Marine Resources Conservation and Development Act

[AI summary unavailable — showing source text] Marine Resources Conservation and Developemnt Act - Provides that all sums paid in connection with any lease on the Outer Continental Shelf up to the day preceding the date of the enactment of this Act shall be deposited in the Treasury of the United States and credited to miscellaneous receipts. States that beginning with the date of the enactment of this Act, all amounts shall be deposited in the Treasury of the United States; and of such amounts which areattributable to that portion of the Outer Continental Shelf adjacent to any State or that portion of the Outer Continental Shelf to which a State by interstate compact has limited itself: (1) 70 per cent shall be paid into a special fund known as the Marine Resources Conservation and Development Fund for use as provided in this Act; and (2) 30 per cent shall be paid to such adjacent State, to be used for conservation purposes. Provides that the Marine Resources Conservation and Development Fund shall be available for marine resources conservation and development programs and costs of administration. Directs the Secretary of Interior to: (1) establish an Advisory Board to assist him in carrying out his functions under this Act; a…