary of Commerce, acting through the Administrator of the National Oceanic and Atmospheric Administration.

The term South Florida means—

(A) all land and water within the administrative boundaries of the South Florida Water Management District;

(B) regional coastal waters, including Biscayne Bay, the Caloosahatchee Estuary, Florida Bay, Indian River Lagoon, and St. Lucie River Estuary; and

(C) the Florida Reef Tract.