Conservation Of America's Shoreline Terrain and Aquatic Life Act or the COASTAL Act This bill addresses the distribution of revenues collected from oil and gas leasing on the Gulf of Mexico Outer Continental Shelf (OCS) and the Alaska OCS. Specifically, the bill increases the revenue Gulf states (Alabama, Louisiana, Mississippi, and Texas) receive from certain federal oil and leases in the Gulf of Mexico and eliminates the revenue sharing cap; exempts from sequestration payments of such revenue to Gulf states; allocates revenue from energy development in the Alaska OCS to Alaska for specified purposes, including mitigation of damage to fish, wildlife, or natural resources; and eliminates the 2% fee that the federal government currently deducts from a state's share to cover administrative or other costs.