A bill relating to the disposition of certain recreational demonstration project lands by the State of Oklahoma.

(Measure passed House, amended, in lieu of H.R. 4691)

Authorizes the State of Oklahoma to convey oil and gas mineral leases to those lands situated within the project designated as the Lake Murray Recreational Demonstration Area in Carter County, Oklahoma. Directs the State of Oklahoma to surrender the present deed and the United States to issue a new deed to the State of Oklahoma for such lands, which deed shall include oil and gas exploration and development as permitted uses, conditioned on approval of development plans by the Secretary of the Interior and assurances that such development will preserve the natural, scenic, and recreational values of the Demonstration Area to the maximum extent possible. Requires the State of Oklahoma to pay to the Secretary 50 percent of all of the gross proceeds received from oil and gas development on the lands subsequent to the issuance of the deed. Directs the Secretary to deposit such moneys paid into the general fund of the Treasury as miscellaneous receipts.