II 109th CONGRESS 2d Session S. 3562 IN THE SENATE OF THE UNITED STATES June 23, 2006 Mr. Alexander (for himself and Mr. Salazar) introduced the following bill; which was read twice and referred to the Committee on Energy and Natural Resources A BILL To allocate a portion of the revenue derived from lease sales in the 181 Area to the land and water conservation fund for use by State and local governments for conservation purposes.

1.

Short title

This Act may be cited as the Land and Water Conservation Fund Investment Act.

2.

Definitions

In this Act: (1)

181 Area

The term 181 Area means the area identified in map 15, page 58, of the Proposed Final Outer Continental Shelf Oil and Gas Leasing Program for 1997–2002 of the Minerals Management Service. (2)

Secretary

The term Secretary means the Secretary of the Interior. (3)

Special account

The term special account means the special account described in section 3(a).

3.

Disposition and use of 181 area rental and royalty payments

(a)

In general

Notwithstanding section 9 of the Outer Continental Shelf Lands Act (43 U.S.C. 1338), 50 percent of the bonuses, rentals, royalties, and other sums due and payable to the United States from leases in the 181 Area shall be deposited into a special account in the Treasury. (b)

Transfer of funds

Each fiscal year the Secretary of the Treasury shall transfer to the Secretary— (1)$450,000,000 from the special account; or (2)if the balance in the special account is not sufficient to transfer the full amount specified in paragraph (1)— (A)any amounts that are in the special account; and (B)from the unobligated balance of the land and water conservation fund established under section 2 of the Land and Water Conservation Fund Act of 1965 (16 U.S.C. 460l–5), an amount equal to the difference between— (i)$450,000,0000; and (ii)the amount transferred under subparagraph (A). (c)

Use of funds

Amounts transferred to the Secretary under subsection (b) shall— (1)be made available, without further appropriation, to provide financial assistance to States in accordance with section 6 of the Land and Water Conservation Fund Act of 1965 (16 U.S.C. 460l–8); (2)remain available until expended; and (3)be in addition to any amounts appropriated under the Land and Water Conservation Fund Act of 1965 (16 U.S.C. 460l–4 et seq.).