article: SECTION 1. SHORT TITLE. This Act may be cited as the ``Alaska Peninsula Subsurface Consolidation Act of 1993''. SEC. 2. DEFINITIONS. As used in this Act: (1) Agency.--The term agency-- (A) means-- (i) any instrumentality of the United States; and (ii) any Government corporation (as defined in section 9101(1) of title 31, United States Code); and (B) includes any element of an agency. (2) Alaska native corporation.--The term ``Alaska Native Corporation'' has the same meaning as is provided for ``Native Corporation'' in section 3(m) of the Alaska Native Claims Settlement Act (43 U.S.C. 1602(m)). (3) Koniag.--The term ``Koniag'' means Koniag, Incorporated, which is a Regional Corporation. (4) Koniag account.--The term ``Koniag Account'' means the account established under section 4. (5) Property.--The term ``property'' has the same meaning as is provided in section 12(b)(7)(vii) of Public Law 94-204 (43 U.S.C. 1611 note). (6) Regional corporation.--The term ``Regional Corporation'' has the same meaning as is provided in section 3(g) of the Alaska Native Claims Settlement Act (43 U.S.C. 1602(g)). (7) Secretary.--Except as otherwise provided, the term ``Secretary'' means the Secretary of the Interior. (8) Selection rights.--The term ``selection rights'' means those rights granted to Koniag, pursuant to subsections (a) and (b) of section 12, and section 14(h)(8), of the Alaska Native Claims Settlement Act (43 U.S.C. 1611 and 1613(h)(8)), to receive title to the oil and gas rights and other interests in the subsurface estate of the approximately 275,000 acres of public lands in the State of Alaska identified as ``Koniag Selections'' on the map entitled ``Koniag Interest Lands, Alaska Peninsula'', dated May 1989. SEC. 3. ACQUISITION OF KONIAG SELECTION RIGHTS. -(-a-) -I-n -G-e-n-e-r-a-l-.-- -(-1-) -T-e-n-d-e-r -o-f -r-e-l-i-n-q-u-i-s-h-m-e-n-t -a-n-d -a-c-c-e-p-t-a-n-c-e-.----I-f -t-h-e -S-e-c-r-e-t-a-r-y -r-e-c-e-i-v-e-s -f-r-o-m -K-o-n-i-a-g -a -t-i-m-e-l-y -t-e-n-d-e-r -o-f -r-e-l-i-n-q-u-i-s-h-m-e-n-t -o-f -t-h-e -s-e-l-e-c-t-i-o-n -r-i-g-h-t-s-, -t-h-e -S-e-c-r-e-t-a-r-y -s-h-a-l-l--- -(-A-) -a-c-c-e-p-t -t-h-e -t-e-n-d-e-r -n-o-t -l-a-t-e-r -t-h-a-n -6-0 -d-a-y-s -a-f-t-e-r -t-h-e -d-a-t-e -o-f -t-h-e -r-e-c-e-i-p-t -o-f -t-h-e -t-e-n-d-e-r-; -a-n-d -(-B-) -n-o-t-i-f-y -t-h-e -S-e-c-r-e-t-a-r-y -o-f -t-h-e -T-r-e-a-s-u-r-y -o-f -t-h-e -a-c-c-e-p-t-a-n-c-e -o-f -t-h-e -t-e-n-d-e-r-. -(-2-) -T-i-m-e-l-i-n-e-s-s-.--- -(-A-) -I-n -g-e-n-e-r-a-l-.----F-o-r -t-h-e -p-u-r-p-o-s-e -o-f -p-a-r-a-g-r-a-p-h -(-1-) -a-n-d -s-u-b-j-e-c-t -t-o -s-u-b-p-a-r-a-g-r-a-p-h -(-B-)-, -a -t-e-n-d-e-r -b-y -K-o-n-i-a-g -s-h-a-l-l -b-e -t-i-m-e-l-y -i-f -t-h-e -t-e-n-d-e-r -i-s -r-e-c-e-i-v-e-d -b-y -t-h-e -S-e-c-r-e-t-a-r-y -n-o-t -l-a-t-e-r -t-h-a-n -1-8-0 -d-a-y-s -a-f-t-e-r -t-h-e -l-a-t-e-r -o-f--- -(-i-) -t-h-e -d-a-t-e -o-f -t-h-e -r-e-c-e-i-p-t -b-y -K-o-n-i-a-g -o-f -t-h-e -d-e-t-e-r-m-i-n-a-t-i-o-n -b-y -t-h-e -S-e-c-r-e-t-a-r-y -o-f -t-h-e -v-a-l-u-e -o-f -t-h-e -s-e-l-e-c-t-i-o-n -r-i-g-h-t-s -p-u-r-s-u-a-n-t -t-o -s-u-b-s-e-c-t-i-o-n -(-b-)-; -o-r -(-i-i-) -t-h-e -d-a-t-e -o-f -t-h-e -f-i-n-a-l -r-e-s-o-l-u-t-i-o-n -o-f -a-n-y -d-i-s-p-u-t-e -r-e-g-a-r-d-i-n-g -t-h-e -v-a-l-u-e -o-f -t-h-e -s-e-l-e-c-t-i-o-n -r-i-g-h-t-s -u-n-d-e-r -s-u-b-s-e-c-t-i-o-n -(-b-)-. -(-B-) -M-o-d-i-f-i-c-a-t-i-o-n-.----T-h-e -S-e-c-r-e-t-a-r-y -a-n-d -K-o-n-i-a-g -m-a-y -a-g-r-e-e -t-o -m-o-d-i-f-y -t-h-e -d-e-a-d-l-i-n-e -e-s-t-a-b-l-i-s-h-e-d -u-n-d-e-r -s-u-b-p-a-r-a-g-r-a-p-h -(-A-)-. (a) The Secretary shall determine, pursuant to subsection (b) hereof, the value of Selection Rights which Koniag possesses within the boundaries of Aniakchak National Monument and Preserve, Alaska Peninsula National Wildlife Refuge, and Becharof National Wildlife Refuge. (b) Value.-- (1) In general.