To authorize the State of Virginia to petition for authorization to conduct natural gas or crude oil (or both) exploration and extraction activities in any area that is at least 50 miles beyond the coastal zone of the State, and for other purposes.

Summary: Amends the Outer Continental Shelf Lands Act to authorize the governor of Virginia to petition the Secretary of the Interior for authorization to conduct natural gas or crude oil (or both) exploration and extraction activities in any area that is at least 50 miles beyond the state's coastal zone.

Requires the Secretary of the Treasury to deposit into a Clean Energy Fund of 50% of all rentals, royalties, bonus bids, and other sums due and payable to the United States from leases entered into under this Act for natural gas or crude oil (or both) exploration and extraction activities. Requires deposit of the other 50% into a special account in the Treasury from which the Secretary shall disburse: (1) 75% to the state; (2) 12.5% to provide financial assistance to states in accordance with the Land and Water Conservation Fund Act of 1965; and (3) 12.5% to a reserve fund to be used to mitigate for any environmental damage that occur as a result of extraction activities authorized under this Act.

Specifies alternative mandatory uses of such funds by Virginia.

Declares that the lines extending seaward and defining the state's Adjacent Zone are as indicated on the map entitled "Atlantic OCS Region State Adjacent Zones and OCS Planning Areas," dated September 2005 and on file in the Office of the Director, Minerals Management Service.

SECTION 1. AVAILABILITY OF CERTAIN AREAS FOR LEASING.

    Section 8 of the Outer Continental Shelf Lands Act (43 U.S.C. 1337) 
is amended by adding at the end the following:
    ``(q) Availability of Certain Areas for Leasing.--
            ``(1) Definitions.--In this subsection:
                    ``(A) Atlantic coastal state.--The term `Atlantic 
                Coastal State' means each of the States of Maine, New 
                Hampshire, Massachusetts, Connecticut, Rhode Island, 
                Delaware, New York, New Jersey, Maryland, Virginia, 
                North Carolina, South Carolina, Georgia, and Florida.
                    ``(B) Governor.--The term `Governor' means the 
                Governor of the State.
                    ``(C) Qualified revenues.--The term `qualified 
                revenues' means all rentals, royalties, bonus bids, and 
                other sums due and payable to the United States from 
                leases entered into on or after the date of enactment 
                of this Act for natural gas or crude oil (or both) 
                exploration and extraction activities authorized by the 
                Secretary under this subsection.
                    ``(D) State.--The term `State' means the State of 
                Virginia.
            ``(2) Petition.--
                    ``(A) In general.--The Governor may submit to the 
                Secretary--
                            ``(i) a petition requesting that the 
                        Secretary issue leases authorizing the conduct 
                        of natural gas or crude oil (or both) 
                        exploration activities only to ascertain the 
                        presence or absence of a natural gas or crude 
                        oil (or both) reserve in any area that is at 
                        least 50 miles beyond the coastal zone of the 
                        State; and
                            ``(ii) if a petition for exploration by the 
                        State described in clause (i) has been approved 
                        in accordance with paragraph (3) and the 
                        geological finding of the exploration justifies 
                        extraction, a second petition requesting that 
                        the Secretary issue leases authorizing the 
                        conduct of natural gas or crude oil (or both) 
                        extraction activities in any area that is at 
                        least 50 miles beyond the coastal zone of the 
                        State.
                    ``(B) Contents.--In any petition under subparagraph 
                (A), the Governor shall include a detailed plan of the 
                proposed exploration and subsequent extraction 
                activities, as applicable.
            ``(3) Action by secretary.--
                    ``(A) In general.--Subject to subparagraph (F), as 
                soon as practicable after the date of receipt of a 
                petition under paragraph (2), the Secretary shall 
                approve or deny the petition.
                    ``(B) Requirements for exploration.--The Secretary 
                shall not approve a petition submitted under paragraph 
                (2)(A)(i) unless the State legislature has enacted 
                legislation supporting exploration for natural gas or 
                crude oil, as applicable, in the coastal zone of the 
                State.
                    ``(C) Requirements for extraction.--The Secretary 
                shall not approve a petition submitted under paragraph 
                (2)(A)(ii) unless the State legislature has enacted 
                legislation supporting extraction for natural gas or 
                crude oil, as applicable, in the coastal zone of the 
                State.
                    ``(D) Consistency with legislation.--The plan 
                provided in the petition under paragraph (2)(B) shall 
                be consistent with the legislation described in 
                subparagraph (B) or (C), as applicable.
                    ``(E) Comments from atlantic coastal states.--On 
                receipt of a petition under paragraph (2), the 
                Secretary shall--
                            ``(i) provide Atlantic Coastal States with 
                        an opportunity to provide to the Secretary 
                        comments on the petition; and
                            ``(ii) take into consideration, but not be 
                        bound by, any comments received under clause 
                        (i).
                    ``(F) Conflicts with military operations.--The 
                Secretary shall not approve a petition for a drilling 
                activity under this paragraph if the drilling activity 
                would conflict with any military operation, as 
                determined by the Secretary of Defense.
            ``(4) Disposition of revenues.--Notwithstanding section 9, 
        for each applicable fiscal year, the Secretary of the Treasury 
        shall deposit--
                    ``(A) 50 percent of qualified revenues in a Clean 
                Energy Fund in the Treasury, which shall be established 
                by the Secretary; and
                    ``(B) 50 percent of qualified revenues in a special 
                account in the Treasury from which the Secretary shall 
                disburse--
                            ``(i) 75 percent to the State;
                            ``(ii) 12.5 percent to provide financial 
                        assistance to the State in accordance with 
                        section 6 of the Land and Water Conservation 
                        Fund Act of 1965 (16 U.S.C. 460l-8), which 
                        shall be considered income to the Land and 
                        Water Conservation Fund for purposes of section 
                        2 of that Act (16 U.S.C. 460l-5); and
                            ``(iii) 12.5 percent to a reserve fund to 
                        be used to mitigate for any environmental 
                        damage that occurs as a result of extraction 
                        activities authorized under this subsection, 
                        regardless of whether the damage is--
                                    ``(I) reasonably foreseeable; or
                                    ``(II) caused by negligence, 
                                natural disasters, or other acts.
            ``(5) Lines extending seaward and defining the state's 
        adjacent zone.--Notwithstanding the requirement that the 
        President determine and publish projected lines under the first 
        sentence of section 4(a)(2), for purposes of the application of 
        that section with respect to this subsection the lines 
        extending seaward and defining the State's Adjacent Zone are as 
        indicated on the map entitled `Atlantic OCS Region State 
        Adjacent Zones and OCS Planning Areas', dated September 2005 
        and on file in the Office of the Director, Minerals Management 
        Service.
            ``(6) Use of funds by virginia.--Amounts paid to Virginia 
        under paragraph (4)(B) shall be used by Virginia for one or 
        more of the following:
                    ``(A) Education.
                    ``(B) Transportation.
                    ``(C) Reducing taxes.
                    ``(D) Coastal and environmental restoration.
                    ``(E) Energy infrastructure and projects.
                    ``(F) Virginia State seismic monitoring programs.
                    ``(G) Alternative energy development.
                    ``(H) Energy efficiency and conservation.
                    ``(I) Hurricane and natural disaster insurance 
                programs.''.