[Congressional Record Volume 167, Number 139 (Wednesday, August 4, 2021)]
[Senate]
[Pages S5853-S5860]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2508. Mr. CRAPO (for himself, Mr. Wyden, Mr. Merkley, and Mr. 
Risch) submitted an amendment intended to be proposed to amendment SA 
2137 proposed by Mr. Schumer (for Ms. Sinema (for herself, Mr. Portman, 
Mr. Manchin, Mr. Cassidy, Mrs. Shaheen, Ms. Collins, Mr. Tester, Ms. 
Murkowski, Mr. Warner, and Mr. Romney)) to the bill H.R. 3684, to 
authorize funds for Federal-aid highways, highway safety programs, and 
transit programs, and for other purposes; which was ordered to lie on 
the table; as follows:

        At the end of division G, add the following:

            TITLE XII--FOREST MANAGEMENT FOR RURAL STABILITY

     SEC. 71201. SHORT TITLE.

       This title may be cited as the ``Forest Management for 
     Rural Stability Act''.

[[Page S5854]]

  


     SEC. 71202. FEDERAL CHARTER FOR FOREST AND REFUGE COUNTY 
                   FOUNDATION AND ESTABLISHMENT OF NATURAL 
                   RESOURCES PERMANENT FUND.

       (a) Federal Charter for Forest and Refuge County 
     Foundation.--Subtitle III of title 36, United States Code, is 
     amended by inserting after chapter 3001 the following:

          ``CHAPTER 3002--FOREST AND REFUGE COUNTY FOUNDATION

``Sec.
``300201. Definitions.
``300202. Establishment.
``300203. Status and applicable laws.
``300204. Board of Directors.
``300205. Bylaws and duties.
``300206. Authority of Corporation.
``300207. Establishment of Natural Resources Permanent Fund.

     ``Sec. 300201. Definitions

       ``In this chapter:
       ``(1) Agency head.--The term `agency head' means--
       ``(A) the Secretary of the Treasury;
       ``(B) the Chief of the Forest Service;
       ``(C) the Director of the Bureau of Land Management; and
       ``(D) the Director of the United States Fish and Wildlife 
     Service.
       ``(2) Board.--The term `Board' means the Board of Directors 
     of the Corporation.
       ``(3) Chairperson.--The term `Chairperson' means the 
     Chairperson of the Board.
       ``(4) Corporation.--The term `Corporation' means the Forest 
     and Refuge County Foundation established by section 300202.
       ``(5) County payment; full funding amount; state payment.--
     The terms `county payment', `full funding amount', and `State 
     payment' have the meanings given those terms in section 3 of 
     the Secure Rural Schools and Community Self-Determination Act 
     of 2000 (16 U.S.C. 7102).
       ``(6) Eligible county.--
       ``(A) In general.--The term `eligible county' means--
       ``(i) a county that is eligible for a payment under the 
     Secure Rural Schools and Community Self-Determination Act of 
     2000 (16 U.S.C. 7101 et seq.), with respect to an account 
     established by paragraph (1) or (2) of section 300207(b); or
       ``(ii) a county that is eligible for a payment under 
     section 401(c) of the Act of June 15, 1935 (commonly known as 
     the `Refuge Revenue Sharing Act') (49 Stat. 383, chapter 261; 
     16 U.S.C. 715s(c)), with respect to the account established 
     by section 300207(b)(3).
       ``(B) Exclusion.--The term `eligible county' does not 
     include a county that has elected to opt out of distributions 
     from the Fund under section 300207(e)(4)(A).
       ``(7) Fund.--The term `Fund' means the Natural Resources 
     Permanent Fund established by section 300207(a).
       ``(8) Highest historic payment.--The term `highest historic 
     payment' means--
       ``(A) with respect to the Forest Service Account of the 
     Fund, an amount equal to the total amount of State payments 
     received under section 101(a) of the Secure Rural Schools and 
     Community Self-Determination Act of 2000 (16 U.S.C. 7111(a)) 
     for fiscal year 2008 (as adjusted to reflect changes during 
     the period beginning on October 1, 2008, in the Consumer 
     Price Index for All Urban Consumers published by the Bureau 
     of Labor Statistics of the Department of Labor); and
       ``(B) with respect to the Bureau of Land Management Account 
     of the Fund, an amount equal to the total amount of county 
     payments received under section 101(b) of the Secure Rural 
     Schools and Community Self-Determination Act of 2000 (16 
     U.S.C. 7111(b)) for fiscal year 2006 (as adjusted to reflect 
     changes during the period beginning on October 1, 2006, in 
     the Consumer Price Index for All Urban Consumers published by 
     the Bureau of Labor Statistics of the Department of Labor).
       ``(9) Manager.--The term `manager' means the manager of 
     investments employed by the Board pursuant to section 
     300205(c)(3).
       ``(10) Resource advisory committee.--The term `resource 
     advisory committee' means--
       ``(A) a resource advisory committee established under 
     section 205 of the Secure Rural Schools and Community Self-
     Determination Act of 2000 (16 U.S.C. 7125) (as in effect on 
     the day before the date of enactment of this chapter); and
       ``(B) an advisory council established pursuant to section 
     309(a) of the Federal Land Policy and Management Act of 1976 
     (43 U.S.C. 1739(a)).
       ``(11) Secretary concerned.--The term `Secretary concerned' 
     means--
       ``(A) the Secretary of Agriculture, with respect to the 
     account established by section 300207(b)(1); and
       ``(B) the Secretary of the Interior, with respect to an 
     account established by paragraph (2) or (3) of section 
     300207(b).

     ``Sec. 300202. Establishment

       ``There is established a federally chartered, nonprofit 
     corporation, to be known as the `Forest and Refuge County 
     Foundation', which shall be incorporated in the State of 
     Oregon.

     ``Sec. 300203. Status and applicable laws

       ``(a) Non-Federal Entity.--The Corporation is not--
       ``(1) a department, agency, or instrumentality of the 
     United States Government; or
       ``(2) subject to title 31.
       ``(b) Liability.--The United States Government shall not be 
     liable for the actions or inactions of the Corporation.
       ``(c) Nonprofit Corporation.--The Corporation shall have 
     and maintain the status of the Corporation as a nonprofit 
     corporation exempt from taxation under the Internal Revenue 
     Code of 1986.

     ``Sec. 300204. Board of Directors

       ``(a) Authority.--The powers of the Corporation shall be 
     vested in a Board of Directors that governs the Corporation.
       ``(b) Membership.--
       ``(1) Composition.--The Board shall be composed of 11 
     members, of whom--
       ``(A) 3 shall be appointed by the Chief of the Forest 
     Service;
       ``(B) 2 shall be appointed by the Director of the Bureau of 
     Land Management; and
       ``(C) 6 shall be appointed by the Secretary of the 
     Treasury.
       ``(2) Qualifications.--In making appointments under 
     paragraph (1), the agency heads shall--
       ``(A) appoint members who represent the various regions of 
     the United States; and
       ``(B) ensure that the membership of the Board is--
       ``(i) apolitical; and
       ``(ii) fairly balanced in terms of--

       ``(I) the points of view represented; and
       ``(II) the functions to be performed by the Board, by 
     appointing--

