ty-equivalent political subdivisions, as determined by 
the most recent official data of the Census Bureau. 
‘‘(4) COASTAL ZONE.—The term ‘coastal zone’ 
means that portion of a coastal State, including the 
entire territory of any coastal county-equivalent po-
litical subdivision at least a part of which lies, within 
75 miles landward from the coastline, or a greater 
distance as determined by State law enacted to im-
plement this section. 
‘‘(5) BONUS
BIDS.—The term ‘bonus bids’ 
means all funds received by the Secretary to issue 
an outer Continental Shelf minerals lease. 
‘‘(6) ROYALTIES.—The term ‘royalties’ means 
all funds received by the Secretary from production 
of oil or natural gas, or the sale of production taken 
in-kind, or from net profit shares, from an outer 
Continental Shelf minerals lease. 
‘‘(7) PRODUCING STATE.—The term ‘producing 
State’ means an Adjacent State having an Adjacent 
Zone containing leased tracts from which OCS Re-
ceipts were derived. 
‘‘(8) OCS RECEIPTS.—The term ‘OCS Receipts’ 
means bonus bids and royalties, excluding royalties 
from leases amended under the authority of section 
8(s) of this Act.’’. 
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(b) AMENDMENT OF INTERNAL REVENUE CODE OF 
1986.— 
(1) IN GENERAL.—Subchapter A of chapter 98 
of the Internal Revenue Code of 1986 is amended by 
adding at the end the following new section: 
‘‘SEC. 9511. DEFICIT REDUCTION TRUST FUND. 
‘‘(a) CREATION.—There is established in the Treas-
ury of the United States a trust fund to be known as the 
‘Deficit Reduction Trust Fund’, consisting of such 
amounts as may be appropriated or credited to the Deficit 
Reduction Trust Fund as provided in this section. 
‘‘(b) TRANSFERS.—There are hereby appropriated to 
the Deficit Reduction Trust Fund amounts equivalent to 
25 percent of all OCS Receipts, as defined in section 
9(i)(8) of the Outer Continental Shelf Lands Act (43 
U.S.C. 1338), that are derived from leases under that Act 
on tracts that would not have been available for leasing 
prior to the enactment of the Grow American Supply Act 
and that would otherwise have been deposited in the Gen-
eral Fund of the Treasury and not allocated to any other 
specific use. 
‘‘(c) EXPENDITURES.—Amounts in the Deficit Re-
duction Trust Fund shall be available as provided in ap-
propriation Acts only for the purpose of reducing the Fed-
eral debt.’’. 
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(2) CLERICAL AMENDMENT.—The table of sec-
tions at the beginning of such subchapter is amend-
ed by adding at the end the following new item: 
‘‘9511. Deficit Reduction Trust Fund.’’. 
SEC. 8. REVIEW OF OUTER CONTINENTAL SHELF EXPLO-
RATION PLANS. 
Subsections (c) and (d) of section 11 of the Outer 
Continental Shelf Lands Act (43 U.S.C. 1340) are amend-
ed to read as follows: 
‘‘(c) PLAN REVIEW; PLAN PROVISIONS.— 
‘‘(1) Except as otherwise provided in this Act, 
prior to commencing exploration pursuant to any oil 
and gas lease issued or maintained under this Act, 
the holder thereof shall submit an exploration plan 
(hereinafter in this section referred to as a ‘plan’) to 
the Secretary for review which shall include all infor-
mation and documentation required under para-
graphs (2) and (3). The Secretary shall review the 
plan for completeness within 10 days of submission. 
If the Secretary finds that the plan is not complete, 
the Secretary shall notify the lessee with a detailed 
explanation and require such modifications of such 
plan as are necessary to achieve completeness. The 
Secretary shall have 10 days to review a modified 
plan for completeness. Such plan may apply to more 
than one lease held by a lessee in any one region of 
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