790 



64 



retary shall establish regulations to assure that funds authorized by 

 this subsection for grants to States shall be expended by the States for 

 the purpose of reducing or ameliorating adverse impacts resulting 

 from the exploration for, or the development or production of, energy 

 resources or resulting from the location, construction, expansion or 

 operation of a related energy facility. Such funds not so expended 

 shall be returned to the Treasury. There are authorized to be appropri- 

 ated for this purpose sufficient funds to provide such States with 

 grants in the amount of 20 cents per barrel during the first year, 15 

 cents per barrel during the second year, 10 cents per barrel during the 

 fhird year, and 8 cents per barrel during the fourth and all succeeding 

 years during which oil or gas is landed in such a State or produced on 

 Outer Continental Shelf lands adjacent to such a State: Provided^ 

 That (A) such funds shall not exceed $50,000,000 for the fiscal year 

 ending June 30, 1976 ; $12,500,000 for the fiscal quarter ending Sep- 

 tember 30, 1976 ; $50,000,000 for the fiscal year ending September 30, 

 1977; and $50,000,000 for the fiscal year ending September 30, 1978; 

 and (B) such funds shall be limited to payments for the first million 

 barrels of oil (or its gas equivalent) per day per State for the 10 suc- 

 ceeding fiscal years. The amount of such grant to each such State in any 

 given year shall be calculated on the basis of the previous year's volume 

 of oil or natural gas landed in the State or produced adjacent to the 

 State. Such grants shall initially be designated by each receiving State 

 to retire State and local bonds which are guaranteed under section 316 

 of this Act : Provided^ That, if the amount of such grants is insufficient 

 to retire both State and local bonds, priority shall be given to retiring 

 local bonds. 



" (1) There are hereby authorized to be appropriated to the Coastal 

 Energy Facility Impact Fund such sums not to exceed $250,000,000 

 for the fiscal year ending June 30, 1976, not to exceed $75,000,000 for 

 the transitional fiscal quarter ending September 30, 1976, not to exceed 

 $250,000,000 for the fiscal year ending September 30, 1977, and not to 

 exceed $250,000,000 for the fiscal year ending September 30, 1978, as 

 may be necessary, for grants and/or loans under this section, to re- 

 main available until expended. No more than 20 percent of the total 

 amount appropriated to such fund for a particular fiscal year, not 

 to exceed $50,000,000 per year, shall be used for the purposes set forth 

 in subsection (a) of this section. 



"interstate coordination grants to states 



"Si;c. 309. (a) The States are encouraged to give high priority (1) 

 to coordinating State coastal zone planning, policies, and programs 

 in contiguous interstate areas, and (2) to studying, planning, and/or 

 implementing unified coastal zone policies in such areas. The States 

 may conduct such coordination, study, planning, and implementation 

 through interstate agreement or compacts. The Secretary is authorized 

 to make annual grants to the coastal States, not to exceed 90 percent 

 of the cost of such coordination, study, planning, or implementation, 

 if the Secretary finds that each coastal State receiving a grant under 

 this section will use such grants for purposes consistent with the pro- 

 visions of sections 305 and 306 of this title. 



