H.R.6758: To direct the Secretary of the Interior to promptly commence an oil and gas leasing program for public lands within the Coastal Plain of Alaska, and for other purposes.

To direct the Secretary of the Interior to promptly commence an oil and gas leasing program for public lands within the Coastal Plain of Alaska, and for other purposes. 7/31/2008--Introduced. Furthering Renewable Energy and Exploration Act or the FREE Act - Directs the Secretary of the Interior to commence promptly an oil and gas leasing program for public lands within the Coastal Plain of Alaska. Establishes in the Treasury the Energy Independence Trust Fund, into which shall be deposited: (1) rental payments and royalties received by the United States each fiscal year under leases issued under such program; and (2) federal income tax received by the United States each fiscal year attributable to sales of oil and gas produced under such leases. Requires payment of the amounts deposited into the Fund each fiscal year of: (1) 50% to the state of Alaska; and (2) the remainder to the Secretary of Agriculture, half to provide business and industry loan guarantees [...]

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