This bill establishes four distinct conservation programs, each with its own dedicated fund, to protect vulnerable species and their habitats. These programs focus on North American butterflies , Pacific Islands plants , United States freshwater mussels , and Southwest desert fish . The overarching goal is to perpetuate healthy populations, assist in the conservation of threatened and endangered species, and provide financial resources for these initiatives. Each program directs the Secretary of the Interior to provide competitive financial assistance, including multiyear grants, for conservation projects. These projects must align with existing authorities under the Endangered Species Act of 1973. Eligible applicants include State and Tribal agencies, research institutions, and nonprofit organizations, though Federal agencies may only participate as partners. Project proposals must detail their purpose, methodology, anticipated outcomes, and demonstrate stakeholder engagement, including local public participation and, where necessary, free, informed, and prior consent from indigenous communities. The Secretary prioritizes projects that conserve species listed under the Endangered Species Act, ensure long-term sustainability, and secure matching funds. However, the Secretary can waive these priorities for high-priority projects. Each of the four conservation efforts establishes a dedicated fund within the Treasury, comprising appropriated amounts, transfers, and investment interest. For each fund, $5,000,000 is authorized to be appropriated annually from fiscal years 2027 through 2032. These funds are to be used for conservation assistance, with a small portion allocated for administrative expenses. The Secretary is also authorized to accept donations of money or other personal property for these funds. To ensure accountability and transparency, the bill mandates annual reports to Congress from the Secretary of the Interior. These reports must detail the financial status of each fund, summarize and evaluate funded projects, and assess the status of the respective threatened and endangered species populations.