(a)
In General— If the Alaska Mental Health Trust offers to convey to the Secretary all right, title, and interest of the Alaska Mental Health Trust in and to the non-Federal land—
(1)
the Secretary, on completion of the environmental reviews described in subsection (b), shall convey to the Alaska Mental Health Trust all right, title, and interest of the United States in and to the Federal land; and
(2)
the Alaska Mental Health Trust, on receipt of title to the Federal land under paragraph (1), shall convey to the Secretary all right, title, and interest of the Alaska Mental Health Trust in and to the non-Federal land, subject to subsection (c).
(b)
Compliance with Applicable Law— Before carrying out the land exchange under subsection (a), the Secretary shall complete any necessary land surveys and required pre-exchange clearances, reviews, mitigation activities, and approvals relating to—
(1)
threatened and endangered species;
(2)
cultural and historic resources;
(3)
wetland and floodplains; and
(c)
Conditions on Acceptance— Title to any non-Federal land conveyed by the Alaska Mental Health Trust to the Secretary under subsection (a)(2) shall be in a form that—
(1)
is acceptable to the Secretary, in the case of non-Federal land to be administered by the Forest Service; and
(2)
conforms to the title approval standards of the Attorney General applicable to land acquisitions by the Federal Government.
(d)
Appraisals—
(1)
In General— As soon as practicable after the date of enactment of this Act, the Secretary and the Alaska Mental Health Trust shall select an appraiser to conduct appraisals of the Federal land and non-Federal land.
(2)
Requirements—
(A)
In General— Except as provided in subparagraph (B), an appraisal required under this subsection shall be conducted in accordance with national recognized appraisal standards, including—
(i)
the Uniform Appraisal Standards for Federal Land Acquisitions; and
(ii)
the Uniform Standards of Professional Appraisal Practice.
(B)
Final Appraised Value—
(i)
In general— During the 3-year period beginning on the date on which the final appraised values of the Federal land and non-Federal land are approved by the Secretary, the Secretary shall not be required to reappraise or update the final appraised values of the Federal land and non-Federal land.
(ii)
Exchange agreement— After the date on which an exchange agreement is entered into by the Alaska Mental Health Trust and the Secretary in accordance with section 254.14 of title 36, Code of Federal Regulations (or a successor regulation), no reappraisal or updates to the final appraised values of the Federal land and non-Federal land approved by the Secretary shall be required.
(3)
Public review— Before carrying out the land exchange under subsection (a), the Secretary shall make the appraisals of the Federal land and non-Federal land available for public review.
(e)
Equal Value Land Exchange—
(1)
In General— The value of the Federal land and non-Federal land to be exchanged under subsection (a) shall—
(B)
be equalized in accordance with this subsection.
(2)
Surplus of Federal Land Value—
(A)
In General— If the final appraised value of the Federal land exceeds the final appraised value of the non-Federal land, the Alaska Mental Health Trust shall—
(i)
convey additional non-Federal land in the State to the Secretary, consistent with the requirements of this Act;
(ii)
make a cash payment to the United States; or
(iii)
use a combination of the methods described in clauses (i) and (ii), as agreed to by the Alaska Mental Health Trust and the Secretary.
(B)
Amount of Payment— Notwithstanding section 206(b) of the Federal Land Policy and Management Act of 1976 (
43 U.S.C. 1716(b)), the Secretary may accept a payment under subparagraph (A) in excess of 25 percent of the total value of the Federal land or Federal interests conveyed.
(3)
Surplus of Non-Federal Land— If the final appraised value of the non-Federal land exceeds the value of the Federal land, parcels of the non-Federal land may be excluded from the exchange in a quantity sufficient to result in an equal value exchange.
(f)
Costs— As a condition of the exchange of Federal land and non-Federal land authorized under subsection (a), the Alaska Mental Health Trust shall agree to pay, without compensation, all costs that are associated with the exchange.
(g)
Intent of congress— It is the intent of Congress that the land exchange authorized under subsection (a) shall be completed not later than 1 year after the date of enactment of this Act.