A bill to amend the Land and Water Conservation Fund Act of 1965, as amended, to establish the National Historic Preservation Fund.

[AI summary unavailable — showing source text] Increases the authorized annual ceiling for the Land and Water Conservation fund from $300 million to $750 million. Specifies that of this amount, two-thirds will be available for the present purposes of the Fund. Makes $250 million annually available to the Senate out of the fund on a 30 percent State and 70 percent Federal match basis. States that such moneys would be used for: (1) the acquisition of urban area land that has value for park and recreation purposes, for conservation of land and other natural resources, and for historic, architectural or scenic purposes; and (2) the acquisition by the States of fragile or historic lands where uncontrolled or incompatible and geological formations, significant could result in substantial damage to such lands, including shorelands, rare or valuable ecosystems, wildlife habitats, wilderness areas and wetlands. Creates a National Historic Preservation Fund to meet the funding needs of the National Historic Preservation Act of 1966, to derive its revenues from the sale of resources under the Mineral Leasing Act of 1920, and the Outer Continental Shelf Lands Act. Provides up to $150 million annually to match State preservation expenditure…