       ``(aa) 3 members who are county elected officials, as of 
     the date of appointment of the members, of whom--
       ``(AA) 1 shall be an elected official of a county that 
     contains Federal land described in section 3(7)(A) of the 
     Secure Rural Schools and Community Self-Determination Act of 
     2000 (16 U.S.C. 7102(7)(A));
       ``(BB) 1 shall be an elected official of a county that 
     contains Federal land described in section 3(7)(B) of the 
     Secure Rural Schools and Community Self-Determination Act of 
     2000 (16 U.S.C. 7102(7)(B)); and
       ``(CC) 1 shall be an elected official of a county that is 
     eligible for a payment under section 401(c) of the Act of 
     June 15, 1935 (commonly known as the `Refuge Revenue Sharing 
     Act') (49 Stat. 383, chapter 261; 16 U.S.C. 715s(c));
       ``(bb) 1 member to represent rural economic development 
     interests;
       ``(cc) 6 members with expert experience in fund management 
     or finance; and
       ``(dd) 1 member to represent education interests.
       ``(3) Prohibition.--A member of the Board, other than a 
     member described in paragraph (2)(B)(ii)(II)(aa), shall not 
     hold an office, position, or employment in any political 
     party.
       ``(4) Date.--The appointments of the members of the Board 
     shall be made not later than 90 days after the date of 
     enactment of this chapter.
       ``(c) Chairperson.--
       ``(1) In general.--The Chairperson of the Board shall be 
     selected from among the members of the Board by a majority 
     vote of the members.
       ``(2) Term of service.--The Chairperson of the Board--
       ``(A) shall serve for a term of not longer than 4 years; 
     and
       ``(B) may be reelected to serve an additional term, subject 
     to the condition that the Chairperson may serve for not more 
     than 2 consecutive terms.
       ``(d) Terms.--
       ``(1) In general.--The term of the members of the Board 
     shall be 6 years, except that the agency heads shall 
     designate staggered terms for the members initially appointed 
     to the Board.
       ``(2) Reappointment.--A member of the Board may be 
     reappointed to serve an additional term, subject to the 
     condition that the member may serve for not more than 2 
     consecutive terms.
       ``(e) Vacancy.--A vacancy on the Board shall be filled--
       ``(1) by not later than 90 days after the date on which the 
     vacancy occurs; and
       ``(2) in the manner in which the original appointment was 
     made.
       ``(f) Transitions.--Any member of the Board may continue to 
     serve after the expiration of the term for which the member 
     was appointed or elected until a qualified successor has been 
     appointed or elected.
       ``(g) Meetings and Quorum.--
       ``(1) Meetings.--
       ``(A) In general.--The Board shall meet--
       ``(i) not less frequently than once each calendar year; and
       ``(ii)(I) at the call of--

       ``(aa) the Chairperson; or
       ``(bb) 3 or more members; or

       ``(II) as otherwise provided in the bylaws of the 
     Corporation.
       ``(B) Initial meeting.--Not later than 150 days after the 
     date of enactment of this chapter, the Board shall hold an 
     initial meeting of the Board.
       ``(2) Quorum.--A quorum of the Board, consisting of a 
     majority of the members of the Board, shall be required to 
     conduct any business of the Board.
       ``(3) Approval of board actions.--Except as otherwise 
     provided, the threshold for approving Board actions shall be 
     as set forth in the bylaws of the Corporation.
       ``(h) Reimbursement of Expenses.--
       ``(1) In general.--A voting member of the Board--
       ``(A) shall serve without pay; but
       ``(B) subject to paragraph (2), may be reimbursed for the 
     actual and necessary traveling and subsistence expenses 
     incurred by the member in the performance of duties for the 
     Corporation.
       ``(2) Maximum amount.--The amount of reimbursement under 
     paragraph (1)(B) may not exceed the amount that would be 
     authorized under section 5703 of title 5 for the payment

[[Page S5855]]

     of expenses and allowances for an individual employed 
     intermittently in the Federal Government service.

     ``Sec. 300205. Bylaws and duties

       ``(a) In General.--The Board shall adopt, and may amend, 
     the bylaws of the Corporation.
       ``(b) Bylaws.--The bylaws of the Corporation shall include, 
     at a minimum--
       ``(1) the duties and responsibilities of the Board; and
       ``(2) the operational procedures of the Corporation.
       ``(c) Duties and Responsibilities of Board.--The Board 
     shall be responsible for actions of the Corporation, 
     including--
       ``(1)(A) employing individuals at the Corporation to 
     provide investment management services; or
       ``(B) retaining the services of investment management 
     services providers;
       ``(2) employing individuals at the Corporation to provide 
     accounting and administrative services;
       ``(3) employing a manager of investments to manage the 
     amounts authorized to be invested by the Board in accordance 
     with subsection (d);
       ``(4) entering into a contract with 1 or more banking or 
     trust entities to act as the custodian of the assets of the 
     Fund; and
       ``(5) engaging other appropriate professional service 
     providers to support the Board and the employees of the Board 
     in carrying out the duties and responsibilities of the Board 
     under this chapter.
       ``(d) Authority of Manager.--Subject to the direction of 
     the Board, the manager shall have control over the amounts 
     under the jurisdiction of the Board in the same manner as if 
     the manager owned those amounts.

     ``Sec. 300206. Authority of Corporation

       ``Except as otherwise provided in this chapter, the 
     Corporation, acting through the manager, shall have the 
     authority--
       ``(1) to manage the Fund;
       ``(2) to make investments of amounts in the Fund under 
     section 300207(d);
       ``(3) to make distributions from the Fund under section 
     300207(e)(2); and
       ``(4) to review certifications submitted by participating 
     counties under section 303(a) of the Secure Rural Schools and 
     Community Self-Determination Act of 2000 (16 U.S.C. 7143(a)).

     ``Sec. 300207. Establishment of Natural Resources Permanent 
       Fund

       ``(a) Establishment.--There is established within the 
     Corporation a permanent fund, to be known as the `Natural 
     Resources Permanent Fund', consisting of--
       ``(1) amounts deposited in the accounts under subsection 
     (b);
       ``(2) amounts deposited by an eligible county or State 
     under subsection (c)(1);
       ``(3) amounts credited to the Fund under subsection (d)(3); 
     and
       ``(4) amounts appropriated to the Fund under paragraph (1) 
     of subsection (i), subject to paragraph (2) of that 
     subsection.
       ``(b) Accounts.--Within the Fund, there are established the 
     following accounts:
       ``(1) The Forest Service Account, consisting of the amounts 
     transferred under section 71203(b)(2) of the Forest 
     Management for Rural Stability Act.
       ``(2) The Bureau of Land Management Account, consisting of 
     the amounts transferred under subsections (c)(2) and (d)(2) 
     of section 71203 of the Forest Management for Rural Stability 
     Act.
       ``(3) The United States Fish and Wildlife Service Account, 
     consisting of the amounts transferred under section 
     71203(e)(2) of the Forest Management for Rural Stability Act.
       ``(4) The Voluntary County Savings Account, consisting of 
     voluntary contributions of additional funds transferred under 
     subsection (c)(2)(A)(i).
       ``(c) Voluntary Contributions of Additional Funds.--
       ``(1) In general.--Subject to paragraph (2), the 
     Corporation may at any time accept from eligible counties and 
     States voluntary contributions of amounts to be deposited in 
     the Fund, for investment by the Corporation, in accordance 
     with this chapter.
       ``(2) Limitation.--Any amounts contributed under paragraph 
     (1)--
       ``(A) shall be--
       ``(i) transferred to the Voluntary County Savings Account; 
     and
       ``(ii) maintained within a segregated account in that 
     Account for each contributing county; and
       ``(B) may only be distributed to the eligible county or 
     State that deposited the amounts, in accordance with this 
     chapter and paragraph (3).
       ``(3) Distributions.--Distributions to an eligible county 
     or a State under paragraph (2)(B)--
       ``(A) shall be made by not later than 30 days after the 
     date of receipt of a written request of the applicable 
     eligible county or State;
       ``(B) shall not be subject to any restrictions or 
     limitations associated with distributions made from an 
     account established by paragraph (1), (2), or (3) of 
     subsection (b); and
       ``(C) may only be used for a governmental purpose that 
     complies with the budget laws of the applicable State.
       ``(d) Investments of Fund.--
       ``(1) Investment policy.--
       ``(A) In general.--Not later than 180 days after the date 
     of enactment of this chapter, the Board shall develop an 
     investment policy for the investment of amounts in the Fund.
       ``(B) Requirement.--For purposes of the investment policy 
     developed under subparagraph (A), the Corporation shall--
       ``(i) seek to achieve at least a 5-percent rate of return 
     on investments of the Fund, net of inflation; and
       ``(ii) adopt asset management strategies that are 
     consistent with the standard of care established under the 
     Uniform Prudent Management of Institutional Funds Act of 2007 
     (D.C. Code 44-1631 et seq.).
       ``(C) Periodic updates.--The Corporation shall--
       ``(i) not less frequently than annually, review the 
     investment policy developed under subparagraph (A); and
       ``(ii) based on a review conducted under clause (i), modify 
     the investment policy as the Corporation determines to be 
     appropriate.
       ``(2) Investment services.--For purposes of investing 
     amounts in the Fund, the Corporation may--
       ``(A) employ individuals at the Corporation to provide 
     investment management services; or
       ``(B) retain the services of investment management services 
     providers.
       ``(3) Income.--Income from any investments of amounts from 
     an account within the Fund shall be credited to the 
     applicable account within the Fund.
       ``(e) Expenditures From Fund.--
       ``(1) Availability of funds.--Beginning in fiscal year 
     2024, for each fiscal year, the Corporation shall make 
     available for distribution in accordance with this subsection 
     4.5 percent of amounts in each account within the Fund 
     established by paragraph (1), (2), or (3) of subsection (b), 
     as determined by the Corporation, based on--
       ``(A) for fiscal years 2024, 2025, and 2026, the average 
     fiscal year-end balance of the applicable account; and
       ``(B) thereafter, the average fiscal year-end balance of 
     the applicable account during the 3-year period preceding the 
     date of the determination.
       ``(2) Distributions.--
       ``(A) Forest service account and bureau of land management 
     account.--
       ``(i) In general.--Beginning in fiscal year 2024, for each 
     fiscal year, of the amounts in each of the Forest Service and 
     the Bureau of Land Management Accounts within the Fund 
     available for distribution for the fiscal year, as determined 
     under paragraph (1)--

