The bill establishes the Critically Endangered Animals Conservation Fund to financially assist projects aimed at conserving critically endangered animal species outside the US. Grant proposals can be submitted by wildlife management authorities or other qualified individuals. The Secretary of the Interior will evaluate proposals based on specific goals such as sustaining viable populations of endangered species and will give preference to those with available matching funds. The Fund will receive appropriations of $5,000,000 annually, and the Secretary will report to Congress on the program's results and effectiveness every two years.