A bill to amend section 317 (c)(1) of the Federal Land Policy and Management Act of 1976 to conform the interest rate therein to the yield on certain United States obligations, and for other purposes.

Changes the interest rate of loans made to States and localities to alleviate the economic and social impacts of mineral development and leasing activities under the Federal Land Policy and Management Act of 1976 from three percent to a rate to be determined by the Secretary of the Treasury, taking into consideration the current average market yield on outstanding marketable obligations of the United States.

Places additional conditions on loans made under such Act.