A bill to amend section 21 of the Act of February 25, 1920, commonly known as the Mineral leasing Act.

Revises provisions under the Mineral Leasing Act of 1920 relating to oil shale leasing.

Authorizes the Secretary of the Interior to lease to any qualified person or corporation any deposits of oil shale and gilsonite on Federal lands. Limits leases to a maximum of 5,120 acres, unless a lease of that size is too small to permit economically viable operations, in which case the Secretary may increase the acreage to 15,360 acres after: (1) considering the reserve potential of the tract; (2) determining that additional acreage is necessary to have an economically viable commercial operation; and (3) documenting the basis for the increased acreage. Authorizes a lessee to acquire one additional lease in any State when it has achieved production in commercial quantities from an existing lease and it is within 15 years of exhausting the commercially recoverable reserves on the existing lease. Prohibits, with respect to gilsonite leases, any person, association, or corporation from acquiring more than 6,680 acres in any State without respect to the number of leases.

Authorizes the issuance of a lease under the multiple use principle notwithstanding the existence of an outstanding lease issued under any other provision of the Act with respect to gilsonite.

Authorizes the mining of other mineral deposits under an oil shale lease if such other deposits are: (1) intermingled with oil shale deposits; or (2) unlikely to be recovered except in conjunction with the oil shale deposits.

Authorizes the Secretary to lease additional lands necessary for support operations, including: (1) oil shale waste disposal; and (2) building of facilities.

Authorizes the Secretary to issue an oil shale lease upon a determination that the public interest will be served and after considering: (1) the need for the lease; (2) impacts on the environment and other resource values; (3) socioeconomic factors; and (4) information from consultations with the Governor of the State in which the land is located.

Revises provisions relating to combined interests in leases. Prohibits any person, association, or corporation from holding or owning (as a member or stockholder of another association or corporation) more than the maximum number of oil shale leases or acreage for any kind of minerals allowed to any one person, association, or corporation, unless such ownership is less than ten percent.