Outdoor America Conservation Fund Act of 1988

[AI summary unavailable — showing source text] Outdoor America Conservation Fund Act of 1988 - Establishes in the Treasury the Outdoor America Conservation Fund (Fund) which shall consist of revenues from the Outer Continental Shelf Lands Act and a certain amount equal to that credited to the Land and Water Conservation Fund. Requires the Secretary of the Treasury to invest a portion of the Fund in public debt securities bearing interest. Authorizes appropriations. Allocates amounts available for expenditure from the Fund in any fiscal year as follows: (1) at least 30 percent for Federal purposes; (2) at least 30 percent for State purposes; and (3) during the ten-fiscal year period beginning October 1, 1990, at least ten percent for State trusts. Authorizes the Secretary of Commerce and the Secretary of the Interior to provide out of the Fund financial assistance to States for outdoor recreation: (1) planning; (2) acquisitions of land, waters, or interests in land or waters; or (3) development. Requires each State to transfer not less than 50 percent of its grant to local governments and other qualifying recipients. Requires five percent of the funds apportioned to each State to be used only for purposes of projects in which no…