REVOLVING FUND.

    ``(a) Establishment.--There is established in the Treasury of the 
United States a United States Institute for Environmental Conflict 
Resolution Revolving Fund to be administered by the Foundation. The 
Revolving Fund shall consist of amounts appropriated to the Revolving 
Fund under section 13(b) and amounts paid into the Revolving Fund under 
section 11.
    ``(b) Expenditures.--The Foundation shall expend from the Revolving 
Fund such sums as the Board determines are necessary and appropriate to 
establish and operate the Institute, including such amounts as are 
necessary for salaries, administration, the provision of mediation and 
other services, and such other expenses as the Board determines are 
reasonable and necessary.
    ``(c) Distinction From Trust Fund.--The Revolving Fund shall be 
maintained separately from the Trust Fund established under section 8.
    ``(d) Program Priorities.--The Revolving Fund shall not be subject 
to section 7(c) or section 9.
    ``(e) Investment of Amounts.--
            ``(1) In general.--The Secretary of the Treasury shall 
        invest such portion of the Revolving Fund as is not, in the 
        judgment of the Secretary, 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 
        Revolving 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 
        Revolving Fund shall be credited to and form a part of the 
        Revolving Fund.''.

SEC. 7. USE OF THE INSTITUTE BY A FEDERAL AGENCY.

    The Morris K. Udall Scholarship and Excellence in National 
Environmental and Native American Public Policy Act of 1992 (20 U.S.C. 
5601 et seq.) (as amended by section 6) is amended by inserting after 
section 10 the following:

``SEC. 11. USE OF THE INSTITUTE BY A FEDERAL AGENCY.

    ``(a) Authorization.--A Federal agency may use the Foundation and 
the Institute to provide assessment, mediation, or other related 
services in connection with a dispute or conflict related to the 
environment, public lands, or natural resources.
    ``(b) Payment.--
            ``(1) In general.--A Federal agency may enter into a 
        contract and expend funds to obtain the services of the 
        Institute.
            ``(2) Payment into revolving fund.--A payment from an 
        executive agency on a contract entered into under paragraph (1) 
        shall be paid into the Revolving Fund.
    ``(c) Notification and Concurrence.--
            ``(1) Notification.--An agency or instrumentality of the 
        Federal Government shall notify the chairperson of the 
        President's Council on Environmental Quality before using the 
        Foundation or the Institute to provide the services described 
        in subsection (a).
            ``(2) Notification descriptions.--A notification under 
        paragraph (1) shall include a written description of--
                    ``(A) the issues and parties involved;
                    ``(B) prior efforts, if any, undertaken by the 
                agency to resolve or address the issue or issues; and
                    ``(C) other relevant information.
            ``(3) Concurrence.--In a case that involves a dispute or 
        disagreement between 2 or more agencies or instrumentalities of 
        the Federal Government (including branches or divisions of a 
        single agency or instrumentality), an agency or instrumentality 
        of the Federal Government shall obtain the concurrence of the 
        chairperson of the President's Council on Environmental Quality 
        before using the Foundation or Institute to provide the 
        services described in subsection (a).''.

SEC. 8. AUTHORIZATION OF APPROPRIATIONS.

    (a) In General.--Section 13 of the Morris K. Udall Scholarship and 
Excellence in National Environmental and Native American Public Policy 
Act of 1992 (as redesignated by section 6(a)) is amended--
            (1) by striking ``There are authorized to be appropriated 
        to the Fund'' and inserting the following:
    ``(a) Trust Fund.--There are authorized to be appropriated to the 
Trust Fund''; and
            (2) by adding at the end the following:
    ``(b) Revolving Fund.--There are authorized to be appropriated to 
the Revolving Fund $3,000,000 for fiscal year 1998 and $2,100,000 for 
each of fiscal years 1999 through 2002.''.

SEC. 9. CONFORMING AMENDMENTS.

    (a) The second sentence of section 8(a) of the Morris K. Udall 
Scholarship and Excellence in National Environmental and Native 
American Public Policy Act of 1992 (20 U.S.C. 5606) is amended--
            (1) by striking ``fund'' and inserting ``Trust Fund''; and
            (2) by striking ``section 11'' and inserting ``section 
        13(a)''.
    (b) Sections 7(a)(6), 8(b), and 9(a) of the Morris K. Udall 
Scholarship and Excellence in National Environmental and Native 
American Public Policy Act of 1992 (20 U.S.C. 5605(a)(6), 5606(b), 
5607(a)) are each amended by striking ``Fund'' and inserting ``Trust 
Fund'' each place it appears.
Environmental Policy and Conflict Resolution Act of 1997 - Amends the Morris K. Udall Scholarship and Excellence in National Environmental and Native American Public Policy Act of 1992 to include in the Board of Trustees of the Morris K. Udall Scholarship and Excellence in National Environmental Policy Foundation the chairperson of the President's Council on Environmental Quality. 
Revises the purposes and authority of the Foundation to include establishment of the United States Institute for Environmental Conflict Resolution to assist the Government in implementing environmental assessment provisions of the National Environmental Policy Act of 1969. 
Establishes in the Treasury a United States Institute for Environmental Conflict Resolution Revolving Fund, for establishment and operation of the Institute, to be administered by the Foundation. 
Establishes procedures for use by a Federal agency of the Foundation and the Institute to provide assessment, mediation, or related services in connection with a dispute or conflict related to the environment, public lands, or natural resources. 
Authorizes appropriations.
Environmental Policy and Conflict Resolution Act of 1997