Page:United States Statutes at Large Volume 85.djvu/725

 85

STAT.]

PUBLIC LAW 92-203-DEC. 18, 1971

695

from the royalties, rentals, and bonuses hereafter received by the State (1) a royalty of 2 per centum upon the gross value (as such gross value is determined for royalty purposes under such leases or sales) of such minerals produced or removed from such lands, and (2) 2 per centum of all rentals and bonuses under such leases or sales, excluding bonuses received by the State at the September 1969 sale of minerals from tentatively approved lands and excluding rentals received pursuant to such sale before the date of enactment of this Act. Such payment shall be made within sixty days from the date the revenues are received by the State. (c) Each patent hereafter issued to the State under the Alaska Patents. Statehood Act, including a patent of lands heretofore selected and ^2 Stat. 339. tentatively approved, shall reserve for the benefit of the Natives, and 21 note, ^^^'^' for payment into the Alaska Native Fund, (1) a royalty of 2 per centum upon the gross value (as such gross value is determined for royalty purposes under any disposition by the State) of the minerals thereafter produced or removed from such lands, and (2) 2 per centum of all revenues thereafter derived by the State from rentals and bonuses from the disposition of such minerals. (d) All bonuses, rentals, and royalties received by the United States after the date of enactment of this Act from the disposition by it of such minerals in public lands in Alaska shall be distributed as provided in the Alaska Statehood Act, except that prior to calculating the shares of the State and the United States as set forth in such Act, (1) a royalty of 2 per centum upon the gross value of such minerals produced (as such gross value is determined for royalty purposes under the sale or lease), and (2) 2 per centum of all rentals and bonuses shall be deducted and paid into the Alaska Native Fund. The respective shares of the State and the United States shall be calculated on the remaining balance. (e) The provisions of this section shall be enforceable by the United States for the benefit of the Natives, and in the event of default by the State in making the payments required, in addition to any other remedies provided by law, there shall be deducted annually by the Secretary of the Treasury from any grant-in-aid or from any other sums payable to the State under any provision of Federal law an amount equal to any such underpayment, which amount shall be deposited in the Fund. (f) Revenues received by the United States or the State as com- °^^ ^"'^ ^^^ pensation for estimated drainage of oil or gas shall, for the purposes ''^^^""^^* of this section, be regarded as revenues from the disposition of oil and gas. I n the event the United States or the State elects to take royalties in kind, there shall be paid into the Fund on account thereof an amount equal to the royalties that would have been paid into the Fund under the provisions of this section had the royalty been taken in cash. (g) The payments required by this section shall continue only until ^""'^, payments, $500,000,000 have been paid into the Alaska Native Fund. Thereafter " " " ^ " ° " the provisions of this section shall not apply, and the reservation required in patents under this section shall be of no further force and effect. (h) When computing the final payment into the Fund the respective com^utaHonT^"*" shares of the United States and the State with respect to payments to the F u n d required by this section shall be determined pursuant to this subsection and in the following order: (1) first, from sources identified under subsections (b) and (c) hereof; and (2) then, from sources identified under subsection (d) hereof, (i) The provisions of this section do not apply to mineral revenues received from the Outer Continental Shelf.

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