The Don Young Veterans Advancing Conservation Act directs the Secretary of Commerce to create a grant program that awards funding to nonprofit organizations training and employing veterans in underwater marine and coastal conservation work. The legislation is based on findings that veterans benefit from community-focused engagement and that activities like SCUBA diving can help improve mental health and reduce symptoms of post-traumatic stress disorder. Eligible nonprofits can use grant funds to train or employ veterans for various conservation activities including coral restoration, invasive species removal, marine debris cleanup, marine animal rescue, scientific research, and coastal restoration efforts. The bill authorizes $1 million in funding for fiscal year 2024, increasing annually to $1.8 million by fiscal year 2028, and requires the program to be established within 120 days of enactment.