This bill makes changes to how the Patrick Leahy Lake Champlain Basin Program is managed and funded. Currently, a specific organization called the New England Interstate Water Pollution Control Commission handles the program's finances. This bill allows the program's leadership to choose a different organization to manage money and handle administrative tasks if they think a change would work better.

The bill requires the program's Steering Committee and the EPA Administrator to review how well the current fiscal agent is doing at least every 5 years. If they decide to switch to a new organization, they'll run a competitive process to find the best option. The new organization should ideally be based in the Lake Champlain area (which spans Vermont and New York), though other locations are acceptable if no suitable local organization exists. When switching to a new fiscal agent, the bill requires them to keep the program running smoothly without interruption and to maintain the same staff and funding levels.

The bill also expands the Great Lakes Fishery Commission's authority to work on Lake Champlain and the surrounding area, allowing them to conduct research, manage fish populations, control invasive species like sea lampreys, and educate the public about the lake's ecosystem. Finally, the bill extends the program's authorization for funding through 2032.