A bill to amend section 35 of the Mineral Leasing Act of 1920 with respect to the disposition of the proceeds of sales, bonuses, royalties, and rentals under such Act.

Provides that all moneys received from sales, bonuses, royalties, and rentals of public lands under the provisions of the Mineral Leasing Act shall be paid into the Treasury of the United States, and 90 percent thereof shall be paid by the Secretary of the Treasury as soon as practicable after December 31 and June 30 of each year to the States within the boundaries of which the leased lands or deposits are or were located.