,,ii  #aadth ,,congress  #b;d ,session  
,s4 #caej  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,july #g1 #bjaf
 ,mr4 ,markey introduced the following  
bill2 which was read twice and referred 
to the ,committee on ,energy and        
,natural ,resources  ,a ,,bill  ,to use 
certain revenues from the outer         
,continental ,shelf to reduce the       
,federal budget deficit4  #a4 ,short    
title ,this ,act may be cited as the    
,oil and ,gas ,payments ,taxpayer       
,protection and ,deficit ,reduction     
,act4  #b4 ,disposition of qualified    
outer ,continental ,shelf revenues from 
#aha ,area1 #aha ,south ,area1 and      
#bjjb-bjjg planning areas of ,gulf of   
,mexico ,section #aje of the ,gulf of   
,mexico ,energy ,security ,act of #bjjf 
7#dc ,u4,s4,c4 #acca note7 is amended to
 read as follows3  #aje4 ,disposition of
 qualified outer continental shelf      
revenues from #aha ,area1 #aha ,south   
,area1 and #bjjb-bjjg planning areas of 
,gulf of ,mexico  7a7 ,in general       

,notwithstanding section #i of the      
,outer ,continental ,shelf ,lands ,act  
7#dc ,u4,s4,c4 #acch7 and subject to the
 other provisions of this section1 for  
each applicable fiscal year1 the        
,secretary of the ,treasury shall       
deposit--  7#a7 #ej percent of qualified
 outer ,continental ,shelf revenues in  
the general fund of the ,treasury2 and  
7#b7 #ej percent of qualified outer     
,continental ,shelf revenues in a       
special account in the ,treasury1 of    
which--  7,a7 #ge percent shall be used 
for ,federal budget deficit reduction   
or1 if there is no ,federal budget      
deficit1 for reducing the ,federal debt 
in such manner as the ,secretary of the 
,treasury considers appropriate2 and    
7,b7 #be percent shall be deposited in a
 special account in the ,land and ,water
 ,conservation ,fund established under  
section #bjjcjb of title #ed1 ,united   
,states ,code1 from which the ,secretary
 shall disburse1 without further        
appropriation1 #ajj percent to provide  

financial assistance to ,states in      
accordance with section #bjjcje of that 
title1 which shall be considered income 
to the ,land and ,water ,conservation   
,fund for purposes of section #bjjcjb of
 that title4  7b7 ,limitations on amount
 of distributed qualified outer         
,continental ,shelf revenues  7#a7 ,in  
general ,subject to paragraph 7#b71 the 
total amount of qualified outer         
,continental ,shelf revenues made       
available under subsection 7a77#b7 shall
 not exceed #ejj1jjj1jjj for each of    
fiscal years #bjaf through #bjee4  7#b7 
,expenditures ,for the purpose of       
paragraph 7#a71 for each of fiscal years
 #bjaf through #bjee1 expenditures under
 subsection 7a77#b7 shall be net of     
receipts from that fiscal year from any 
area in the #aha ,area in the ,eastern  
,planning ,area and the #aha ,south     
,area4  7#c7 ,pro rata reductions ,if   
paragraph 7#a7 limits the amount of     
qualified outer ,continental ,shelf     
revenues that would be paid under       

subparagraphs 7,a7 and 7,b7 of          
subsection 7a77#b7--  7,a7 the          
,secretary shall reduce the amount of   
qualified outer ,continental ,shelf     
revenues provided to each recipient on a
 pro rata basis2 and  7,b7 any remainder
 of the qualified outer ,continental    
,shelf revenues shall revert to the     
general fund of the ,treasury4  4