       ``(I) 85 percent shall be used to make payments to eligible 
     States and eligible counties in accordance with title I of 
     the Secure Rural Schools and Community Self-Determination Act 
     of 2000 (16 U.S.C. 7111 et seq.) and clause (ii); and
       ``(II) 15 percent shall be used to make payments to 
     eligible States and eligible counties in accordance with 
     title III of the Secure Rural Schools and Community Self-
     Determination Act of 2000 (16 U.S.C. 7141 et seq.).

       ``(ii) Calculation and distribution of authorized 
     payments.--

       ``(I) Availability.--Not later than 14 days after the 
     beginning of each fiscal year, the Corporation shall submit 
     to the Secretary concerned a description of the amount 
     available in each of the Forest Service and the Bureau of 
     Land Management Accounts within the Fund available to make 
     payments for the fiscal year, as determined under paragraph 
     (1), to--

       ``(aa) eligible States under subsection (a) of section 101 
     of the Secure Rural Schools and Community Self-Determination 
     Act of 2000 (16 U.S.C. 7111), with respect to the Forest 
     Service Account; and
       ``(bb) eligible counties under subsection (b) of that 
     section, with respect to the Bureau of Land Management 
     Account.

       ``(II) Calculation.--Not later than 14 days after the date 
     on which the Corporation submits the information under 
     subclause (I), based on the information provided under that 
     subclause and the amounts otherwise available to the 
     Secretary concerned for the fiscal year to make payments to 
     eligible counties under the Secure Rural Schools and 
     Community Self-Determination Act of 2000 (16 U.S.C. 7101 et 
     seq.), as determined by the Secretary concerned, the 
     Secretary concerned shall, based on the formulas for 
     authorized payments established under that Act, calculate and 
     submit to the Corporation the authorized payment amount for 
     each eligible county, including--

       ``(aa) the amount of the authorized payment for each 
     eligible county to be paid from the applicable account in the 
     Fund; and
       ``(bb) the amount of the authorized payment to be paid for 
     each eligible county using amounts made available under 
     section 402 of the Secure Rural Schools and Community Self-
     Determination Act of 2000 (16 U.S.C. 7152).

       ``(III) Distribution.--Subject to subparagraphs (C) and 
     (D), not later than 40 days after the date on which the 
     Secretary concerned submits the information to the 
     Corporation under subclause (II)--

       ``(aa) the Corporation shall--
       ``(AA) distribute from the Forest Service Account within 
     the Fund to States, for redistribution to the eligible 
     counties, the amount of the authorized payment to be paid to 
     eligible counties within the State under section 101(a) of 
     the Secure Rural Schools and Community Self-Determination Act 
     of 2000 (16 U.S.C. 7111(a)), as determined under subclause 
     (II)(aa), to be used for the purposes authorized under title 
     I or III of that Act (16 U.S.C. 7111 et seq.);
       ``(BB) distribute from the Bureau of Land Management 
     Account within the Fund to the eligible counties the amount 
     of the authorized payment to be paid to eligible counties 
     under section 101(b) of the Secure Rural

[[Page S5856]]

     Schools and Community Self-Determination Act of 2000 (16 
     U.S.C. 7111(b)), as determined under subclause (II)(aa), to 
     be used for the purposes authorized under title I or III of 
     that Act (16 U.S.C. 7111 et seq.); and
       ``(CC) submit to the Secretary concerned a description of 
     the amounts distributed under subitems (AA) and (BB); and
       ``(bb) except as provided in subparagraph (C)(ii)(II), the 
     Secretary concerned shall pay to eligible counties, and to 
     the State for redistribution to eligible counties, the amount 
     of the authorized payments under subclause (II)(bb).
       ``(B) United states fish and wildlife service account.--
       ``(i) In general.--Beginning in fiscal year 2024, for each 
     fiscal year, amounts in the United States Fish and Wildlife 
     Service Account within the Fund available for distribution 
     for the fiscal year, as determined under paragraph (1), shall 
     be used to make payments to eligible counties, in accordance 
     with section 401(c) of the Act of June 15, 1935 (commonly 
     known as the `Refuge Revenue Sharing Act') (49 Stat. 383, 
     chapter 261; 16 U.S.C. 715s(c)) and clause (ii).
       ``(ii) Calculation and distribution of authorized 
     payments.--

       ``(I) Availability.--Not later than 14 days after the 
     beginning of each fiscal year, the Corporation shall submit 
     to the Secretary concerned a description of the amount 
     available in United States Fish and Wildlife Service Account 
     within the Fund available to make authorized payments to 
     eligible counties for the fiscal year under section 401(c) of 
     the Act of June 15, 1935 (commonly known as the `Refuge 
     Revenue Sharing Act') (49 Stat. 383, chapter 261; 16 U.S.C. 
     715s(c)), as determined under paragraph (1).
       ``(II) Calculation.--Not later than 14 days after the date 
     on which the Corporation submits the information under 
     subclause (I), based on the information provided under that 
     subclause and the amounts otherwise available to the 
     Secretary concerned for the fiscal year to make payments to 
     eligible counties under section 401(c) of the Act of June 15, 
     1935 (commonly known as the `Refuge Revenue Sharing Act') (49 
     Stat. 383, chapter 261; 16 U.S.C. 715s(c)), as determined by 
     the Secretary concerned, the Secretary concerned shall, based 
     on the formulas for authorized payments established under 
     that Act, calculate and submit to the Corporation the 
     authorized payment amount for each eligible county, 
     including--

       ``(aa) the amount of the authorized payment for each 
     eligible county to be paid from the United States Fish and 
     Wildlife Service Account within the Fund; and
       ``(bb) the amount of the authorized payment to be paid for 
     each eligible county using amounts made available under 
     section 401(c) of the Act of June 15, 1935 (commonly known as 
     the `Refuge Revenue Sharing Act') (49 Stat. 383, chapter 261; 
     16 U.S.C. 715s(c)).

