SECTION 1. RELATIONSHIP TO OUTER CONTINENTAL SHELF LEASING PROGRAM AND 
              EXISTING LAW.

    (a) Relationship to Outer Continental Shelf Leasing Program.--
Notwithstanding the Outer Continental Shelf Leasing Program maintained 
by the Secretary pursuant to section 18 of the Outer Continental Shelf 
Lands Act (43 U.S.C. 1344) or any lease sale schedule contained in a 
specific leasing program thereunder, the Secretary shall carry out such 
program consistent with the provisions of this Act.
    (b) Relationship to Existing Law.--Except as otherwise specifically 
provided in this Act, nothing in this Act shall be construed to affect 
the application of other Federal law to activities conducted on the 
Outer Continental Shelf.

SEC. 2. OUTER CONTINENTAL SHELF LEASING ENVIRONMENTAL SCIENCES REVIEW.

    (a) Environmental Sciences Review Panel.--
            (1) Establishment.--An environmental sciences review panel 
        shall be established for the areas of the Outer Continental 
        Shelf that are offshore Florida.
            (2) Purposes.--The purposes of the review panel established 
        under paragraph (1) shall be--
                    (A) to assess the adequacy of available physical 
                oceanographic, ecological, and socioeconomic 
                information in enabling the Secretary to carry out his 
                responsibilities under the Outer Continental Shelf 
                Lands Act with respect to authorizing--
                            (i) leasing and exploration; and
                            (ii) development and production,
                in the area covered by such review panel;
                    (B) if such available information is not adequate 
                for such purposes, to identify the additional studies 
                required to obtain such information;
                    (C) to identify the potential physical 
                oceanographic, ecological, and socioeconomic impacts of 
                exploration and development in the area covered by such 
                review panel;
                    (D) to provide for and supervise the peer review, 
                by qualified scientists not employed by the Federal 
                Government, of the proposed studies identified under 
                subparagraph (B) before their submission to the 
                Secretary and separate reviews of each research 
                proposal designed to implement those studies; and
                    (E) to report to the Secretary on its findings and 
                recommendations under this paragraph.
            (3) Membership.--The review panel established under 
        paragraph (1) shall consist of--
                    (A) one representative each from the Environmental 
                Protection Agency, the Minerals Management Service, the 
                National Oceanic and Atmospheric Administration, and 
                the United States Fish and Wildlife Service;
                    (B) four representatives from the State of Florida 
                approved by the Governor of such State; and
                    (C) three members appointed by the Secretary of 
                Commerce from a list of individuals nominated by the 
                National Academy of Sciences who are professional 
                scientists in the fields of physical oceanography, 
                marine ecology, and social science.
            (4) Compensation.--(A) Members of the review panel 
        appointed under paragraph (3)(C), while performing official 
        duties under this Act shall receive compensation for travel and 
        transportation expenses under section 5703 of title 5, United 
        States Code.
            (B) Members of the review panel appointed under paragraph 
        (3)(C) may be compensated at a rate to be fixed by the 
        Secretary of Commerce, but not in excess of the maximum rate of 
        pay for grade GS-18 provided in the General Schedule under 
        section 5332 of title 5, United States Code, for each day such 
        member spends performing the duties of the panel.
    (b) Reports to Congress.--The Secretary shall, after consideration 
of the findings and recommendations of the review panel established 
under subsection (a), submit a report to the Congress--
            (1) certifying that the physical oceanographic, ecological, 
        and socioeconomic information available is sufficient to enable 
        the Secretary to carry out his responsibilities under the Outer 
        Continental Shelf Lands Act with respect to authorizing leasing 
        and development in the area covered by such review panel; and
            (2) including a detailed explanation of any differences 
        between such certification and the findings and recommendations 
        of the review panel, along with a detailed justification for 
        each such difference.
    (c) Leasing Considerations.--The Secretary shall, in determining 
whether to lease any area described in subsection (a)(1)--
            (1) consider the findings and recommendations of the review 
        panel established under subsection (a); and
            (2) to the extent that the Secretary disagrees with such 
        findings and recommendations, provide substantial evidence for 
        such disagreement.

SEC. 3. RESTRICTIONS AND REQUIREMENTS.

