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Conserving Our Reefs and Livelihoods Act of 2016 This bill amends the Coral Reef Conservation Act of 2000 to expand the coral reef conservation program by awarding remaining program grant funds to appropriate projects, including monitoring and assessment, research, and education necessary to protect and restore coral reefs. The Coral Reef Conservation Fund is renamed the Coral Reef Conservation and Restoration Fund. The National Oceanic and Atmospheric Administration (NOAA)must establish the Center of Excellence in Coral Reef Ecosystem Science Cooperative Institute.Additionally, the bill directs NOAAto submit to Congress a national coral reef action strategy. The U.S. Coral Reef Task Force is authorized to carry out prize competitions that promote coral reef research and conservation. The prize competitions must be designed to help the United States achieve its goal of developing new and effective ways to advance the understanding, monitoring, and sustainability of coral reef ecosystems. The Department of the Interior may provide coral reef conservation and restoration assistance. Interior must obtain approval from the relevant fish and wildlife management agency of a state or territory before restricting fishing access to state or territorial waters within its jurisdiction. The bill directs NOAA to award competitive grants for colleges, universities, and nonprofit research organizations to research lionfish and their impact on the Atlantic Ocean and Gulf of Mexico ecosystems.

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