Section 1 Short title
This Act may be cited as the “Land And Social Security Optimization Act” or “LASSO Act”.
Land And Social Security Optimization Act
A BILL
To deposit portions of revenue generated from public lands into the Social Security Trust Fund.
Sec. 2 Public land revenue for Social Security Trust Fund
In general— Notwithstanding any other law, each fiscal year, 10 percent of amounts collected by the Department of the Interior and the Department of Agriculture from the revenue generated by covered public lands during the preceding fiscal year shall be deposited into the Federal Old-Age and Survivors Trust Fund established under section 201(a) of the Social Security Act (42 U.S.C. 401(a)).
Rules of construction— Nothing in this Act shall be construed as—
authorizing the Secretary of the Interior or the Secretary of Agriculture to raise the price of any of the activities through which revenue is generated on covered public lands; or
reducing amounts made available to States, Indian Tribes, territories, or local governments from revenue generated by covered public lands.
Covered public lands defined— In this Act, the term covered public lands means any land under the administrative jurisdiction—
of the Department of the Interior, including submerged lands on the Outer Continental Shelf (as such term is defined in section 2 of the Outer Continental Shelf Lands Act (43 U.S.C. 1331); or
the Forest Service.