Bill summaries are authored by CRS.

Shown Here:
Reported to Senate amended (11/13/1991)

Amends Federal law to increase the Federal payments in lieu of taxes to units of local government for entitlement land. Requires the Secretary of the Interior, on October 1, 1992, and each October 1 thereafter, to adjust such payments by the rate of inflation according to the Consumer Price Index for the 12 months ending the preceding June 30.

Allows Federal payment in lieu of taxes on those lands conveyed to the United States in exchange for Federal lands which were exempt from real estate taxes at the time of such conveyance.