The bill establishes the Mississippi River Basin Fishery Commission within the Department of the Interior. Its primary purpose is to improve the management and long-term sustainability of interjurisdictional fishery resources across the 31-state Mississippi River Basin. The Commission will also coordinate basin-wide efforts to control aquatic invasive species, particularly invasive carps, drawing inspiration from existing multi-state fishery management bodies.

Any eligible entity, including states, Indian Tribes, and federal agencies like the U.S. Fish and Wildlife Service, may join the Commission. State directors of fisheries serve as voting delegates, while other entities appoint their representatives. The Commission will be a body corporate, establishing its own governance, appointing an executive director, and making decisions by majority vote, though it strives for unanimity. Importantly, the Commission's authority is nonbinding, preserving the autonomy of member states.

The Commission is tasked with overseeing fishery management plans for the six Mississippi River sub-basins. It will adopt and utilize the existing MICRA Joint Strategic Plan for Management of Mississippi River Fisheries as its foundational framework. Key duties include researching best scientific methods for conservation, developing coordinated strategies to prevent and control invasive species, and advising relevant administrative agencies. The Commission must periodically reexamine and evaluate this strategic plan and report its findings to Congress.

To support its objectives, the Commission will establish both competitive and formula grant programs within two years of enactment. These grants will fund eligible projects aligned with the Joint Strategic Plan and sub-basin management plans, focusing on interjurisdictional fisheries and invasive species control. The bill authorizes significant appropriations, including $1 million for initial administrative steps in fiscal year 2026, followed by $30 million annually for fiscal years 2027-2029, and $50 million annually for fiscal years 2030-2032 for management and grant activities.