An Act to amend the Land and Water Conservation Fund Act of 1965, as amended, to establish the National Historic Preservation Fund, and for other purposes.

=Title I: Land and Water Conservation Fund= - Provides, under the Land and Water Conservation Fund Act, for an increase in the sum authorized to be appropriated for the Land and Water Conservation Fund in the Department of the Treasury. Sets such an increased sum at not less than $300,000,000 for fiscal year 1977, $600,000,000 for fiscal year 1978, $750,000,000 for fiscal year 1979, and $900,000,000 for each fiscal year thereafter through 1989.

Stipulates that to the extent that the sums appropriated do not make the fund's annual income equivalent to the amounts required under such Act, an amount sufficient to cover the remainder thereof shall be credited to the fund from revenues due and payable to the United States for deposits in the Treasury as miscellaneous receipts under the Outer Continental Shelf Lands Act.

Allows States to use funds allocated under the Land and Water Conservation Fund Act for development of basic outdoor recreation facilities, provided that not more than ten percent of a State's total allocation in a year may be approved for the planning and development of sheltered facilities for swimming pools and ice skating rinks.

Provides for the allotment by the President of land and water conservation funds for the acquisition of lands, waters, or interests in lands or waters for the National Park System, the National Forest System, and the National Wildlife Refuge System.

Directs the Secretary of the Interior, within one year of enactment of these provisions, to submit to the Committees on Interior and Insular Affairs of the Senate and House Representatives a report on the needs, problems, and opportunities associated with urban recreation.

=Title II: National Historic Preservation Fund= - Enumerates regulations governing national historical grants under the National Historic Preservation Act. States that any grant pursuant to such 70 percent of the cost of a project.

Establishes the National Historic Preservation Fund in the Treasury of the United States to carry out purposes of this title. Authorizes to be paid into such fund from revenues due and payable to the United States under the Outer Continental Shelf Lands Act specified sums in fiscal years 1977 through 1981.

Increases the number of members of the Advisory Council on Historic Preservation. Adds an executive director and a general counsel to such Council. Authorizes appropriations to carry out the provisions of this title as follows: $1,500,000 for fiscal year 1977; $1,750,000 for fiscal year 1978; and $2,000,000 for fiscal year 1979.

=Title III=: States Oil Shale Funds - Provides that all moneys paid to any State from sales, bonuses, royalties, and rentals of oil shale in public lands may be used by such State and its subdivisions for planning, construction, and maintenance of public facilities, and provision of public services, as the legislature of the State may direct, giving priority to those State subdivisions socially or economically impacted by the development of the resource.