       ``(III) Distribution.--Subject to subparagraphs (C) and 
     (D), not later than 40 days after the date on which the 
     Secretary concerned submits the information to the 
     Corporation under subclause (II)--

       ``(aa) the Corporation shall--
       ``(AA) distribute from the United States Fish and Wildlife 
     Service Account within the Fund to the eligible counties the 
     amount of the authorized payment to be paid from that Account 
     to eligible counties, as determined under subclause (II)(aa), 
     to be used for the purposes authorized under section 
     401(c)(5)(C) of the Act of June 15, 1935 (commonly known as 
     the `Refuge Revenue Sharing Act') (49 Stat. 383, chapter 261; 
     16 U.S.C. 715s(c)(5)(C)); and
       ``(BB) submit to the Secretary concerned a description of 
     the amounts distributed under subitem (AA); and
       ``(bb) except as provided in subparagraph (C)(ii)(II), the 
     Secretary concerned shall pay to the eligible counties the 
     amount to be paid for eligible counties under subclause 
     (II)(bb).
       ``(C) Minimum payment amount.--
       ``(i) In general.--Notwithstanding subparagraphs (A) and 
     (B), the minimum amount of a payment to be distributed to a 
     State or eligible county under subitem (AA) or (BB) of 
     subparagraph (A)(ii)(III)(aa) or subparagraph 
     (B)(ii)(III)(aa)(AA) for a fiscal year shall be the amount of 
     the payment authorized to be made to the State or eligible 
     county for fiscal year 2017 under the Secure Rural Schools 
     and Community Self-Determination Act of 2000 (16 U.S.C. 7101 
     et seq.) or section 401(c) of the Act of June 15, 1935 
     (commonly known as the `Refuge Revenue Sharing Act') (49 
     Stat. 383, chapter 261; 16 U.S.C. 715s(c)), as applicable (as 
     adjusted to reflect changes during the period beginning on 
     October 1, 2017, in the Consumer Price Index for All Urban 
     Consumers published by the Bureau of Labor Statistics of the 
     Department of Labor).
       ``(ii) Obligation of secretary.--The Secretary concerned--

       ``(I) shall only make a payment to a State or eligible 
     county under subparagraph (A)(ii)(III)(bb) or 
     (B)(ii)(III)(bb) for a fiscal year if the Secretary concerned 
     determines that the amount of the payment to be distributed 
     from the Fund to the State or eligible county under subitem 
     (AA) or (BB) of subparagraph (A)(ii)(III)(aa) or subparagraph 
     (B)(ii)(III)(aa)(AA) is less than the minimum payment amount 
     required under clause (i); and
       ``(II) if the Secretary concerned determines that the 
     amount of a payment to be distributed to a State or eligible 
     county under subitem (AA) or (BB) of subparagraph 
     (A)(ii)(III)(aa) or subparagraph (B)(ii)(III)(aa)(AA) would 
     exceed the minimum payment amount required under clause (i), 
     shall not make the payment otherwise required under 
     subparagraph (A)(ii)(III)(bb) or (B)(ii)(III)(bb), as 
     applicable, for the fiscal year.

       ``(D) Maximum payment amount.--
       ``(i) In general.--Notwithstanding subparagraphs (A) and 
     (B), in any case in which the total amount of payments to be 
     distributed by the Corporation to States or eligible 
     counties, as applicable, from an account within the Fund for 
     a fiscal year, as calculated under subparagraph 
     (A)(ii)(II)(aa) or (B)(ii)(II)(aa), as applicable, would 
     exceed the applicable highest historic payment, the 
     Corporation shall reduce the total amount to be distributed 
     under subitem (AA) or (BB) of subparagraph (A)(ii)(III)(aa) 
     or subparagraph (B)(ii)(III)(aa)(AA), as applicable, to the 
     amount of the applicable highest historic payment.
       ``(ii) Effect of meeting maximum.--For any fiscal year for 
     which amounts in the Fund are sufficient to ensure that each 
     State and eligible county receives from an account within the 
     Fund for a fiscal year, as calculated under subparagraph 
     (A)(ii)(II)(aa) or (B)(ii)(II)(aa), as applicable, 
     distributions equal to the applicable highest historic 
     payment, such that the distributions from the account are 
     reduced under clause (i), the States and eligible counties 
     shall receive, in addition to those payments from the Fund, 
     any payments authorized for the State or eligible county 
     under--

       ``(I) the sixth paragraph under the heading `forest 
     service' in the Act of May 23, 1908 (35 Stat. 260, chapter 
     192; 16 U.S.C. 500), and section 13 of the Act of March 1, 
     1911 (commonly known as the `Weeks Law') (36 Stat. 963, 
     chapter 186; 16 U.S.C. 500);
       ``(II) subsection (a) of title II of the Act of August 28, 
     1937 (50 Stat. 875, chapter 876; 43 U.S.C. 2605);
       ``(III) the first section of the Act of May 24, 1939 (53 
     Stat. 753, chapter 144; 43 U.S.C. 2621); or
       ``(IV) section 401(c) of the Act of June 15, 1935 (commonly 
     known as the `Refuge Revenue Sharing Act') (49 Stat. 383, 
     chapter 261; 16 U.S.C. 715s(c)).

       ``(3) Administrative expenses.--
       ``(A) In general.--Beginning in fiscal year 2024, for each 
     fiscal year, of the total amounts in the Fund, there shall be 
     made available to the Corporation from the Fund for the 
     payment of administrative expenses described in subparagraph 
     (B)--
       ``(i) if the total amounts in the Fund as of the date of 
     the determination is not less than $100,000,000, an amount 
     equal to the lesser of--

       ``(I) an amount equal to not more than 0.5 percent of the 
     total amounts in the Fund, as of that date; and
       ``(II) $30,000,000 (as adjusted to reflect changes during 
     the period beginning on October 1, 2021, in the Consumer 
     Price Index for All Urban Consumers published by the Bureau 
     of Labor Statistics of the Department of Labor); and

       ``(ii) if the total amounts in the Fund as of the date of 
     the determination is less than $100,000,000, an amount equal 
     to not more than 1.0 percent of the total amounts in the 
     Fund, as of that date.
       ``(B) Use.--Amounts made available for administrative 
     expenses under subparagraph (A) may be used by the 
     Corporation--
       ``(i) to ensure that amounts in Fund are managed in a 
     manner consistent with the asset management strategies 
     adopted under subsection (d)(1);
       ``(ii) to pay other administrative costs relating to the 
     Fund, including the costs of managing the Fund, conducting 
     audits of the Fund, and complying with reporting requirements 
     relating to the Fund; and
       ``(iii) to reimburse members of the Board for actual and 
     necessary traveling and subsistence expenses, in accordance 
     with section 300204(h).
       ``(4) Elections to opt out and opt in.--
       ``(A) Opting out.--
       ``(i) In general.--Not later than October 1, 2026, a county 
     described in clause (i) or (ii) of section 300201(6)(A) may 
     make a 1-time election to opt out of distributions from the 
     Fund under this chapter by submitting to the Secretary 
     concerned a written notice of the election.
       ``(ii) Effect.--Subject to subparagraph (B), an election 
     under clause (i) to opt out of distributions from the Fund 
     shall be applicable for--

       ``(I) the fiscal year during which the notice under that 
     clause is submitted; and
       ``(II) each subsequent fiscal year.

       ``(iii) No effect on other payments.--An election by a 
     county to opt out of distributions from the Fund under clause 
     (i) shall not affect the eligibility of the county to receive 
     any payment authorized for the county under--

       ``(I) the sixth paragraph under the heading `forest 
     service' in the Act of May 23, 1908 (35 Stat. 260, chapter 
     192; 16 U.S.C. 500), and section 13 of the Act of March 1, 
     1911 (commonly known as the `Weeks Law') (36 Stat. 963, 
     chapter 186; 16 U.S.C. 500);
       ``(II) subsection (a) of title II of the Act of August 28, 
     1937 (50 Stat. 875, chapter 876; 43 U.S.C. 2605);
       ``(III) the first section of the Act of May 24, 1939 (53 
     Stat. 753, chapter 144; 43 U.S.C. 2621); or

[[Page S5857]]

       ``(IV) section 401(c) of the Act of June 15, 1935 (commonly 
     known as the `Refuge Revenue Sharing Act') (49 Stat. 383, 
     chapter 261; 16 U.S.C. 715s(c)).

