Deep Seabed Resource Development Act

[AI summary unavailable — showing source text] Deep Seabed Resource Development Act - Title I: Short Title, Declaration of Policy and Purposes, and Definitions - Declares it the purpose of this Act to encourage the development of an international regime to govern the use of the oceans and their resources. Title II: Federal Coordination, Planning, and Regulation of Deep Seabed Resource Development - Details the responsibilities of the President and the Secretary of Commerce in the planning and coordination of Federal activities relating to deep seabed resource development. Stipulates that only those enterprises registered with the Secretary shall engage in deep seabed resource development under this Act. Title III: Deep Seabed Resource Development Enterprise - Details requirements to be met by applicants for the formation of qualified enterprises to be approved by the Secretary of Commerce. Title IV: Deep Seabed Resource Development Revenue Sharing Fund - Directs the Secretary of the Treasury to establish a Deep Seabed Resource Development Revenue Sharing Fund in the Treasury of the United States. Stipulates that the Fund shall consist of a share of the profits of registered enterprises and a sum equal to a percentage of the val…