WASHINGTON, DC – November 24, 2015 – (RealEstateRama) — U.S. Senator John Barrasso (R-WY) introduced legislation (S. 2318) this week to reauthorize the Land and Water Conservation Fund (LWCF) for 10 years and reestablish fair and equitable funding for states. The bill specifically returns to the original 1965 funding allocation split between state (60 percent) and federal (40 percent) purposes, resulting in more opportunities for citizens to enjoy a healthy lifestyle in their local communities.
The Land and Water Conservation Fund (LWCF) expired on Sept. 30, 2015. The original 1965 LWCF law authorized offshore oil and gas royalties to be split 60 percent for state purposes and 40 percent for federal purposes.
By returning to the original intent of the law, states and local governments can provide close-to-home recreational opportunities to strengthen the health and vitality of American citizens. The matching fund requirement also means states will be able to further leverage the 60 percent allocation into more recreation and conservation projects.
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