       ``(iv) Treatment.--A county described in clause (i) or (ii) 
     of section 300201(6)(A) that has not submitted to the 
     Secretary concerned a written notice of an election to opt 
     out of distributions from the Fund under clause (i) shall be 
     deemed to have opted in to those distributions.
       ``(B) Notice to opt in.--A county that has elected to opt 
     out of distributions from the Fund under subparagraph (A) may 
     opt back in to the distributions for all subsequent fiscal 
     years by submitting to the Secretary concerned, by not later 
     than the date that is 2 years after the date on which the 
     county submits the written notice under subparagraph (A)(i), 
     a notice of the intent of the county to opt back in.
       ``(f) Reports.--
       ``(1) Quarterly reports.--Not later than 90 days after the 
     date of enactment of this chapter and every 90 days 
     thereafter, the Corporation shall submit to the Secretary of 
     the Treasury a quarterly report that describes, with full 
     transparency, for the period covered by report--
       ``(A) the assets of the Fund, including a description of 
     the investment policy used for the Fund; and
       ``(B) the performance of investments in the Fund.
       ``(2) Annual report.--Annually, the Corporation shall 
     submit to the Committee on Finance of the Senate and the 
     Committee on Ways and Means of the House of Representatives, 
     and make publically available in an online searchable 
     database in a machine-readable format, a report describing 
     the activities of the Corporation for the period covered by 
     the report, including, at a minimum, information relating 
     to--
       ``(A) the growth of the Fund; and
       ``(B) applicable sources of revenue.
       ``(g) Annual Audits.--Not later than 1 year after the date 
     of enactment of this chapter and annually thereafter, the 
     Inspector General of the Department of the Treasury shall 
     conduct an audit of the Fund.
       ``(h) Oversight.--The Inspector General of the Department 
     of the Treasury shall conduct periodic reviews of the 
     exercise by the Corporation of the fiduciary and statutory 
     duties of the Corporation.
       ``(i) Funding.--
       ``(1) In general.--Beginning in fiscal year 2022, out of 
     any funds in the Treasury not otherwise appropriated, the 
     Secretary of the Treasury shall transfer to the Fund 110 
     percent of such sums as are necessary to ensure that the 
     required minimum payment amounts under subsection 
     (e)(2)(C)(i) can be provided.
       ``(2) Allocation among accounts.--The amounts appropriated 
     to the Fund under paragraph (1) shall be allocated among the 
     Forest Service Account, the Bureau of Land Management 
     Account, and the United States Fish and Wildlife Service 
     Account in a manner that ensures that--
       ``(A) the amount allocated to the Forest Service Account is 
     determined in accordance with the ratio that--
       ``(i) the total amount of State payments under the Secure 
     Rural Schools and Community Self-Determination Act of 2000 
     (16 U.S.C. 7101 et seq.) for fiscal year 2017; bears to
       ``(ii) an amount equal to the sum of--

       ``(I) the full funding amount for the Secure Rural Schools 
     and Community Self-Determination Act of 2000 (16 U.S.C. 7101 
     et seq.) for fiscal year 2017; and
       ``(II) the total amount of payments to counties under 
     section 401(c) of the Act of June 15, 1935 (commonly known as 
     the `Refuge Revenue Sharing Act') (49 Stat. 383, chapter 261; 
     16 U.S.C. 715s(c)), for fiscal year 2017;

       ``(B) the amount allocated to the Bureau of Land Management 
     Account is determined in accordance with the ratio that--
       ``(i) the total amount of county payments under the Secure 
     Rural Schools and Community Self-Determination Act of 2000 
     (16 U.S.C. 7101 et seq.) for fiscal year 2017; bears to
       ``(ii) an amount equal to the sum of--

       ``(I) the full funding amount for the Secure Rural Schools 
     and Community Self-Determination Act of 2000 (16 U.S.C. 7101 
     et seq.) for fiscal year 2017; and
       ``(II) the total amount of payments to counties under 
     section 401(c) of the Act of June 15, 1935 (commonly known as 
     the `Refuge Revenue Sharing Act') (49 Stat. 383, chapter 261; 
     16 U.S.C. 715s(c)), for fiscal year 2017; and

       ``(C) the amount allocated to the United States Fish and 
     Wildlife Service Account is determined in accordance with the 
     ratio that--
       ``(i) the total amount of payments to counties under 
     section 401(c) of the Act of June 15, 1935 (commonly known as 
     the `Refuge Revenue Sharing Act') (49 Stat. 383, chapter 261; 
     16 U.S.C. 715s(c)) for fiscal year 2017; bears to
       ``(ii) an amount equal to the sum of--

       ``(I) the full funding amount for the Secure Rural Schools 
     and Community Self-Determination Act of 2000 (16 U.S.C. 7101 
     et seq.) for fiscal year 2017; and
       ``(II) the total amount of payments to counties under 
     section 401(c) of the Act of June 15, 1935 (commonly known as 
     the `Refuge Revenue Sharing Act') (49 Stat. 383, chapter 261; 
     16 U.S.C. 715s(c)), for fiscal year 2017.

       ``(j) Agency Reporting.--
       ``(1) In general.--Not later than 1 year after the date of 
     enactment of this chapter and annually thereafter, the 
     Secretary of Agriculture and the Secretary of the Interior 
     shall submit to the Corporation information describing 
     activities on Federal land described in subparagraphs (A) and 
     (B), respectively, of section 3(7) of the Secure Rural 
     Schools and Community Self-Determination Act of 2000 (16 
     U.S.C. 7102(7)), on a county-by-county basis, for the period 
     covered by the report, including information regarding--
       ``(A) timber sales and associated acres treated, volumes 
     sold and harvested, and revenues generated, including, at a 
     minimum--
       ``(i) commercial treatment; and
       ``(ii) precommercial thinning;
       ``(B) stewardship projects, including, at a minimum--
       ``(i) commercial treatment;
       ``(ii) prescribed fire; and
       ``(iii) precommercial thinning;
       ``(C) road work;
       ``(D) reforestation and associated acres treated, 
     including, at a minimum--
       ``(i) commercial treatment;
       ``(ii) prescribed fire; and
       ``(iii) precommercial thinning;
       ``(E) habitat created;
       ``(F) culverts replaced; and
       ``(G) miles of stream restoration.
       ``(2) Publication.--Promptly after receipt of the 
     information under paragraph (1), the Corporation shall make 
     the information publically available in an online searchable 
     database in a machine-readable format.''.
       (b) Clerical Amendment.--The table of chapters for subtitle 
     III of title 36, United States Code, is amended by inserting 
     after the item relating to chapter 3001 the following:

``3002. Forest and Refuge County Foundation 300201''...................

     SEC. 71203. TRANSFER OF AMOUNTS TO FUND.

       (a) Definition of Eligible Nonelecting County.--In this 
     section, the term ``eligible nonelecting county'' means--
       (1) in subsections (b), (c), and (d), a county that--
       (A) is eligible for a payment under the Secure Rural 
     Schools and Community Self-Determination Act of 2000 (16 
     U.S.C. 7101 et seq.); and
       (B) has not elected to opt out of distributions from the 
     Natural Resources Permanent Fund under section 
     300207(e)(4)(A) of title 36, United States Code; and
       (2) in subsection (e), a county that--
       (A) is eligible for a payment under section 401(c) of the 
     Act of June 15, 1935 (commonly known as the ``Refuge Revenue 
     Sharing Act'') (49 Stat. 383, chapter 261; 16 U.S.C. 
     715s(c)); and
       (B) has not elected to opt out of distributions from the 
     Natural Resources Permanent Fund under section 
     300207(e)(4)(A) of title 36, United States Code.
       (b) Suspension of Payments Under Act of May 23, 1908, and 
     Act of March 1, 1911.--Except as provided in section 
     300207(e)(2)(D)(ii) of title 36, United States Code, for 
     fiscal year 2024 and each fiscal year thereafter--
       (1) all payments authorized for eligible nonelecting 
     counties under the sixth paragraph under the heading ``forest 
     service'' in the Act of May 23, 1908 (35 Stat. 260, chapter 
     192; 16 U.S.C. 500), and section 13 of the Act of March 1, 
     1911 (commonly known as the ``Weeks Law'') (36 Stat. 963, 
     chapter 186; 16 U.S.C. 500), shall be suspended; and
       (2) the Secretary of the Treasury shall transfer to the 
     Forest Service Account within the Natural Resources Permanent 
     Fund established by section 300207(b)(1) of title 36, United 
     States Code, amounts equal to the amounts that would have 
     otherwise been distributed as payments to eligible 
     nonelecting counties under the sixth paragraph under the 
     heading ``forest service'' in the Act of May 23, 1908 (35 
     Stat. 260, chapter 192; 16 U.S.C. 500), and section 13 of the 
     Act of March 1, 1911 (commonly known as the ``Weeks Law'') 
     (36 Stat. 963, chapter 186; 16 U.S.C. 500).
       (c) Suspension of Payments Under Act of August 28, 1937.--
     Except as provided in section 300207(e)(2)(D)(ii) of title 
     36, United States Code, for fiscal year 2024 and each fiscal 
     year thereafter--
       (1) all payments authorized for eligible nonelecting 
     counties under subsection (a) of title II of the Act of 
     August 28, 1937 (50 Stat. 875, chapter 876; 43 U.S.C. 2605), 
     shall be suspended; and
       (2) the Secretary of the Treasury shall transfer to the 
     Bureau of Land Management Account within the Natural 
     Resources Permanent Fund established by section 300207(b)(2) 
     of title 36, United States Code, amounts equal to the amounts 
     that would have otherwise been distributed as payments to 
     eligible nonelecting counties under subsection (a) of title 
     II of the Act of August 28, 1937 (50 Stat. 875, chapter 876; 
     43 U.S.C. 2605).
       (d) Suspension of Payments Under Act of May 24, 1939.--
     Except as provided in section 300207(e)(2)(D)(ii) of title 
     36, United States Code, for fiscal year 2024 and each fiscal 
     year thereafter--
       (1) all payments authorized for eligible nonelecting 
     counties under the first section of the Act of May 24, 1939 
     (53 Stat. 753, chapter 144; 43 U.S.C. 2621), shall be 
     suspended; and
       (2) the Secretary of the Treasury shall transfer to the 
     Bureau of Land Management Account within the Natural 
     Resources Permanent Fund established by section 300207(b)(2) 
     of title 36, United States Code, amounts equal to the amounts 
     that would have otherwise been distributed as payments to 
     eligible nonelecting counties under the

