A bill to amend chapter 641 of title 10, United States Code, so as to require certain proceeds from the disposition of lands within the naval petroleum reserves to be made available to the States within which such lands are located.

Summary

Provides, on and after the date of the enactment of this Act, that all money accruing to the United States from sales, bonuses, royalties, and rentals of land comprising the naval petroleum reserves, in connection with the production for domestic use of oil and gas produced therefrom, shall be paid into the U.S. Treasury. Directs that 37.5 percent of such revenues shall be paid by the Secretary of the Treasury to the State within the boundaries of which the leased lands or deposits are or were located. Allows a State to use such money for purposes that it deems to be in its best interests. Declares that 2.5 percent of all such money accruing to the United States in connection with the production for domestic use of oil and gas from Naval Petroleum Reserve Numbered 4 in Alaska shall be paid to the Alaska Native Claims Settlement Act.

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1 official file

• Introduced in House

  summary · EN · 21 March 1975

  Open at official source

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