A bill to amend the Outer Continental Shelf Lands Act, to establish a National Marine Resources Trust, and for other purposes.

Establishes in the Department of the Interior an Advisory Committee on the Marine Environment, appointed by the Secretary of the Interior with the concurrence of the Council on Environmental Quality, comprised of eleven member who shall be qualified by training and experience to advise the Secretary of the Interior in the management and protection of the marine environment of the United States.

Provides that the Secretary of the Interior, in regular consultation with such Committee, shall conduct comprehensive programs, investigations and studies concerning the marine environment.

Directs the Secretary to establish, by regulation in the Department of the Interior, an Inter-Agency Committee on Marine Resources Management to assist the Secretary in the development of management plans for the management and protection of the marine environment.

Directs the Secretary to develop and implement a management plan for any area identified as being susceptible of potential environmental damage.

Provides that the oil, gas, sulphur, and all other mineral resources of the Outer Continental Shelf which are unleased on the date of enactment of this Act are designated as the National Marine Mineral Resources Trust and shall be held in an unleased status until the Secretary, with the concurrence of the Council on Environmental Quality, determines: (1) that there are technological, managerial, and other means adequate to prevent damage to the marine environment resulting from exploration, extraction and transportation of marine mineral resources; (2) that ecologically sensitive areas of the marine environment will be identified and permanently preserved; and (3) that there is a national requirement for these resources which cannot be satisfied, consistent with the requirements of national security, by any other practicable means.

Provides that in no event shall any submerged lands of the Outer Continental Shelf be leased except in strict compliance with a management plan developed, approved, and implemented in accordance with this Act.

Establishes procedures to be followed in the development of management plans, including inventories, investigations and studies of the marine environment.