[[Page S5858]]

     first section of the Act of May 24, 1939 (53 Stat. 753, 
     chapter 144; 43 U.S.C. 2621).
       (e) Suspension of Payments Under Refuge Revenue Sharing 
     Act.--Except as provided in section 300207(e)(2)(D)(ii) of 
     title 36, United States Code, for fiscal year 2024 and each 
     fiscal year thereafter--
       (1) all payments authorized for eligible nonelecting 
     counties under section 401(c) of the Act of June 15, 1935 
     (commonly known as the ``Refuge Revenue Sharing Act'') (49 
     Stat. 383, chapter 261; 16 U.S.C. 715s(c)), shall be 
     suspended; and
       (2) the Secretary of the Treasury shall transfer to the 
     United States Fish and Wildlife Service Account within the 
     Natural Resources Permanent Fund established by section 
     300207(b)(3) of title 36, United States Code, amounts equal 
     to the amounts that would have otherwise been distributed as 
     payments to eligible nonelecting counties under section 
     401(c) of the Act of June 15, 1935 (commonly known as the 
     ``Refuge Revenue Sharing Act'') (49 Stat. 383, chapter 261; 
     16 U.S.C. 715s(c)).

     SEC. 71204. AMENDMENTS TO SECURE RURAL SCHOOLS AND COMMUNITY 
                   SELF-DETERMINATION ACT OF 2000.

       (a) Definitions.--Section 3 of the Secure Rural Schools and 
     Community Self-Determination Act of 2000 (16 U.S.C. 7102) is 
     amended--
       (1) in paragraph (1)(B), by striking ``and paragraph 
     (8)(A)'';
       (2) in paragraph (2)--
       (A) in subparagraph (A)(ii)--
       (i) by inserting ``of'' before ``acres''; and
       (ii) by inserting ``described in paragraph (7)(A)'' after 
     ``Federal land''; and
       (B) in subparagraph (B)(ii), by striking ``and paragraph 
     (9)(B)(i)'';
       (3) in paragraph (4)--
       (A) in subparagraph (A), by striking ``and'' at the end;
       (B) in subparagraph (B), by striking the period at the end 
     and inserting ``; and''; and
       (C) by adding at the end the following:
       ``(C) has not elected to opt out of distributions from the 
     Natural Resources Permanent Fund under section 
     300207(e)(4)(A) of title 36, United States Code.'';
       (4) by striking paragraphs (8) and (9) and inserting the 
     following:
       ``(8) 50-percent adjusted share.--The term `50-percent 
     adjusted share' means the quotient obtained by dividing--
       ``(A) the number equal to the total of all 50-percent 
     payments received by an eligible county during the 
     eligibility period; by
       ``(B) the number equal to the sum of all 50-percent 
     payments received by all eligible counties during the 
     eligibility period.'';
       (5) in paragraph (11) (as amended by section 41202(a))--
       (A) in subparagraph (E), by striking ``and'' at the end;
       (B) in subparagraph (F)--
       (i) by striking ``fiscal year 2021 and each fiscal year 
     thereafter'' and inserting ``each of fiscal years 2021 
     through 2023''; and
       (ii) by striking the period at the end and inserting ``; 
     and''; and
       (iii) by adding at the end the following:
       ``(G) for fiscal year 2024 and each fiscal year 
     thereafter--
       ``(i) for purposes of the calculations under section 
     101(a), an amount equal to the greater of--

       ``(I) the amount distributed from the Forest Service 
     Account within the Natural Resources Permanent Fund under 
     section 300207(e)(2)(A) of title 36, United States Code; and
       ``(II) the total amount of all State payments for fiscal 
     year 2017 (as adjusted to reflect changes during the period 
     beginning on October 1, 2017, in the Consumer Price Index for 
     All Urban Consumers published by the Bureau of Labor 
     Statistics of the Department of Labor); and

       ``(ii) for purposes of the calculations under section 
     101(b), an amount equal to the greater of--

       ``(I) the amount distributed from the Bureau of Land 
     Management Account within the Natural Resources Permanent 
     Fund under section 300207(e)(2)(A) of title 36, United States 
     Code; and
       ``(II) the total amount of all county payments for fiscal 
     year 2017 (as adjusted to reflect changes during the period 
     beginning on October 1, 2017, in the Consumer Price Index for 
     All Urban Consumers published by the Bureau of Labor 
     Statistics of the Department of Labor).'';

       (6) in paragraph (12)--
       (A) in subparagraph (A), by inserting ``containing Federal 
     land described in paragraph (7)(A)'' after ``eligible 
     county''; and
       (B) in subparagraph (B), by inserting ``containing Federal 
     land described in paragraph (7)(A)'' after ``eligible 
     counties''; and
       (7) by redesignating paragraphs (10) through (17) as 
     paragraphs (9) through (16), respectively.
       (b) Permanent Authorization; Source of Payment Amounts.--
       (1) Calculation of payments.--Section 101 of the Secure 
     Rural Schools and Community Self-Determination Act of 2000 
     (16 U.S.C. 7111) (as amended by section 41202(b)(1)) is 
     amended--
       (A) in subsection (a), in the matter preceding paragraph 
     (1), by striking ``of fiscal years'' and all that follows 
     through ``the Secretary of Agriculture'' and inserting 
     ``fiscal year, the Secretary of Agriculture''; and
       (B) in subsection (b), in the matter preceding paragraph 
     (1), by striking ``of fiscal years'' and all that follows 
     through ``the Secretary of the Interior'' and inserting 
     ``fiscal year, the Secretary of the Interior''.
       (2) Elections.--Section 102(b) of the Secure Rural Schools 
     and Community Self-Determination Act of 2000 (16 U.S.C. 
     7112(b)) is amended--
       (A) in paragraph (1)--
       (i) in subparagraph (A), by inserting ``through fiscal year 
     2023'' after ``second fiscal year thereafter''; and
       (ii) by adding at the end the following:
       ``(E) Fiscal year 2024 and thereafter.--For fiscal year 
     2024 and each fiscal year thereafter--
       ``(i) the election otherwise required by subparagraph (A) 
     shall not apply; and
       ``(ii) each affected county shall receive payments in 
     accordance with chapter 3002 of title 36, United States Code, 
     unless the affected county elects to opt out of distributions 
     under section 300207(e)(4)(A) of that title.'';
       (B) in paragraph (2)(B), by striking ``through fiscal year 
     2015 and for each of fiscal years 2017 through 2020''; and
       (C) by striking paragraph (3) and inserting the following:
       ``(3) Source of payment amounts.--
       ``(A) In general.--With respect to an eligible State or 
     eligible county that has not elected to opt out of 
     distributions under section 300207(e)(4)(A) of title 36, 
     United States Code, the payment under this section for a 
     fiscal year shall be derived from--
       ``(i) distributions to be paid under section 
     300207(e)(2)(A)(ii)(III)(aa) of title 36, United States Code; 
     and
       ``(ii) to the extent that amounts made available under 
     clause (i) are insufficient, any amounts that are 
     appropriated to carry out this Act, to be distributed in 
     accordance with section 300207(e)(2)(A)(ii)(III)(bb) of title 
     36, United States Code.
       ``(B) Exception.--An eligible State or eligible county that 
     has elected to opt out of distributions under section 
     300207(e)(4)(A) of title 36, United States Code--
       ``(i) shall not receive any payment under this section; and
       ``(ii) may receive payments only under, as applicable--

