LASSO Act

Bill: 119-hr-34
Sponsor: full_name: Rep. Gosar, Paul A. [R-AZ-9]
Introduced: 2025-01-03
Policy area: Public Lands and Natural Resources
Subjects: Government trust funds

Social security and elderly assistance
Latest action: action_date: 2025-01-31
text: Referred to the Subcommittee on Forestry and Horticulture.

Summaries:
action_date: 2025-01-03
action_desc: Introduced in House
text: <p><strong>Land And Social Security Optimization Act or the LASSO Act</strong></p><p>This bill requires 10% of revenue generated by public lands, including submerged lands on the Outer Continental Shelf, under the jurisdiction of the Department of the Interior and the Forest Service to be deposited into the Federal Old-Age and Survivors Insurance Trust Fund, which is used to pay Social Security benefits to retirees and their families and to survivors of deceased workers.</p>

tv_txt: I 119th CONGRESS 1st Session H. R. 34 IN THE HOUSE OF REPRESENTATIVES January 3, 2025 Mr. Gosar introduced the following bill; which was referred to the Committee on Natural Resources , and in addition to the Committee on Agriculture , for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned A BILL To deposit portions of revenue generated from public lands into the Social Security Trust Fund.

1. Short title This Act may be cited as the Land And Social Security Optimization Act or LASSO Act . 2. Public land revenue for Social Security Trust Fund (a) In general Notwithstanding any other law, each fiscal year, 10 percent of amounts collected by the Department of the Interior and the Department of Agriculture from the revenue generated by covered public lands during the preceding fiscal year shall be deposited into the Federal Old-Age and Survivors Trust Fund established under section 201(a) of the Social Security Act ( 42 U.S.C. 401(a) ). (b) Rules of construction Nothing in this Act shall be construed as— (1) authorizing the Secretary of the Interior or the Secretary of Agriculture to raise the price of any of the activities through which revenue is generated on covered public lands; or (2) reducing amounts made available to States, Indian Tribes, territories, or local governments from revenue generated by covered public lands. (c) Covered public lands defined In this Act, the term covered public lands means any land under the administrative jurisdiction— (1) of the Department of the Interior, including submerged lands on the Outer Continental Shelf (as such term is defined in section 2 of the Outer Continental Shelf Lands Act ( 43 U.S.C. 1331 ); or (2) the Forest Service.