Living Shoreline Grant Fund established. Establishes the Living Shoreline Grant Fund to be administered by the Marine Resources Commission for the purpose of awarding grants to a local government or a federally recognized tribe in the Commonwealth to match federal or other matching funds. The bill requires such grants be used for the construction, renovation, or improvement of living shorelines greater than 1.5 miles in any shore angle direction. The bill requires the Commission to give priority to projects that (i) are located on public lands, (ii) demonstrate the ability for the living shoreline to migrate upland over time through documented control of upland properties, or (iii) are identified as priorities in the Virginia Coastal Resilience Master Plan.