A bill to authorize certain revenues from leases on the Outer Continental Shelf to be made available to coastal and other States.

Summary

Provides that all rentals, royalties, or other sums paid to the Secretary of the Treasury or the Secretary of the Navy under or in connection with any lease on the Outer Continental Shelf on and after the date of the enactment of this Act shall be deposited in the Treasury of the United States; and of the amount of the revenues so deposited in each fiscal year which are attributable to the portion of the Outer Continental Shelf adjacent to any State: (1) 25 percent shall be paid by the Secretary of the Treasury to such adjacent State; (2) 25 percent shall be paid by the Secretary, in equal amounts, to each of the several States other than such adjacent State; and (3) 50 percent shall be deposited in the Treasury of the United States and credited to miscellaneous receipts. (Amends 43 U.S.C. 1338)

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Documents

1 official file

• Introduced in Senate

  summary · EN · 15 January 1975

  Open at official source

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