The bill changes the laws regarding the formation of a federal mineral lease district, including changes to the district's and district board of director's powers, in order for the district to be more autonomous from the county creating the district. The bill specifies that a federal mineral lease district is an independent body politic, separate and distinct from the county that creates it. Powers of the district and the board of directors are further enumerated. The bill also establishes how a district may be dissolved and clarifies the membership and terms of the board of directors. The bill specifies that the district may reserve all or a portion of the federal mineral lease funding for use in subsequent years in order to maximize the usefulness of the direct or indirect distribution of funding for the areas socially or economically impacted by the development, processing, or energy conversion of fuels and minerals leased under a federal act.