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U.S. Code as of:
01/19/04
Section 701c-3. Lease receipts; payment of portion to States
75 per centum of all moneys received and deposited in the
Treasury of the United States during any fiscal year on account of
the leasing of lands acquired by the United States for flood
control, navigation, and allied purposes, including the development
of hydroelectric power, shall be paid at the end of such year by
the Secretary of the Treasury to the State in which such property
is situated, to be expended as the State legislature may prescribe
for the benefit of public schools and public roads of the county,
or counties, in which such property is situated, or for defraying
any of the expenses of county government in such county or
counties, including public obligations of levee and drainage
districts for flood control and drainage improvements: Provided,
That when such property is situated in more than one State or
county, the distributive share to each from the proceeds of such
property shall be proportional to its area therein. For the
purposes of this section, the term "money" includes, but is not
limited to, such bonuses, royalties and rentals (and any interest
or other charge paid to the United States by reason of the late
payment of any royalty, rent, bonus or other amount due to the
United States) paid to the United States from a mineral lease
issued under the authority of the Mineral Leasing Act for Acquired
Lands [30 U.S.C. 351 et seq.] or paid to the United States from a
mineral lease in existence at the time of the acquisition of the
land by the United States.
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