    (a) General Rule.--In the areas described in section 2(a)(1), the 
following restrictions and requirements shall apply:
            (1) No preleasing activity shall be conducted before the 
        issuance of the first final 5-year leasing plan under section 
        18 of the Outer Continental Shelf Lands Act after January 1, 
        2002.
            (2) No lease sale shall be held until after the expiration 
        of 45 days of continuous session of Congress after the 
        Secretary submits a report with respect to the area under 
        section 2(b).
    (b) Specific Provisions.--(1) In the Eastern Gulf of Mexico 
Planning Area north of 26 degrees north latitude and east of the 
lateral seaward boundary between the States of Florida and Alabama, no 
exploration or development plans or permits to drill shall be approved 
for any lease in existence on the date of enactment of this Act until 
after January 1, 2002.
    (2) In the Eastern Gulf of Mexico Planning Area offshore Florida, 
south of 26 degrees north latitude and east of 86 degrees west 
longitude--
            (A) studies to acquire the information found inadequate by 
        the National Research Council's report shall be completed prior 
        to any lease sale held after January 1, 2002; and
            (B)(i) notwithstanding the requirements of section 5(a)(2) 
        (A) and (B) of the Outer Continental Shelf Lands Act (43 U.S.C. 
        1334(a)(2) (A) and (B)), the Secretary, within 90 days after 
        the date of enactment of this Act, shall cancel any active 
        leases in the area;
            (ii) before the cancellation required under clause (i), no 
        exploration or development plans or permits to drill shall be 
        approved for any such lease in existence on the date of 
        enactment of this Act; and
            (iii) compensation to lessees owning leases that are 
        canceled under clause (i) shall be determined under section 
        5(a)(2) (C) and (D) of the Outer Continental Shelf Lands Act 
        (43 U.S.C. 1334(a)(2) (C) and (D)).
    (c) Continuous Session of Congress.--In computing any 45-day period 
of continuous session of Congress under this section--
            (1) continuity of session is broken only by an adjournment 
        of the Congress sine die; and
            (2) the days on which either House of Congress is not in 
        session because of an adjournment of more than 3 days to a day 
        certain are excluded.

SEC. 4. ENVIRONMENTAL STUDIES.

    Section 20(a)(1) of the Outer Continental Shelf Lands Act (43 
U.S.C. 1346(a)(1)) is amended by adding at the end the following new 
sentence: ``Such study shall include an assessment of the adequacy of 
available physical oceanographic, ecological, and socioeconomic 
information.''.

SEC. 5. ADEQUACY OF INFORMATION.

    Section 20 of the Outer Continental Shelf Lands Act (43 U.S.C. 
1346) is amended by adding at the end the following new subsection:
    ``(g) Adequacy of Information.--For the purposes of this section, 
the term `adequacy' means sufficiently complete to enable necessary 
decisions to be made under this Act, and of sufficient quality to be 
repeatable, reliable, and valid in measurements and analysis with 
appropriate methods and subject.''.

SEC. 6. COMPENSATION FOR LEASE BUYBACKS.

    Section 5(a)(2) of the Outer Continental Shelf Lands Act (43 U.S.C. 
1334(a)(2)) is amended--
            (1) by inserting ``and'' at the end of subparagraph (C); 
        and
            (2) by adding at the end the following new subparagraph:
                    ``(D) that compensation a lessee is entitled to 
                receive under subparagraph (C) may be made in the form 
                of currency, forgiveness of the lessee's obligation to 
                pay rents or royalties which would otherwise be paid to 
                the Federal Government on another lease issued pursuant 
                to this Act, or a combination of currency with such 
                forgiveness.''.

SEC. 7. DEFINITIONS.

    For the purposes of this Act--
            (1) terms defined in the Outer Continental Shelf Lands Act 
        have the meaning given such terms in that Act;
            (2) references to specific Outer Continental Shelf planning 
        areas shall be to areas so designated in the Department of the 
        Interior Outer Continental Shelf Natural Gas and Oil Resource 
        Management Comprehensive Program 1992-1997 Proposal, dated July 
        1991;
            (3) the term ``adequate'' means sufficiently complete to 
        enable necessary decisions to be made under the Outer 
        Continental Shelf Lands Act, and of sufficient scientific 
        quality to be repeatable, reliable, and valid in measurements 
        and analysis with appropriate methods and subject;
            (4) the term ``National Research Council's report'' means 
        the report entitled ``The Adequacy of Environmental Information 
        for Outer Continental Shelf Oil and Gas Decisions: Florida and 
        California'' issued in 1989 by the Council's Committee to 
        Review the Outer Continental Shelf Environmental Studies 
        Program and supported by the President's Outer Continental 
        Shelf Leasing and Development Task Force through Department of 
        the Interior Contract No. 1435000130495; and
            (5) the term ``preleasing activities'' means activities 
        conducted before a lease sale is held, and includes the 
        scheduling of a lease, requests for industry interest, calls 
        for information and nominations, area identifications, 
        publication of draft or final environmental impact statements, 
        notices of sale, and any form of rotary drilling; but such term 
        does not include environmental, geologic, geophysical, 
        economic, engineering, or other scientific analyses, studies, 
        and evaluations.
Directs the Secretary of the Interior (the Secretary) to implement the Outer Continental Shelf Leasing Program consistent with the provisions of this Act. 
Establishes the environmental sciences review panel for certain areas of the Outer Continental Shelf off-shore Florida in order to assess the adequacy of oceanographic, ecological, and socio-economic information available with respect to authorizing leasing and exploration, development, and production activities. 
Sets limitations with respect to preleasing activities and lease sales within such areas, including specific points in the Eastern Gulf of Mexico Planning Area. 
Amends the Outer Continental Shelf Lands Act to:  (1) include within certain required environmental studies an assessment of the adequacy of available physical oceanographic, ecological, and socioeconomic information; and (2) provide that certain lessee compensation may be a combination of currency and forgiveness of debts due on other leases.
Imposing certain restrictions and requirements on the leasing of lands offshore Florida under the Outer Continental Shelf Lands Act, and for other purposes.