--The value of the selection rights shall be equal to the fair market value of-- (A) the oil and gas interests in the lands or interests in lands that are the subject of the selection rights; and (B) in the case of the lands or interests in lands for which Koniag is to receive the entire subsurface estate, the subsurface estate of the lands or interests in lands that are the subject of the selection rights. (2) Appraisal.-- (A) Selection of appraiser.-- (i) In general.--Not later than 90 days after the date of enactment of this Act, the Secretary and Koniag shall meet to select a qualified appraiser to conduct an appraisal of the selection rights. Subject to clause (ii), the appraiser shall be selected by the mutual agreement of the Secretary and Koniag. (ii) Failure to agree.--If the Secretary and Koniag fail to agree on an appraiser by the date that is 60 days after the date of the initial meeting referred to in clause (i), the Secretary and Koniag shall, by the date that is not later than 90 days after the date of the initial meeting, each designate an appraiser who is qualified to perform the appraisal. The 2 appraisers so identified shall select a third qualified appraiser who shall perform the appraisal. (B) Standards and methodology.--The appraisal shall-- (i) be conducted in conformity with the standards of the Appraisal Foundation (as defined in section 1121(9) of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 3350(9)); and -(-i-i-) -u-t-i-l-i-z-e -t-h-e -m-e-t-h-o-d-o-l-o-g-y -c-u-s-t-o-m-a-r-i-l-y -u-s-e-d -b-y -t-h-e -M-i-n-e-r-a-l-s -M-a-n-a-g-e-m-e-n-t -S-e-r-v-i-c-e -o-f -t-h-e -D-e-p-a-r-t-m-e-n-t -o-f -t-h-e -I-n-t-e-r-i-o-r-. (ii) utilize risk adjusted discounted cash flow methodology. (C) Submission of appraisal report.--Not later than 180 days after the selection of an appraiser pursuant to subparagraph (A), the appraiser shall submit to the Secretary and to Koniag a written appraisal report specifying the value of the selection rights and the methodology used to arrive at the value. (3) Determination of value.-- (A) Determination by the secretary.--Not later than 60 days after the date of the receipt of the appraisal report under paragraph (2)(C), the Secretary shall determine the value of the selection rights and shall notify Koniag of the determination. (B) Alternative determination of value.-- (i) In general.--Subject to clause (ii), if Koniag does not agree with the value determined by the Secretary under subparagraph (A), the procedures specified in section 206(d) of the Federal Land Policy and Management Act of 1976 (43 U.S.C. 1716(d)) shall be used to establish the value. (ii) Average value limitation.--The average value per acre of the selection rights shall not be more than $300. -S-E-C-. -4-. -K-O-N-I-A-G -A-C-C-O-U-N-T-. -(-a-) -E-s-t-a-b-l-i-s-h-m-e-n-t-.-- -(-1-) -I-n -g-e-n-e-r-a-l-.----I-f -t-h-e -S-e-c-r-e-t-a-r-y -o-f -t-h-e -T-r-e-a-s-u-r-y -i-s -n-o-t-i-f-i-e-d -p-u-r-s-u-a-n-t -t-o -s-e-c-t-i-o-n -3-(-a-)-(-1-)-(-B-)-, -o-n -O-c-t-o-b-e-r -1-, -1-9-9-7-, -t-h-e -S-e-c-r-e-t-a-r-y -o-f -t-h-e -T-r-e-a-s-u-r-y-, -i-n -c-o-n-s-u-l-t-a-t-i-o-n -w-i-t-h -t-h-e -S-e-c-r-e-t-a-r-y-, -s-h-a-l-l -e-s-t-a-b-l-i-s-h -i-n -t-h-e -T-r-e-a-s-u-r-y -o-f -t-h-e -U-n-i-t-e-d -S-t-a-t-e-s -a-n -a-c-c-o-u-n-t -t-o -b-e -k-n-o-w-n -a-s -t-h-e -`-`-K-o-n-i-a-g -A-c-c-o-u-n-t-'-'-. -(-2-) -I-n-i-t-i-a-l -b-a-l-a-n-c-e-.----T-h-e -i-n-i-t-i-a-l -b-a-l-a-n-c-e -o-f -t-h-e -K-o-n-i-a-g -A-c-c-o-u-n-t -s-h-a-l-l -b-e -e-q-u-a-l -t-o -t-h-e -v-a-l-u-e -o-f -t-h-e -s-e-l-e-c-t-i-o-n -r-i-g-h-t-s -a-s -d-e-t-e-r-m-i-n-e-d -p-u-r-s-u-a-n-t -t-o -s-e-c-t-i-o-n -3-(-b-)-. SEC. 4. KONIAG ACCOUNT. (a) In General.