A bill to allow for the investment of joint Federal and State funds from the civil settlement of damages from the Exxon Valdez oil spill, and for other purposes.

[AI summary unavailable — showing source text] Provides that, upon the joint motion of the United States and the State of Alaska and the issuance of an appropriate order by the U.S. District Court for the District of Alaska, any portion of the joint trust funds (including interest) received or to be received by the United States and Alaska pursuant to the Agreement and Consent Decree issued in United States v. Exxon Corporation et al. and State of Alaska v. Exxon Corporation et al. may be deposited in the Natural Resource Damage Assessment and Restoration Fund, accounts outside the U.S. Treasury, or both. Sets forth requirements regarding outside accounts. Directs that any interest accrued under the authority in this Act be used only for a peer reviewed grant program consisting of: (1) marine research; (2) monitoring; and (3) restoration, other than habitat acquisition, and additionally for community and economic restoration projects and facilities. Specifies that the trustees shall administer grants authorized by this Act.…