       ``(I) the sixth paragraph under the heading `forest 
     service' in the Act of May 23, 1908 (35 Stat. 260, chapter 
     192; 16 U.S.C. 500), and section 13 of the Act of March 1, 
     1911 (commonly known as the `Weeks Law') (36 Stat. 963, 
     chapter 186; 16 U.S.C. 500);
       ``(II) subsection (a) of title II of the Act of August 28, 
     1937 (50 Stat. 875, chapter 876; 43 U.S.C. 2605); and
       ``(III) the first section of the Act of May 24, 1939 (53 
     Stat. 753, chapter 144; 43 U.S.C. 2621).''.

       (3) Notification of election.--Section 102(d)(1) of the 
     Secure Rural Schools and Community Self-Determination Act of 
     2000 (16 U.S.C. 7112(d)(1)) is amended--
       (A) in subparagraph (A), by striking ``subparagraph (D)'' 
     and inserting ``subparagraphs (D) and (G)''; and
       (B) by adding at the end the following:
       ``(G) Fiscal year 2024 and thereafter.--For fiscal year 
     2024 and each fiscal year thereafter--
       ``(i) the allocation of funds required under subparagraph 
     (A) shall not be required;
       ``(ii) of the amounts received for the fiscal year--

       ``(I) 85 percent shall be expended in the same manner in 
     which the 25-percent payments or 50-percent payments, as 
     applicable, are required to be expended; and
       ``(II) 15 percent shall be expended on county projects in 
     accordance with title III; and

       ``(iii) the elections otherwise required by subparagraphs 
     (B), (C), and (D), or considered to be made under paragraph 
     (3)(B), as applicable, shall not apply or be required for 
     payments made for the fiscal year.''.
       (4) Distribution of payments to eligible counties.--Section 
     103(d)(2) of the Secure Rural Schools and Community Self-
     Determination Act of 2000 (16 U.S.C. 7113(d)(2)) (as amended 
     by section 41202(b)(2)) is amended--
       (A) by striking ``and for each'' and inserting ``, for 
     each''; and
       (B) by inserting ``, and for fiscal year 2024 and each 
     fiscal year thereafter'' before the period at the end.
       (5) Termination of authority.--Title III of the Secure 
     Rural Schools and Community Self-Determination Act of 2000 
     (16 U.S.C. 7141 et seq.) is amended by striking section 305 
     (as redesignated by section 41202(g)(1)).
       (c) Repeal of Authority to Conduct Special Projects on 
     Federal Land.--
       (1) In general.--Title II of the Secure Rural Schools and 
     Community Self-Determination Act of 2000 (16 U.S.C. 7121 et 
     seq.) is repealed.
       (2) Conforming amendments.--
       (A) Section 102(d) of the Secure Rural Schools and 
     Community Self-Determination Act of 2000 (16 U.S.C. 7112(d)) 
     is amended--
       (i) in paragraph (1)--

       (I) in subparagraph (B)--

       (aa) by striking clause (i);
       (bb) by redesignating clauses (ii) and (iii) as clauses (i) 
     and (ii), respectively; and
       (cc) in clause (ii) (as so redesignated), by striking 
     ``clauses (i) and (ii)'' and inserting ``clause (i)'';

       (II) in subparagraph (C)--

       (aa) by striking clause (i);
       (bb) by redesignating clauses (ii) and (iii) as clauses (i) 
     and (ii), respectively; and
       (cc) in clause (ii) (as so redesignated), by striking 
     ``clauses (i) and (ii)'' and inserting ``clause (i)''; and

       (III) in subparagraphs (E) and (F), by striking ``paragraph 
     (3)(B)'' each place it appears and inserting ``paragraph 
     (2)(B)'';

       (ii) by striking paragraph (2);

[[Page S5859]]

       (iii) by redesignating paragraph (3) as paragraph (2); and
       (iv) in subparagraph (B)(ii) of paragraph (2) (as so 
     redesignated), by inserting ``(as in effect on the day before 
     the date of enactment of the Forest Management for Rural 
     Stability Act)'' after ``204(a)(5)''.
       (B) Section 302(b) of the Secure Rural Schools and 
     Community Self-Determination Act of 2000 (16 U.S.C. 7142(b)) 
     is amended--
       (i) in paragraph (1), by striking ``; and'' at the end and 
     inserting a period;
       (ii) in the matter preceding paragraph (1), by striking 
     ``shall--'' and all that follows through ``publish'' in 
     paragraph (1) and inserting ``shall publish''; and
       (iii) by striking paragraph (2).
       (C) Title IV of the Secure Rural Schools and Community 
     Self-Determination Act of 2000 (16 U.S.C. 7151 et seq.) is 
     amended by striking section 403 (16 U.S.C. 7153) and 
     inserting the following:

     ``SEC. 403. TREATMENT OF FUNDS.

       ``Funds made available under section 402 shall be in 
     addition to any other annual appropriations for the Forest 
     Service and the Bureau of Land Management.''.
       (D) Section 603(b)(1)(C)(ii)(II) of the Healthy Forests 
     Restoration Act of 2003 (16 U.S.C. 6591b(b)(1)(C)(ii)(II)) is 
     amended by inserting ``(as in effect on the day before the 
     date of enactment of the Forest Management for Rural 
     Stability Act'') before the period at the end.
       (E) Section 4003(b)(2)(B)(ii) of the Omnibus Public Land 
     Management Act of 2009 (16 U.S.C. 7303(b)(2)(B)(ii)) is 
     amended by striking ``500 note)'' and inserting ``7125) (as 
     in effect on the day before the date of enactment of the 
     Forest Management for Rural Stability Act)''.
       (3) Effective date.--The amendments made by this subsection 
     are effective on October 1, 2024.
       (d) Use of Funds.--Section 302(a) of the Secure Rural 
     Schools and Community Self-Determination Act of 2000 (16 
     U.S.C. 7142(a)) (as amended by section 41202(e)) is amended--
       (1) in paragraph (2)(A), by striking ``on Federal land'';
       (2) in paragraph (4), by striking ``and'' at the end;
       (3) in paragraph (5)(B), by striking the period at the end 
     and inserting a semicolon; and
       (4) by adding at the end the following:
       ``(6) for job training or job creation activities;
       ``(7) for projects approved by--
       ``(A) a resource advisory committee (as defined in section 
     300201 of title 36, United States Code); or
       ``(B) a forest collaborative;
       ``(8) for natural resource conservation projects;
       ``(9) for forest health treatments;
       ``(10) for economic development activities;
       ``(11) for transportation infrastructure projects on county 
     road systems that serve Federal land;
       ``(12) to plan, develop, or carry out projects on Federal 
     land that--
       ``(A) are consistent with applicable Federal laws 
     (including regulations) and forest plans;
       ``(B) create private sector jobs, generate county revenue, 
     or provide merchantable forest products; and
       ``(C) may include--
       ``(i) forest health treatments;
       ``(ii) implementation of work under a Master Stewardship 
     Agreement;
       ``(iii) implementation of work under a good neighbor 
     agreement (as defined in section 8206(a) of the Agricultural 
     Act of 2014 (16 U.S.C. 2113a(a))); or
       ``(iv) forest road replacement, rehabilitation, or 
     reconstruction; or
       ``(13) to provide or expand access to--
       ``(A) broadband telecommunications services at local 
     schools; or
       ``(B) the technology and connectivity necessary for 
     students to use a digital learning tool at or outside of a 
     local school campus.''.
       (e) Certification.--Section 303 of the Secure Rural Schools 
     and Community Self-Determination Act of 2000 (16 U.S.C. 7143) 
     is amended--
       (1) in subsection (a), by striking ``February 1'' and all 
     that follows through ``Secretary concerned'' and inserting 
     ``February 1 of each calendar year beginning after a calendar 
     year during which not less than $35,000 of county funds were 
     expended by a participating county, the appropriate official 
     of the participating county shall submit to the Forest and 
     Refuge County Foundation established by section 300202 of 
     title 36, United States Code,''; and
       (2) in subsection (b)--
       (A) by striking ``Secretary concerned shall'' and inserting 
     ``Forest and Refuge County Foundation shall''; and
       (B) by striking ``Secretary concerned determines'' and 
     inserting ``Foundation determines''.
       (f) Funding.--Title IV of the Secure Rural Schools and 
     Community Self-Determination Act of 2000 (16 U.S.C. 7151 et 
     seq.) is amended by striking section 402 (16 U.S.C. 7152) and 
     inserting the following:

     ``SEC. 402. FUNDING.

