; and (ii) 25 percent to States in accordance with paragraph (3). (C) Phase III With respect to qualified revenues under leases awarded under the third leasing program approved under section 18(a) that takes effect after the date of the enactment of this section and under any such leasing program subsequent to such third leasing program, the Secretary of the Treasury shall deposit or allocate, as applicable— (i) 50 percent into the general fund of the Treasury; and (ii) 50 percent into a special account in the Treasury from which the Secretary of the Treasury shall disburse— (I) 75 percent to States in accordance with paragraph (3); and (II) 25 percent to the Secretary of the Interior for units of the National Park System. (3) Allocation to producing States (A) In general Subject to subparagraphs (B) and (C), the Secretary of the Treasury shall allocate the qualified revenues distributed to States under paragraph (2) to each producing State in an amount based on a formula established by the Secretary of the Interior, by regulation, that— (i) is inversely proportional to the respective distances between— (I) the point on the coastline of the producing State that is closest to the geographical center of the applicable leased tract; and (II) the geographical center of that leased tract; (ii) does not allocate qualified revenues to any producing State that is further than 200 nautical miles from the leased tract