In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Q: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Fair Disbursement of Offshore Oil
Revenue Act of 2001''.

SEC. 2. FINDINGS.

The Congress finds that--
(1) the demand for energy in the United States is
increasing and will continue to increase for the foreseeable
future;
(2) domestic production of oil and gas is declining;
(3) the United States continues to be overly dependent on
foreign sources of oil and gas;
(4) the Outer Continental Shelf contains significant
quantities of oil and gas that should be developed to meet
United States energy needs while safeguarding important
environmental values;
(5) the exploration, development, and production of Outer
Continental Shelf resources, and the siting of related energy
facilities, may impact various State and local governments; and
(6) coastal States and counties should be provided with a
share of the revenues derived from Outer Continental Shelf oil
and gas leasing, exploration, development, and production
activities.

SEC. 3. DEFINITIONS.

For purposes of this Act--
(1) the term ''coastal State'' means any State of the
United States bordering on the Atlantic Ocean, the Pacific
Ocean, the Arctic Ocean, or the Gulf of Mexico;
(2) the term ''coastal county'' means a unit of general
government immediately below the level of State government, as
determined by the Secretary under section 6, with jurisdiction
over lands along the coast line;
(3) the term ''coast line'' has the meaning given such term
under the Submerged Lands Act (43 U.S.C. 1301 et seq.);
(4) the term ''Outer Continental Shelf'' has the meaning
given the term ''outer Continental Shelf'' under the Outer
Continental Shelf Lands Act (43 U.S.C. 1331 et seq.);
(5) the term ''Secretary'' means the Secretary of the
Interior; and
(6) the term ''revenues'' means all bonuses, rents,
royalties, and other moneys collected under the Outer
Continental Shelf Lands Act (43 U.S.C. 1331 et seq.), and
interest thereon.

SEC. 4. COASTAL COMMUNITIES OUTER CONTINENTAL SHELF RECEIPT FUND.

(a) Establishment.--There is established an interest bearing
account in the Treasury of the United States to be known as the Coastal
Communities Outer Continental Shelf Receipt Fund (hereafter in this Act
referred to as ''the Fund'').
(b) Payments to Fund.--Beginning in fiscal year 2002, the Secretary
shall pay into the Fund all revenues described in subsection (c) that
are attributable to an Outer Continental Shelf lease, any part of which
is within 200 geographical miles of the coast line. The Secretary may
adjust amounts in the Fund at any time to account for overpayments,
underpayments, and errors.
(c) New Revenues.--Subsection (b) shall apply only to--
(1) bonus revenues under a lease if no bonus revenues have
been received by the Secretary under that lease before January
1, 2001;
(2) rent revenues under a lease if no rent revenues have
been received by the Secretary under that lease before January
1, 2001;
(3) royalty revenues under a lease if no royalty revenues
have been received by the Secretary under that lease before
January 1, 2001; and
(4) other revenues under a lease if the lease was issued on
or after January 1, 2001.

SEC. 5. DISPOSITION OF FUND.