-- (1) The Secretary shall enter into negotiations for an agreement or agreements to exchange Federal lands or interests therein which are in the State of Alaska for the Koniag Selection Rights referred to in section 3. (2) If the value of the Federal lands to be exchanged is less than the value of the Koniag Selection Rights established in section 3, then the Secretary may exchange the Federal lands for an equivalent portion of the Koniag Selection Rights. The remaining selection rights shall remain available for additional exchanges. (3) For purposes of this section, the term ``Federal lands'' means lands or interests therein located in Alaska, administered by the Secretary and the title to which is in the United States but excluding all lands and interests therein which are located within a conservation system unit as defined in the Alaska National Interest Lands Conservation Act section 102(4). (b) Account.-- (1) In general.--With respect to any Koniag Selection Rights for which an exchange has not been completed by October 1, 2004 (hereafter in this section referred to as ``remaining selection rights''), the Secretary of the Treasury, in consultation with the Secretary, shall, notwithstanding any other provision of law, establish in the Treasury of the United States, an account to be known as the Koniag Account. Upon the relinquishment of the remaining selection rights to the United States, the Secretary shall credit the Koniag Account in the amount of the appraised value of the remaining selection rights. (2) Initial balance.--The initial balance of the Koniag Account shall be equal to the value of the selection rights as determined pursuant to section 3(b). (3) Use of account.-- (A) In general.--Amounts in the Koniag Account shall-- (i) be made available by the Secretary of the Treasury to Koniag for bidding on and purchasing property sold at public sale, subject to the conditions described in this paragraph; and (ii) remain available until expended. (B) Assignment.-- (i) In general.--Subject to clause (ii) and notwithstanding any other provision of law, the right to request the Secretary of the Treasury to withdraw funds from the Koniag Account shall be assignable in whole or in part by Koniag. (ii) Notice of assignment.--No assignment shall be recognized by the Secretary of the Treasury until Koniag files written notice of the assignment with the Secretary of the Treasury and the Secretary. (C) Bidding and purchasing.-- (i) In general.--Koniag may use the Koniag Account to-- (I) bid, in the same manner as any other bidder, for any property at any public sale by an agency; and (II) purchase the property in accordance with applicable laws, including the regulations of the agency offering the property for sale. (ii) Requirements for agencies.--In conducting a transaction described in clause (i), an agency shall accept, in the same manner as cash, an amount tendered from the Koniag Account. (iii) Adjustment of balance.--The Secretary of the Treasury shall adjust the balance of the Koniag Account to reflect each transaction under clause (i). (4) Special procedures.--The Secretary of the Treasury, in consultation with the Secretary, shall establish procedures to permit the Koniag Account to-- (A) receive deposits; (B) make deposits into escrow when an escrow is required for the sale of any property; and (C) reinstate to the Koniag Account any unused escrow deposits if a sale is not consummated. -(-b-) (c) Treatment of Amounts From Account.--The Secretary of the Treasury shall-- (1) deem as a cash payment any amount tendered from the Koniag Account and received by an agency as a proceed from a public sale of property; and (2) make any transfer necessary to permit the agency to use the proceed in the event an agency is authorized by law to use the proceed for a specific purpose. -(-c-) (d) Requirement for the Administration of Sales.-- (1) In general.