Land and Water Conservation Fund Investment Act - Requires deposit into a special account in the Treasury of 50% of bonuses, rentals, royalties, and other sums due and payable to the United States from leases in the 181 Area (in a specified map in the Proposed Final Outer Continental Shelf Oil and Gas Leasing Program for 1997-2002 of the Minerals Management Service).

Requires such funds to be made available for financial assistance to states, in accordance with the Land and Water Conservation Fund Act of 1965, for outdoor recreation: (1) planning, (2) acquisition of land, waters, or interests in land or waters, or (3) development.