S.Amdt. 3232

SA 3232. Mr. MARKEY (for himself and Mr. Menendez) submitted an
amendment intended to be proposed by him to the bill S. 2012, to
provide for the modernization of the energy policy of the United
States, and for other purposes; which was ordered to lie on the table;
as follows:

At the appropriate place, insert the following:

SEC. ____. DISPOSITION OF QUALIFIED OUTER CONTINENTAL SHELF
REVENUES FROM 181 AREA, 181 SOUTH AREA, AND
2002-2007 PLANNING AREAS OF GULF OF MEXICO.

Section 105 of the Gulf of Mexico Energy Security Act of
2006 (43 U.S.C. 1331 note) is amended to read as follows:

``SEC. 105. DISPOSITION OF QUALIFIED OUTER CONTINENTAL SHELF
REVENUES FROM 181 AREA, 181 SOUTH AREA, AND
2002-2007 PLANNING AREAS OF GULF OF MEXICO.

``Notwithstanding section 9 of the Outer Continental Shelf
Lands Act (43 U.S.C. 1338) and subject to the other
provisions of this section, for each applicable fiscal year,
the Secretary of the Treasury shall deposit--
``(1) 87.5 percent of qualified outer Continental Shelf
revenues in the general fund of the Treasury; and
``(2) 12.5 percent of qualified outer Continental Shelf
revenues in a special account in the Land and Water
Conservation Fund established under section 200302 of title
54, United States Code, from which the Secretary shall
disburse, without further appropriation, 100 percent to
provide financial assistance to States in accordance with
section 200305 of that title, which shall be considered
income to the Land and Water Conservation Fund for purposes
of section 200302 of that title.''.
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