A bill to amend title 10, United States Code, to provide for the distribution of a share of certain mineral revenues to the State of Colorado, and for other purposes.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Oil Shale Reserve Fund Revenue 
Disposition Act''.

SEC. 2. DISPOSITION OF QUALIFIED OIL SHALE REVENUES.

    Section 7439 of title 10, United States Code, is amended--
            (1) in subsection (f)--
                    (A) in paragraph (1)--
                            (i) by striking ``all moneys received 
                        during the period specified in paragraph (2)'' 
                        and inserting ``during the period beginning on 
                        November 18, 1997, and ending on December 31, 
                        2017, all amounts received''; and
                            (ii) by striking ``and shall not be subject 
                        to the distribution to the states pursuant to 
                        subsection (a) of such section 35'' and 
                        inserting ``for distribution in accordance with 
                        subsection (g)''; and
                    (B) by striking paragraph (2) and inserting the 
                following:
            ``(2) Any amounts deposited under paragraph (1) shall not 
        be subject to distribution to the States under section 35(a) of 
        the Mineral Leasing Act (30 U.S.C. 191(a)).''; and
            (2) by striking subsection (g) and inserting the following:
    ``(g) Use of Revenues.--
            ``(1) Definitions.--In this subsection:
                    ``(A) Secretary.--The term `Secretary' means the 
                Secretary of the Interior.
                    ``(B) State.--The term `State' means the State of 
                Colorado.
                    ``(C) State fund.--The term `State fund' means the 
                oil shale special fund established under Colo. Rev. 
                Stat. 34-63-104.
            ``(2) Distribution of revenues.--Of the amounts deposited 
        in the general fund of the Treasury under subsection (f)(1)--
                    ``(A) 50 percent shall be transferred from the 
                Secretary of the Treasury to the State for deposit in 
                the State fund, for use in accordance with paragraph 
                (3); and
                    ``(B) 50 percent shall be deposited in a special 
                account of the Treasury, to be available to the 
                Secretary without further appropriation until expended, 
                for use in accordance with paragraph (4).
            ``(3) Use of state fund.--Amounts deposited in the State 
        fund under paragraph (2)(A) shall be used by the State in 
        accordance with the provisions of the State fund to assist 
        State agencies, school districts, and political subdivisions of 
        the State affected by the development and production of energy 
        resources from oil shale land in planning for and providing 
        facilities and services associated with the development and 
        production.
            ``(4) Use of special account.--
                    ``(A) In general.--The Secretary shall use amounts 
                deposited in the special account under paragraph (2)(B) 
                only for 1 or more of the following purposes:
                            ``(i) Any necessary environmental 
                        restoration, waste management, or environmental 
                        compliance activities with respect to Oil Shale 
                        Reserve Numbered 3 that are--
                                    ``(I) the responsibility of the 
                                United States; and
                                    ``(II)(aa) identified in the report 
                                relating to Oil Shale Reserve Numbered 
                                3 submitted by the Secretary to 
                                Congress in November 2005; or
                                    ``(bb) identified by the Secretary 
                                after the date of the submission of the 
                                report described in item (aa).
                            ``(ii) Any necessary additional analysis, 
                        site characterization, and geotechnical studies 
                        or monitoring that the Secretary determines to 
                        be necessary to support environmental 
                        restoration, waste management, or environmental 
                        compliance with respect to Oil Shale Reserve 
                        Numbered 3.
                            ``(iii) Financial assistance to local 
                        governments in the States of Colorado, Utah, 
                        and Wyoming affected by the development and 
                        production of energy resources from oil shale 
                        land in the form of grants awarded in a manner 
                        prescribed by the Secretary to carry out 
                        planning for, and providing infrastructure that 
                        may be necessary to address, community needs 
                        created by new energy production and 
                        development activities.
                            ``(iv) Financial assistance to the States 
                        of Colorado, Utah, and Wyoming for purposes 
                        of--
                                    ``(I) conducting studies requested 
                                by the Secretary; or
                                    ``(II) carrying out coordination 
                                and consultation activities under this 
                                section.
                            ``(v) Any additional administrative costs 
                        incurred by the Bureau of Land Management for 
                        the coordination and processing of use 
                        authorizations on Federal land, inspection and 
                        enforcement activities, and monitoring 
                        necessary to implement section 369 of the 
                        Energy Policy Act of 2005 (42 U.S.C. 15927).
                    ``(B) Coordination.--To ensure accountability and 
                demonstrated results, the Secretary shall coordinate 
                with the Secretary of Energy, the State, local 
                governments, and other interested persons in using 
                amounts in the special account under this paragraph.''.

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 . 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.