Oil Shale Reserve Fund Revenue Disposition Act

Summary

Oil Shale Reserve Fund Revenue Disposition Act - Amends federal law concerning the leasing to private entities by the Secretary of the Interior of certain federal oil shale reserves in Colorado to provide a new system for the distribution of revenues from such leases (currently, all proceeds are deposited into the Treasury). States that, for all proceeds received between November 18, 1997, and December 31, 2017: (1) 50% shall be transferred from the Secretary of the Treasury to the state of Colorado for deposit into its oil shale special fund; and (2) 50% shall be deposited into a special account of the Treasury. Requires amounts deposited into: (1) the Colorado special fund to be used to assist state agencies, school districts, and political subdivisions affected by the development and production of energy resources from oil shale in planning for and providing facilities and services associated with such development and production; and (2) the special account of the Treasury to be used for any of a number of purposes, including environmental restoration and financial assistance to the states of Colorado, Utah, and Wyoming for costs connected to energy resources development and production.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 24 May 2007

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 24 May 2007

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• Introduced in Senate

  summary · EN · 24 May 2007

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