LASSO Act

Land And Social Security Optimization Act or the LASSO Act

This bill requires 10% of revenue generated by public lands, including submerged lands on the Outer Continental Shelf, under the jurisdiction of the Department of the Interior and the Forest Service to be deposited into the Federal Old-Age and Survivors Insurance Trust Fund, which is used to pay Social Security benefits to retirees and their families and to survivors of deceased workers.

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 34 Introduced in House (IH)]

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119th CONGRESS
  1st Session
                                 H. R. 34

  To deposit portions of revenue generated from public lands into the 
                      Social Security Trust Fund.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 3, 2025

  Mr. Gosar introduced the following bill; which was referred to the 
  Committee on Natural Resources, and in addition to the Committee on 
Agriculture, for a period to be subsequently determined by the Speaker, 
 in each case for consideration of such provisions as fall within the 
                jurisdiction of the committee concerned

_______________________________________________________________________

                                 A BILL


 
  To deposit portions of revenue generated from public lands into the 
                      Social Security Trust Fund.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Land And Social Security 
Optimization Act'' or ``LASSO Act''.

SEC. 2. PUBLIC LAND REVENUE FOR SOCIAL SECURITY TRUST FUND.

    (a) In General.--Notwithstanding any other law, each fiscal year, 
10 percent of amounts collected by the Department of the Interior and 
the Department of Agriculture from the revenue generated by covered 
public lands during the preceding fiscal year shall be deposited into 
the Federal Old-Age and Survivors Trust Fund established under section 
201(a) of the Social Security Act (42 U.S.C. 401(a)).
    (b) Rules of Construction.--Nothing in this Act shall be construed 
as--
            (1) authorizing the Secretary of the Interior or the 
        Secretary of Agriculture to raise the price of any of the 
        activities through which revenue is generated on covered public 
        lands; or
            (2) reducing amounts made available to States, Indian 
        Tribes, territories, or local governments from revenue 
        generated by covered public lands.
    (c) Covered Public Lands Defined.--In this Act, the term ``covered 
public lands'' means any land under the administrative jurisdiction--
            (1) of the Department of the Interior, including submerged 
        lands on the Outer Continental Shelf (as such term is defined 
        in section 2 of the Outer Continental Shelf Lands Act (43 
        U.S.C. 1331); or
            (2) the Forest Service.
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