(a) State Share.--(1) Six months after the end of fiscal year 2002,
and annually thereafter, the Secretary shall pay from the Fund to each
coastal State one-half of such revenues paid into the Fund with respect
to the fiscal year most recently completed, and any interest earned
thereon, as may be attributable to that State.
(2) In order to determine to which State revenues are attributable
for purposes of this Act, the Secretary shall delimit the lateral
boundaries between the coastal States to a point 200 geographic miles
seaward of the coast line. Such boundaries shall be set according to
the following principles, listed in order of the priority of their
application:
(A) Any judicial decrees or interstate compacts delimiting
lateral offshore boundaries between coastal States.
(B) Principles of domestic and international law governing
the delimitation of lateral offshore boundaries.
(C) The desirability of following existing lease boundaries
and block lines on the Secretary's official protraction
diagrams.
(3) Each coastal State, before receiving funds under this
subsection, shall annually enact the necessary legislation to provide
any State permits required for onshore facilities needed to support
offshore oil or gas development or production in the area adjacent to
that coastal State. If a State fails to enact such legislation, the
funds attributable to that State shall not be disbursed, and the
Secretary shall take into consideration that failure before offering
any additional leases for sale in the offshore area adjacent to that
State.
(b) Coastal County Share.--(1) At the same time that the Secretary
pays revenues to coastal States under subsection (a), the Secretary
shall pay to coastal counties within that State the remaining one-half
of the revenues, and any interest earned on those revenues, in the Fund
for that fiscal year attributable to that State.
(2) In order to determine to which coastal county revenues are
attributable for purposes of this Act, the Secretary shall delimit the
lateral boundaries between the coastal counties to a point 200
geographic miles seaward of the coast line. Such boundaries shall be
set according to the following principles, listed in order of the
priority of their application:
(A) Existing boundaries between coastal counties with valid
supporting legal authority.
(B) The desirability of following existing lease boundaries
and block lines on the Secretary's official protraction
diagrams.
(C) The principle that, to the extent consistent with
subparagraphs (A) and (B), the size of the coastal county's
adjacent offshore area, as a percentage of all of that State's
adjacent offshore areas, shall be based on a formula giving
equal weight to--
(i) the coastal county's coast line as a percentage
of the State's coast line, calculated using the same
large-scale charts of the National Ocean Service that
are used to delimit the territorial sea under
international law; and
(ii) the coastal county's population as a
percentage of the population of all coastal counties in
the State, calculated by the Secretary using the best
available national census data.
(3) Each coastal county, before receiving funds under this
subsection, shall annually enact by county statute or ordinance the
necessary legislation to provide the local permits required for onshore
facilities needed to support offshore oil or gas development or
production in the area adjacent to that coastal county, and the
necessary legislation to expend such funds. If a county fails to enact
such legislation, the funds attributable to that county shall not be
disbursed, and the Secretary shall take into consideration that failure
before offering any additional leases for sale in the offshore area
adjacent to that county.
(c) Use of Funds by States.--Each coastal State shall use funds
received pursuant to subsection (a)--
(1) to pay for the administrative costs the State incurs in
the leasing and permitting process as specified in the Outer
Continental Shelf Lands Act;
(2) for such environmental and natural resource projects as
the State determines; or
(3) for such educational projects as the State determines.
(d) County Distribution of Funds.--Each coastal county shall
develop a formula to allocate at least two-thirds of the funds received
pursuant to subsection (b) to local communities within its jurisdiction
based on the proximity of these communities to the coast, except that
funds shall be withheld from communities that the Secretary determines
have failed to issue permits required for onshore facilities needed to
support offshore oil or gas development or production in the area
adjacent to that coastal county.

SEC. 6. DESIGNATION OF COASTAL COUNTIES.

For the purposes of this Act, the Secretary, after consultation
with the Governor of each coastal State, shall determine which
counties, parishes, boroughs, tribal governments, or other units of
general government immediately below the level of State government
shall be designated as coastal counties.

SEC. 7. LIMITATIONS ON APPLICABILITY OF BOUNDARIES.

The boundaries and areas delimited under section 5 are solely for
the purposes of this Act.
A:
Fair Disbursement of Offshore Oil Revenue Act of 2001 - Establishes in the Treasury the Coastal Communities Outer Continental Shelf Receipt Fund.Instructs the Secretary of the Interior to: (1) pay into the Fund certain revenues attributable to an Outer Continental Shelf lease, any part of which is within 200 geographical miles of the coast line; and (2) pay annually from the Fund to each coastal State one-half, and its coastal counties the other half, of such revenues as may be attributable to that State.Conditions receipt of such funds upon annual enactment by the affected coastal State and related coastal county of the legislation necessary to provide any permits required for onshore facilities needed to support offshore oil or gas development or production in the pertinent area.Prohibits disbursement of funds to a coastal State or county that fails to enact such legislation. Requires the Secretary to take such failure into consideration before offering additional leases for sale in the offshore area adjacent to such jurisdiction.Requires each State to use such funds for leasing and permitting administrative costs, and for environmental, natural resource, and educational projects.