article: SECTION 1. SHORT TITLE. This Act may be cited as the ``Arapaho-Roosevelt National Forests Land Exchange Act of 2007''. SEC. 2. DEFINITIONS. In this Act: (1) Map.--The term ``map'' means the map entitled ``Eclipse Snow Park Proposed Land Trade Parcels, Figure 1'' and dated September 28, 2007. (2) Grand creek, llc.--The term ``Grand Creek, LLC'' means Grand Creek, LLC, a Colorado limited liability company. (3) Federal land.--The term ``Federal land'' means certain National Forest System land comprising approximately 119.281 acres, that adjoins land owned by Grand Creek, LLC, in Clear Creek County, Colorado, as depicted on the map. (4) Non-federal land.--The term ``non-Federal land'' means certain land comprising approximately 74.623 acres, owned by Grand Creek, LLC, as depicted on the map. (5) National forests.--The term ``National Forests'' means the Arapaho-Roosevelt National Forests in Colorado. (6) Secretary.--The term ``Secretary'' means the Secretary of Agriculture. SEC. 3. LAND EXCHANGE, ARAPAHO-ROOSEVELT NATIONAL FORESTS, COLORADO. (a) Conveyances.-- (1) Conveyance by grand creek, llc.--The land exchange directed by this section shall proceed if, within 30 days after the date of the enactment of this Act, Grand Creek, LLC, offers to convey title acceptable to the United States in and to the non-Federal land. (2) Conveyance by the united states.--After completion of appraisals under subsection (b) and upon receipt of acceptable title to the non-Federal land, the Secretary of Agriculture shall simultaneously convey to Grand Creek, LLC, all right, title, and interest of the United States in and to the Federal land. (b) Appraisals and Equal Value Exchange.-- (1) Appraisals.--The values of the non-Federal land and the Federal land shall be determined by the Secretary through appraisals performed in accordance with the Uniform Appraisal Standards for Federal Land Acquisitions (December 20, 2000) and the Uniform Standards of Professional Appraisal Practice. (2) Surplus of non-federal value.--If the final appraised value, as approved by the Secretary, of the non-Federal lands exceeds the final appraised value, as approved by the Secretary, of the Federal land, the Secretary may equalize the values by-- (A) reducing the acreage of the non-Federal land to be conveyed, as determined appropriate and acceptable by the Secretary and Grand Creek, LLC; (B) making a cash equalization payment to Grand Creek, LLC, including a cash equalization payment in excess of the amount authorized by section 206(b) of the Federal Land Policy and Management Act of 1976 (43 U.S.C. 1716(b)); or (C) a combination of an acreage reduction and a cash equalization payment. (3) Surplus of federal value.--If the value of the Federal land exceeds the value of the non-Federal land, the Secretary may accept a cash equalization payment from Grand Creek, LLC, in such amount as may be necessary to equalize the values of the land to be exchanged, including a cash equalization payment in excess of the amount authorized by section 206(b) of the Federal Land Policy and Management Act of 1976 (43 U.S.C. 1716(b)). (c) Exchange Costs.--As a condition of the land exchange under this section, and in order to expedite the land exchange and to save administrative costs to the United States, the Secretary shall require Grand Creek, LLC, to pay for any necessary land surveys of the non- Federal land or Federal land to be exchanged and the appraisals under subsection (b). (d) Recreational Access.--As a condition of the land exchange under this section, the Secretary shall require Grand Creek, LLC, to enter into an enforceable agreement with the Secretary, of a nature and form satisfactory to the Secretary, to allow public use of land owned by Grand Creek, LLC, as is necessary to provide unimpeded access to St. Mary's Glacier along the route designated ``trail to glacier'' on the map. SEC. 4. BOUNDARY ADJUSTMENT AND MANAGEMENT OF LAND. (a) Boundary Adjustment.--Upon acquisition of the non-Federal land and conveyance of the Federal land under section 3, the Secretary shall adjust the boundary of the National Forests to reflect the land exchange under section 3. (b) Management of Land.--The Secretary shall manage the non-Federal land acquired under section 3 as part of the National Forests, in accordance with laws and regulations applicable to the National Forests.
summary: Arapaho-Roosevelt National Forests Land Exchange Act of 2007 - Directs the Secretary of Agriculture, upon completion of an appraisal of the values of certain non-federal land owned by Grand Creek, LLC, and certain National Forest System land that adjoins land owned by Grand Creek in Clear Creek County, Colorado, and upon receipt of acceptable title to the non-federal land, to simultaneously convey such federal land to Grand Creek. Provides for Grand Creek, LLC, to enter into an enforceable agreement with the Secretary to allow public use of land owned by Grand Creek as is necessary to provide unimpeded access to St. Mary's Glacier.