Land and Water Conservation Authorization and Funding Act This bill amends the Land and Water Conservation Fund Act of 1965 to make permanent the authorization for the Land and Water Conservation Fund (LWCF). Funds deposited into the LWCF may be spent without being subject to the appropriations process. These funds are in addition to amounts made available by the Gulf of Mexico Energy Security Act of 2006 or otherwise appropriated from the LWCF. The President shall submit to Congress specified details regarding the allocation of funds provided by this bill. Congress may provide for alternate allocations using specified procedures. At least 1.5% of the annual authorized funds shall be used for projects that secure recreational public access to existing federal public land for hunting, fishing, and other recreational purposes.