--Subject to paragraph (2), the Secretary of the Treasury and the heads of agencies shall administer sales described in subsection (a)(3)(C) in the same manner as is provided for any other Alaska Native Corporation that-- (A) is authorized by law as of the date of enactment of this Act; and (B) has an account similar to the Koniag Account for bidding on and purchasing property sold for public sale. (2) Prohibition.--Amounts in an account established for the benefit of a specific Alaska Native Corporation may not be used to satisfy the property purchase obligations of any other Alaska Native Corporation. -(-d-) -D-i-v-i-s-i-o-n -o-f -R-e-v-e-n-u-e-s-.----T-h-e -s-e-l-e-c-t-i-o-n -r-i-g-h-t-s -s-h-a-l-l -b-e -d-e-e-m-e-d -t-o -b-e -a-n -i-n-t-e-r-e-s-t -i-n -t-h-e -s-u-b-s-u-r-f-a-c-e -e-s-t-a-t-e -f-o-r -t-h-e -p-u-r-p-o-s-e -o-f -s-e-c-t-i-o-n -7-(-i-) -o-f -t-h-e -A-l-a-s-k-a -N-a-t-i-v-e -C-l-a-i-m-s -S-e-t-t-l-e-m-e-n-t -A-c-t -(-4-3 -U-.-S-.-C-. -1-6-0-6-(-i-)-)-. (e) Revenues.--The Koniag Account shall be deemed to be an interest in the subsurface for purposes of section 7(i) of the Alaska Native Claims Settlement Act (43 U.S.C. 1601 et seq.). SEC. 5. CERTAIN CONVEYANCES. (a) Interests in Land.--For the purpose of section 21(c) of the Alaska Native Claims Settlement Act (43 U.S.C. 1620(c)), the following shall be deemed to be an interest in land: (1) The establishment of the Koniag Account and the right of Koniag to request the Secretary of the Treasury to withdraw funds from the Koniag Account. (2) The receipt by a Settlement Trust (as defined in section 3(t) of such Act (43 U.S.C. 1602(t)) of a conveyance by Koniag of any right in the Koniag Account. (b) Authority to Appoint Trustees.--In establishing a Settlement Trust under section 39 of such Act (43 U.S.C. 1629e), Koniag may delegate the authority granted to Koniag under subsection (b)(2) of such section to any entity that Koniag may select without affecting the status of the Settlement Trust under this section. S 855 RS----2
summary: Alaska Peninsula Subsurface Consolidation Act of 1993 - Directs the Secretary of the Interior to determine the value of rights granted to Koniag, Incorporated, purusant to the Alaska Native Claims Settlement Act to receive title to the oil and gas rights and other interests in the subsurface estate of specified public lands in Alaska (selection rights) which Koniag possesses within the boundaries of Aniakchak National Monument and Preserve, Alaska Peninsula National Wildlife Refuge, and Becharof National Wildlife Refuge. Specifies that the value of such rights shall be equal to the fair market value of: (1) the oil and gas interests in the lands that are the subject of the selection rights; and (2) in the case of the lands for which Koniag is to receive the entire subsurface estate, the subsurface estate of the lands that are the subject of such rights. Directs the Secretary and Koniag to meet to select a qualified appraiser to conduct an appraisal of the selection rights in conformity with the standards of the Appraisal Foundation of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, utilizing a risk adjusted discounted cash flow methodology. Sets forth provisions regarding: (1) submission of the appraisal report; (2) determination of the value of the selection rights; and (3) an alternative determination of value if Koniag disagrees with the value determined by the Secretary. Directs: (1) the Secretary to enter into negotiations for an agreement to exchange Federal lands in Alaska for the Koniag selection rights; and (2) the Secretary of the Treasury, regarding any such rights for which an exchange has not been completed by October 1, 2004, to establish within the Treasury the Koniag Account and, upon relinquishment of such remaining rights to the United States, to credit the Account in the amount of the appraised value of such rights. Requires the Secretary of the Treasury to make amounts in the Account available to Koniag for bidding on and purchasing property sold at public sale.