SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Stable Fire Funding Act of 2006''.

SEC. 2. BUREAU OF LAND MANAGEMENT EMERGENCY FIREFIGHTING FUND.

    (a) Establishment.--There is established in the Treasury of the 
United States a fund to be used to pay 80 percent of the cost to the 
United States for Bureau of Land Management emergency wildland fire 
suppression activities that exceed amounts annually appropriated for 
wildland fire suppression activities (referred to in this section as 
the ``Fund''), consisting of--
            (1) such amounts as are appropriated to the Fund under 
        subsection (e);
            (2) such amounts as are appropriated but not expended for 
        fire suppression activities, to be transferred to the Fund by 
        the Secretary of the Interior; and
            (3) any interest earned on investment of amounts in the 
        Fund under subsection (c).
    (b) Expenditures From Fund.--Subject to paragraph (2), upon request 
by the Secretary of the Interior, the Secretary of the Treasury shall 
transfer from the Fund to the Secretary of the Interior such amounts as 
the Secretary of the Interior determines is necessary for wildland fire 
suppression activities under subsection (a).
    (c) Investment of Amounts.--
            (1) In general.--The Secretary of the Treasury shall invest 
        such portion of the Fund as is not, in the judgment of the 
        Secretary of the Treasury, required to meet current 
        withdrawals. Investments may be made only in interest-bearing 
        obligations of the United States.
            (2) Acquisition of obligations.--For the purpose of 
        investments under paragraph (1), obligations may be acquired--
                    (A) on original issue at the issue price; or
                    (B) by purchase of outstanding obligations at the 
                market price.
            (3) Sale of obligations.--Any obligation acquired by the 
        Fund may be sold by the Secretary of the Treasury at the market 
        price.
            (4) Credits to fund.--The interest on, and the proceeds 
        from the sale or redemption of, any obligations held in the 
        Fund shall be credited to and form a part of the Fund.
    (d) Accounting and Reporting System.--The Secretary of the Interior 
shall establish an accounting and reporting system for the Fund in 
accordance with National Fire Plan reporting procedures.
    (e) Authorization of Appropriations.--There are authorized to be 
appropriated to the Fund--
            (1) for fiscal year 2007, $160,000,000 for emergency 
        wildland fire suppression activities carried out by the Bureau 
        of Land Management that exceed amounts annually appropriated 
        for wildland fire suppression activities; and
            (2) for each subsequent fiscal year, such amount as is 
        necessary to maintain in the Fund the amount that is equal to 
        80 percent of the greatest of the amounts incurred by the 
        Secretary of the Interior for emergency fire suppression during 
        any of the 5 preceding fiscal years that exceed amounts 
        annually appropriated for wildland fire suppression activities.

SEC. 3. FOREST SERVICE EMERGENCY FIREFIGHTING FUND.

    (a) Establishment.--There is established in the Treasury of the 
United States a fund to be used to pay 80 percent of the cost to the 
United States for Forest Service emergency wildland fire suppression 
activities that exceed amounts annually appropriated for wildland fire 
suppression activities (referred to in this section as the ``Fund''), 
consisting of--
            (1) such amounts as are appropriated to the Fund under 
        subsection (e);
            (2) such amounts as are appropriated but not expended for 
        fire suppression activities, to be transferred to the Fund by 
        the Secretary of Agriculture; and
            (3) any interest earned on investment of amounts in the 
        Fund under subsection (c).
    (b) Expenditures From Fund.--Subject to paragraph (2), upon request 
by the Secretary of Agriculture, the Secretary of the Treasury shall 
transfer from the Fund to the Secretary of Agriculture such amounts as 
the Secretary of Agriculture determines is necessary for wildland fire 
suppression activities under subsection (a).
    (c) Investment of Amounts.--
            (1) In general.--The Secretary of the Treasury shall invest 
        such portion of the Fund as is not, in the judgment of the 
        Secretary of the Treasury, required to meet current 
        withdrawals. Investments may be made only in interest-bearing 
        obligations of the United States.
            (2) Acquisition of obligations.--For the purpose of 
        investments under paragraph (1), obligations may be acquired--
                    (A) on original issue at the issue price; or
                    (B) by purchase of outstanding obligations at the 
                market price.
            (3) Sale of obligations.--Any obligation acquired by the 
        Fund may be sold by the Secretary of the Treasury at the market 
        price.
            (4) Credits to fund.--The interest on, and the proceeds 
        from the sale or redemption of, any obligations held in the 
        Fund shall be credited to and form a part of the Fund.
    (d) Accounting and Reporting System.--The Secretary of Agriculture 
shall establish an accounting and reporting system for the Fund in 
accordance with National Fire Plan reporting procedures.
    (e) Authorization of Appropriations.--There are authorized to be 
appropriated to the Fund--
            (1) for fiscal year 2007, $510,000,000 for emergency 
        wildland fire suppression activities carried out by the Forest 
        Service that exceed amounts annually appropriated for wildland 
        fire suppression activities; and
            (2) for each subsequent fiscal year, such amount as is 
        necessary to maintain in the Fund the amount that is equal to 
        80 percent of the greatest of the amounts incurred by the 
        Secretary of Agriculture for emergency fire suppression during 
        any of the 5 preceding fiscal years that exceed amounts 
        annually appropriated for wildland fire suppression activities.
Stable Fire Funding Act of 2006 - Establishes in the Treasury separate funds to be used to pay 80% of the cost for Bureau of Land Management (BLM) and Forest Service emergency wildland fire suppression activities that exceed amounts annually appropriated for wildland fire suppression activities.
A bill to provide for the establishment of emergency wildland fire suppression funds.