Continental Scientific Drilling and Exploration Act

(Measure passed House, amended)

Continental Scientific Drilling and Exploration Act - Directs the Secretary of Energy, the Secretary of the Interior, through the United States Geological Survey, and the Director of the National Science Foundation to implement the policies of the proposed Continental Scientific Drilling Program of the United States relating to earth science research and technological development. Prescribes guidelines for such implementation, including: (1) taking action to assure an effective cooperative effort in furtherance of the Program; (2) taking administrative and financial measures to assure the effective functioning of the Interagency Accord on Continental Scientific Drilling; (3) assuring the continuing operation of the Interagency Coordinating Group; and (4) assuring that the Interagency Coordinating Group receives appropriate Federal agency cooperation. Requires a report to the Congress within 180 days of enactment describing: (1) policy objectives; (2) projected schedules of scientific and engineering events that would advance Program objectives; (3) resources and funding levels for FY 1989 that would be required by each participating Federal agency to implement projected schedules of events and Program policy objectives; and (4) cooperation with the international community.

Requires the Interagency Coordinating Group to submit annually the resources and funding levels needed for the next fiscal year (beginning one year after submission of the policy objectives report).