The LPOE Modernization Trust Fund Act establishes the Land Port of Entry Modernization Trust Fund in the U.S. Treasury to finance improvements at land ports of entry. This fund will receive deposits from various sources, including 25 percent of certain express consignment fees, up to $1.6 billion annually from Merchandise Processing Fees, and 25 percent of new surcharges on immigrant user fees, land border inspection fees, and machine-readable visa fees. Additionally, up to $1.6 billion from the existing Customs User Fee Account will be transferred to the Trust Fund upon enactment. Amounts from the Trust Fund, subject to appropriations, are designated for the construction of new ports , expansion and improvement of existing infrastructure , procurement of technology for inspection facilities, major repairs, and the hiring of U.S. Customs and Border Protection officers and staff. The Secretary of Homeland Security will carry out these purposes in consultation with various federal, state, local, and tribal entities, considering regional bi-national transportation plans. A Land Port of Entry Modernization Oversight Board , composed of federal officials and industry representatives, will advise the Secretary on project prioritization and review fund expenditures, with annual reports required from both the Secretary and the Board.