A bill to authorize the issuance of United States conservation savings bonds in order to afford an opportunity for the people of the United States, through the purchase of such bonds, to participate in the financing of programs to conserve and improve the Nation's environment.

Authorizes the Secretary of the Treasury to issue, from time to time, United States conservation savings bonds, the proceeds of which shall be deposited in a trust fund. Asserts that conservation savings bonds shall bear such rates of interest; shall be in such form; shall be offered in such amounts, subject to the overall debt limitation; shall be issued in such manner; and shall be subject to such terms and conditions, including any restrictions on their transfer, as the Secretary of the Treasury may from time to time prescribe.

Creates within the Treasury of the United States a conservation saving bond trust fund. Provides that all proceeds from the sale of conservation savings bonds shall be deposited in the fund. Directs that amounts in the fund are authorized to be appropriated without fiscal year limitation for expenditures for conservation purposes.