fore the date of the enactment of this Act, to be allo-
cated among such State offices based on the per-
centage of covered land from which the royalties or 
bonuses are derived in each State. 
(5) The remainder shall be deposited into the 
general fund of the Treasury for purposes of reduc-
ing the annual Federal budget deficit. 
(b) RENEWABLE ENERGY RESOURCE CONSERVATION 
FUND.— 
(1) ESTABLISHMENT.—There is established in 
the Treasury of the United States a Renewable En-
ergy Resource Conservation Fund to be adminis-
tered by the Secretary of the Interior. 
(2) USE OF FUNDS.—The Secretary shall use 
amounts in the Fund to make payments to State 
agencies, Federal agencies, or other interested per-
sons for use for— 
(A) mitigating the impacts of renewable 
energy on Federal land, including— 
(i) protecting fish and wildlife cor-
ridors and other sensitive land; and 
(ii) restoring fish and wildlife habitat; 
and 
(B) carrying out any activity authorized 
under Public Law 88–578 (16 U.S.C. 460l–4 et 
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seq.) in the State, except for the acquisition of 
land, water, or interests therein within such 
State. 
(3) AVAILABILITY OF AMOUNTS.—Amounts in 
the Fund shall be available for expenditure, in ac-
cordance with this subsection, without further appro-
priation and without fiscal year limitation. 
(4) INVESTMENT OF FUND.— 
(A) IN GENERAL.—Any amounts deposited 
in the Fund shall earn interest in an amount 
determined by the Secretary of the Treasury on 
the basis of the current average market yield on 
outstanding marketable obligations of the 
United States of comparable maturities. 
(B) USE.—Any interest earned under sub-
paragraph (A) may be expended in accordance 
with this subsection. 
(c) ALLOCATION FOR PERMITTING AFTER EXPIRA-
TION OF 15-YEAR PERIOD.— 
(1) CERTIFICATION
BY
SECRETARY.—At the 
end of the 15-year period described in subsection 
(a)(4), the Secretary shall certify whether the State 
offices referred to in such subsection have ade-
quately reduced the renewable energy permitting 
backlog referred to in such subsection. 
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(2) ALLOCATION
AFTER
CERTIFICATION.—If 
the Secretary certifies under paragraph (1) that— 
(A) the State offices referred to in such 
paragraph have not adequately reduced the 
backlog referred to in such paragraph— 
(i) the 15-year period described in 
subsection (a)(4) shall be extended by an 
additional 15-year period; and 
(ii) payments shall continue to be 
made during that period as described in 
such subsection; or 
(B) the State offices referred to in such 
paragraph have adequately reduced such back-
log— 
(i) two-thirds of the amount otherwise 
required to be paid under subsection (a)(4) 
shall be added to the amount deposited in 
the Fund established under subsection (b); 
and 
(ii) one-third of such amount shall be 
deposited into the general fund of the 
Treasury for purposes of reducing the an-
nual Federal budget deficit. 
(d) PAYMENTS
TO
STATES
AND
COUNTIES.— 
Amounts paid to States and counties under subsection (a) 
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shall be used in a manner that is consistent with section 
35 of the Mineral Leasing Act (30 U.S.C. 191). 
SEC. 7. REPORT AND ENVIRONMENTAL IMPACT ANALYSIS 
ON DEVELOPMENT OF RENEWABLE ENERGY 
ON MILITARY INSTALLATIONS. 
(a) REPORT.—Not later than two years after the date 
of the enactment of this Act, the Secretary of Defense, 
in consultation with the Secretary of the Interior, shall 
submit to the Committee on Armed Services and the Com-
mittee on Natural Resources of the House of Representa-
tives and the Committee on Armed Services and the Com-
mittee on Energy and Natural Resources of the Senate 
a report that— 
(1) identifies locations on military installations 
in the United States that— 
(A) exhibit a high potential for renewable 
energy production; 
(B) are disturbed or otherwise have a com-
paratively low value for uses other than for re-
newable energy production; and 
(C) could be developed for renewable en-
ergy production in a manner consistent with all 
present and reasonably foreseeable military 
training and operational missions and research, 
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development, testing, and evaluation require-
ments; 
(2) describes the actions necessary for the ad-
ministration of the development of commercial-scale 
renewable energy projects on military installations in 
the United States, including the legal authorities 
governing authorization for that use; and 
(3) makes recommendations regarding— 
(A) necessary changes to Federal law (in-
cluding regulations) for the development of re-
newable energy projects; 
(B) the legal instruments available to carry 
out such development, including a lease, con-
tract, right-of-way, permit, or other form of au-
thorization; 
(C) methods of improving coordination 
among the Federal, State, and local agencies, if 
any, involved in authorizing such development; 
and 
(D) the disposition of revenues resulting 
from such development. 
(b) ENVIRONMENTAL IMPACT ANALYSIS.—Not later 
than one year after the report is submitted under sub-
section (a), the Secretary of Defense, in consultation with 
the Secretary of the Interior, shall publish in the Federal 
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Register a notice of intent to prepare an environmental 
impact analysis to support the development of renewable 
energy on the locations identified in the report submitted 
under subsection (a) as suitable for renewable energy pro-
duction. 
SEC. 8. STUDY AND REPORT ON MITIGATION BANKING. 
(a) STUDY.— 
(1) IN
GENERAL.—Not later than 180 days 
after the date of enactment of this Act, the Sec-
retary of the Interior and the Secretary of Agri-
culture shall carry out a study to determine the fea-
sibility of carrying out a mitigation banking program 
on Federal land administered by the Secretary of the 
Interior or the Secretary of Agriculture for purposes 
of offsetting the impacts of renewable energy on 
such Federal land. 
(2) CONTENTS.—The study under paragraph 
(1) shall— 
(A) identify areas in which— 
(i) privately owned land is not avail-
able to offset the impacts of renewable en-
ergy development on Federal land adminis-
tered by the Secretary of the Interior or 
the Secretary of Agriculture; or 
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