Renewable Resources Trust Fund Act of 1982

Summary

Renewable Resources Trust Fund Act of 1982 - Amends the Mineral Leasing Act of 1920 to increase from 12 1/2 percent to 20 percent the royalty payment under an oil and gas lease. Directs that all moneys received from sales, bonuses, royalties, and rentals of public lands for the production of oil and gas be paid into the Treasury. Requires one-sixth of all such moneys to be credited to the Renewable Resources Trust Fund. Provides that of the remaining moneys 50 percent shall go to the State in which the leased lands are located and 40 percent shall be paid into the reclamation fund created under the Reclamation Act of June 17, 1902. Amends the Outer Continental Shelf Lands Act to increase the royalty payments on an oil and gas lease from 12 1/2 to 20 percent. Requires one-sixth of all rents, royalties, and other sums to be credited to the Renewable Resources Trust Fund. Amends the Federal Land Policy and Management Act of 1976 to require grazing fees not credited to other accounts to be credited to the Renewable Resources Trust Fund. Requires 25 percent of those receipts deposited by the Secretary of Agriculture into the general fund of the Treasury derived from timber sales and grazing fees within the national forest system to be credited to the Renewable Resources Trust Fund. Establishes the Renewable Resources Trust Fund. States that amounts from the Fund will be used only for: (1) reforestation; (2) timber stand improvement; (3) fish and wildlife habitat improvement; (4) soil conservation and improvement; (5) water resource improvement and protection; and (6) rangeland improvement and protection.

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1 official file

• Introduced in House

  summary · EN · 23 July 1982

  Open at official source

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