Sec. 102. Distribution of funds
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Title II of the Oregon and California Land Grant Act ( 43 U.S.C. 1181f ) is amended to read as follows: Effective for fiscal year 2014 and each fiscal year thereafter, all funds deposited in the Treasury in the special fund designated the Oregon and California Railroad Land-Grant Fund shall be distributed annually in accordance with this section. Subject to subsection (d)(4)(C), as soon as practicable after the end of each fiscal year described in subsection (a), $4,000,000 of all amounts received for the applicable fiscal year by the Secretary from the covered land shall be transferred to the general fund of the Treasury. Subject to paragraph
(2)and subsection (d)(4)(C), all amounts received for the applicable fiscal year by the Secretary from the covered land shall be used to pay for the management and administrative expenses for, and capital improvement costs on, covered land. The amount of revenue that is used to pay for expenses and costs for a fiscal year under paragraph
(1)shall not exceed— 25 percent of all amounts received for the applicable fiscal year by the Secretary from the covered land during the fiscal year; or $20,000,000. All amounts received for the applicable fiscal year by the Secretary from the covered land during a fiscal year that is in excess of the amount necessary to carry out subsections
(b)and
(c)shall be provided to the counties that contain covered land (referred to in this subsection as a covered county ) in the form of annual payments. Payments shall be made available to covered counties under this subsection as soon as practicable following the end of each fiscal year. Payments made to covered counties under this subsection shall be used as other county funds. Subject to subparagraphs
(B)and (C), for each fiscal year described in subsection (a), the amount of payments allocated under this subsection to each covered county for a fiscal year shall be equal to the ratio that— the assessed value of covered land in the covered county for fiscal year 1915; bears to the assessed value of covered land in all covered counties for fiscal year 1915. For purposes of subparagraph (A), the portion of the covered lands in each of the covered counties that was not assessed for fiscal year 1915 shall be considered to have been assessed at the average assessed value of the covered land in the covered county. Subject to clauses
(ii)and (iii), the annual payment paid to a covered county under this subsection, to the extent practicable, shall not be less than the payment that the covered county would have received solely under this Act for fiscal year 2013 if the covered county had elected to receive payment under this Act and not under any other law. If the portion of revenues to be provided to a covered county for a fiscal year is less than the amount described in clause (i), the payment made to the Treasury for the fiscal year under subsection
(b)shall be reduced by an amount necessary to provide the minimum payments required under clause
(i)for the covered county. If the minimum payments required under clause
(i)could not be made to all covered counties after the payment made to the Treasury is reduced under clause (ii), the payment made for administrative expenses for the fiscal year under subsection
(c)shall be reduced by an amount necessary to provide the minimum payments required under clause
(i)for all covered counties. . The amendment made by subsection
(a)takes effect on October 1, 2013.
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Sec. 102
Distribution of funds
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