Gulf of Mexico Economic and Environmental Restoration Act of 2010 - Establishes the Gulf of Mexico Recovery Council, consisting of each member of the Gulf Coast Ecosystem Restoration Task Force.
Directs the Council to: (1) establish guidelines for, approve or disapprove, and annually review Gulf state comprehensive restoration plans that address the effects in such a state of the oil spill in the Gulf of Mexico caused by the mobile offshore drilling unit Deepwater Horizon that began on April 20, 2010, with regard to the economy, the environment, and public health; (2) distribute funds to states whose plans are approved; (3) establish a Gulf of Mexico Observation System, to be implemented through a Gulf of Mexico Exploration Research Center, to increase observation and monitoring capabilities in the Gulf; (4) establish a Gulf of Mexico sea grant program to fund Gulf coast restoration projects carried out by sea grant colleges or institutions located in the Gulf states (Alabama, Florida, Louisiana, and Mississippi); (5) establish a Gulf of Mexico seafood marketing program and a Gulf of Mexico Seafood Marketing Board to submit a seafood marketing plan; (6) establish a Gulf of Mexico clean energy program to make grants for qualified clean energy projects and energy efficiency projects; (7) establish a Gulf coast-based working group to implement policies and programs to accomplish Gulf coast economic development, ecosystem restoration, and public health rehabilitation; (8) coordinate the sharing of scientific information and other research associated with Gulf coast economic development, ecosystem restoration, and public health rehabilitation; and (9) submit an annual report to Congress.
Establishes in the Treasury a Gulf of Mexico Economic and Environmental Recovery Fund. Directs the Secretary of the Treasury to deposit into the Fund not less than 80% of any amounts collected as penalties, settlements, or fines under the Federal Water Pollution Control Act (commonly known as the Clean Water Act) in relation to the oil spill. Requires the Fund to be made available to the Council only for activities related to Gulf coast economic development, ecosystem restoration, and public health rehabilitation that are not inconsistent with the regional ecosystem restoration strategy developed by the Task Force.