Outer Continental Shelf Impact Reimbursement Act

[AI summary unavailable — showing source text] Outer Continental Shelf Impact Reimbursement Act - Title I: Findings and Purposes - Declares it to be the finding of Congress that coastal States, although they furnish governmental and other services to industries engaged in the exploitation of mineral deposits in the seabed adjacent to the State, receive no share of the revenue produced. Declares it to be the purpose of this Act to provide States which are impacted by Outer Continental Shelf mineral industries, with equitable reimbursement for State services. Title II: Definitions - Defines, under the Outer Continental Shelf Lands Act, additional terms introduced by this Act. Title III: Equitable Allocation and Distribution of Outer Continental Shelf Resources as Compensation for Net Adverse Budgetary Impact of Offshore Development - Provides, under the Outer Continental Shelf Lands Act, for the disbursement of funds collected pursuant to this Act, to the Treasury of the United States, to the Local Government Fiscal Assistance Trust Fund, and to the Coastal State Impact Assistance Trust Fund. Establishes the Coastal State Impact Assistance Trust Fund from which funds will be distributed to States to be used to counter the adverse…