       ``(a) In General.--On October 1 of each fiscal year, out of 
     any funds in the Treasury not otherwise appropriated, the 
     Secretary of the Treasury shall transfer to the Secretary 
     concerned such sums as are necessary to carry out this Act, 
     to remain available until expended.
       ``(b) Receipt and Acceptance.--The Secretary concerned 
     shall be entitled to receive, shall accept, and shall use to 
     carry out this section the funds transferred under subsection 
     (a), without further appropriation.''.

     SEC. 71205. TIMELINE FOR RESOURCE ADVISORY COMMITTEE 
                   EXPENDITURES.

       (a) Definitions.--In this section:
       (1) Participating county; project funds.--The terms 
     ``participating county'' and ``project funds'' have the 
     meanings given those terms in section 201 of the Secure Rural 
     Schools and Community Self-Determination Act of 2000 (16 
     U.S.C. 7121) (as in effect on the day before the date of 
     enactment of this Act).
       (2) Resource advisory committee.--The term ``resource 
     advisory committee'' means a resource advisory committee (as 
     defined in section 201 of the Secure Rural Schools and 
     Community Self-Determination Act of 2000 (16 U.S.C. 7121) (as 
     in effect on the day before the date of enactment of this 
     Act)).
       (3) Secretary concerned.--The term ``Secretary concerned'' 
     has the meaning given the term in section 3 of the Secure 
     Rural Schools and Community Self-Determination Act of 2000 
     (16 U.S.C. 7102).
       (b) Timeline.--Notwithstanding any other provision of law, 
     if a resource advisory committee has any unobligated project 
     funds available on the date described in section 207(a) of 
     the Secure Rural Schools and Community Self-Determination Act 
     of 2000 (16 U.S.C. 7127(a)) (as in effect on the day before 
     the date of enactment of this Act), those project funds--
       (1) shall remain available for obligation until the date 
     that is 2 years after the date on which the resource advisory 
     committee has a quorum; and
       (2) shall not be obligated except in accordance with a 
     project proposal that--
       (A) is submitted by the resource advisory committee to the 
     Secretary concerned in accordance with section 203 of that 
     Act (16 U.S.C. 7123) (as in effect on the day before the date 
     of enactment of this Act); and
       (B) is approved by the Secretary concerned in accordance 
     with section 204 of that Act (16 U.S.C. 7124) (as in effect 
     on the day before the date of enactment of this Act).
       (c) Return of Unobligated Funds.--Any project funds that 
     remain unobligated after the date that is 2 years after the 
     date on which the applicable resource advisory committee has 
     a quorum shall be returned to the Treasury of the United 
     States.

     SEC. 71206. FUNDING FOR REFUGE REVENUE SHARING ACT.

       (a) Source of Payments to Counties.--Section 401(c) of the 
     Act of June 15, 1935 (commonly known as the ``Refuge Revenue 
     Sharing Act'') (49 Stat. 383, chapter 261; 16 U.S.C. 
     715s(c)), is amended adding at the end the following:
       ``(6) Source of payments to counties.--Notwithstanding any 
     other provision of this section, for fiscal year 2024 and 
     each fiscal year thereafter, with respect to counties that 
     have not elected to opt out of distributions under section 
     300207(e)(4)(A) of title 36, United States Code, instead of 
     making the payments to the applicable counties required under 
     paragraphs (1) and (2) from the fund, the payments shall be 
     derived from--
       ``(A) distributions to be paid under section 
     300207(e)(2)(B)(ii)(III)(aa)(AA) of title 36, United States 
     Code; and
       ``(B) to the extent that amounts made available under 
     subparagraph (A) are insufficient, any amounts that are 
     appropriated under subsection (d), to be distributed in 
     accordance with section 300207(e)(2)(B)(ii)(III)(bb) of title 
     36, United States Code.''.
       (b) Funding.--Section 401 of the Act of June 15, 1935 
     (commonly known as the ``Refuge Revenue Sharing Act'') (49 
     Stat. 383, chapter 261; 16 U.S.C. 715s), is amended by 
     striking subsection (d) and inserting the following:
       ``(d) Funding for Payments.--
       ``(1) In general.--On October 1 of each fiscal year, out of 
     any funds in the Treasury not otherwise appropriated, the 
     Secretary of the Treasury shall transfer to the Secretary 
     such sums as are necessary to make payments under paragraphs 
     (1) and (2) of subsection (c) to counties, after taking into 
     account--
       ``(A) amounts in the fund available for the payments for 
     the fiscal year; and
       ``(B) amounts made available for payments from the National 
     Resources Permanent Fund established by section 300207(a) of 
     title 36, United States Code, for the fiscal year.
       ``(2) Receipt and acceptance.--The Secretary shall be 
     entitled to receive, shall accept, and shall use to carry out 
     this section the funds transferred under paragraph (1), 
     without further appropriation.''.

     SEC. 71207. EXEMPTION OF CERTAIN PAYMENTS FROM SEQUESTRATION.

       (a) In General.--Section 255(g)(1)(A) of the Balanced 
     Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 
     905(g)(1)(A)) is amended by inserting after ``Payments to 
     Social Security Trust Funds (28-0404-0-1-651).'' the 
     following:
       ``Payments to States and eligible counties from the 
     National Resources Permanent Fund established by section 
     300207(a) of title 36, United States Code.''.
       (b) Applicability.--The amendment made by this section 
     shall apply to any sequestration order issued under the 
     Balanced Budget and Emergency Deficit Control Act of 1985 (2 
     U.S.C. 900 et seq.) on or after the date of enactment of this 
     Act.

[[Page S5860]]

  


     SEC. 71208. CALCULATION OF CERTAIN PAYMENTS UNDER THE 
                   PAYMENTS IN LIEU OF TAXES PROGRAM.

       Section 6903(b) of title 31, United States Code, is amended 
     by adding at the end the following:
       ``(3) For purposes of calculating payments under this 
     subsection, a payment to a unit of general local government 
     from the Natural Resources Permanent Fund established by 
     section 300207(a) of title 36 shall be treated as follows:
       ``(A) Payments from the Forest Service Account established 
     under section 300207(b)(1) of title 36 shall be treated as 
     payments made pursuant to the sixth paragraph under the 
     heading `forest service' in the Act of May 23, 1908 (35 Stat. 
     260, chapter 192; 16 U.S.C. 500), and section 13 of the Act 
     of March 1, 1911 (commonly known as the `Weeks Law') (36 
     Stat. 963, chapter 186; 16 U.S.C. 500).
       ``(B) Payments made from the Bureau of Land Management 
     Account established under section 300207(b)(2) of title 36 
     shall be treated as payments made pursuant to subsection (a) 
     of title II of the Act of August 28, 1937 (50 Stat. 875, 
     chapter 876; 43 U.S.C. 2605).
       ``(C) Payments made from the United States Fish and 
     Wildlife Account established under section 300207(b)(3) of 
     title 36 shall be treated the same as payments made pursuant 
     to section 401(c)(2) of the Act of June 15, 1935 (commonly 
     known as the `Refuge Revenue Sharing Act') (49 Stat. 383, 
     chapter 261; 16 U.S.C. 715s(c)(2)).''.
                                 ______