A bill to amend the Mineral Leasing Act of 1920 to provide for the disposition of certain revenues.

Amends the Mineral Leasing Act of 1920 to provide that beginning with fiscal year 1983, the balance of money received from sales and rentals of public land shall be credited to a Payment in Lieu of Taxes Trust Fund which shall be established in the U.S. Treasury. States that such money shall be available, subject to appropriation, only for purposes of making payments to local governments for entitlement lands.