The Gulf Coast Ecosystem Restoration Council (Federal Council) was established by the passage of the "Resources and Ecosystems Sustainability, Tourist Opportunities, and Revived Economies of the Gulf Coast States Act of 2012," which is also known as the RESTORE Act.
Pursuant to the RESTORE Act, the US Department of Treasury has issued regulations concerning the investment and use of amounts deposited in the Gulf Coast Restoration Trust Fund. After public comment, the regulations became effective October 14, 2014.
Treasury Releases RESTORE Act Regulations
RESTORE Act Spil Impact Component Planning Allocation Interim Final Rule
Under the Spill Impact Component of the RESTORE Act, all five Gulf States will receive a statutory minimum allocation of funds to develop and implement individual State Expenditure Plans for addressing the impacts of the Deepwater Horizon Oil Spill. In August, 2014, the Gulf Coast Ecosystem Restoration Council published an Interim Final Rule to allow states to request funding up to the statutory minimum for purposes of developing State Expenditure Plans.
Interim Final Rule