LASSO Act

This bill, titled the "Land And Social Security Optimization Act" or "LASSO Act" , proposes to deposit a portion of revenue generated from public lands into the Social Security Trust Fund. Specifically, it mandates that 10 percent of annual revenues collected by the Department of the Interior and the Department of Agriculture from "covered public lands" be transferred to the Federal Old-Age and Survivors Trust Fund. These "covered public lands" encompass those under the administrative jurisdiction of the Department of the Interior, including the Outer Continental Shelf, and lands managed by the Forest Service. The legislation includes important rules of construction, clarifying that it does not authorize price increases for public land activities. Furthermore, it explicitly ensures that the new deposits will not reduce existing revenue distributions to States, Indian Tribes, territories, or local governments, thereby protecting their current funding streams.