article: SECTION 1. SHORT TITLE. This Act may be cited as the ``Spring Mountain Exchange Act of 1998''. SEC. 2. EXCHANGE OF LANDS AND MINERAL INTERESTS. (a) Conveyance by United States.-- (1) In general.--Subject to subsections (b), (c), and (d) and notwithstanding any other provision of law, not later than 90 days after the final determination of lands and interests subject to exchange under this section, the Secretary of the Interior shall convey to Rhodes Design and Development Corporation, subject to any valid existing rights and in exchange for lands and interests conveyed by the Corporation in accordance with subsection (b), all right, title, and interest of the United States in and to approximately 1,463 acres of Federal lands in the State of Nevada depicted on the map entitled ``Spring Mountain Land Exchange, Map 1 dated August ____, 1998''. The Secretary shall make that map available for public inspection in the offices of the Director of the Las Vegas District of the Bureau of Land Management. (2) Determination of lands and interests.--The Secretary shall determine the lands and interests that are subject to exchange under this section not later than 90 days after the date of the enactment of this Act. (b) Offer and Acceptance.--The Secretary shall make the conveyance to the Corporation under subsection (a) only if the Corporation conveys to the United States all right, title, and interest of the Corporation in and to approximately 490 acres of lands in the State of Nevada depicted on a map entitled ``Spring Mountain Land Exchange Map 2 dated August ____, 1998''. The Secretary shall make that map available for public inspection in the offices of the Director of the Las Vegas District of the Bureau of Land Management. (c) Equalization Payments.-- (1) In general.--If the fair market values of lands and interests exchanged under this section are not equal, the Secretary shall ensure that they are equalized by the payment of money to the Secretary or to the Corporation as appropriate in accordance with section 206(b) of the Federal Land Policy and Management Act of 1976 (43 U.S.C. 1716(b)). (2) Valuation.--The value of lands and interests shall be determined for purposes of this section-- (A) utilizing nationally recognized appraisal standards; (B) in accordance with section 206 of the Federal Land Policy and Management Act of 1976 (43 U.S.C. 1716(b)); and (C) without regard to the presence of any species listed as threatened species or endangered species under the Endangered Species Act of 1973 (16 U.S.C. 1531 et seq.). (d) Payments to State and Local Government.-- (1) In general.--The Secretary shall require, as a term of any conveyance under this section, that the Corporation shall make direct payments to the State of Nevada and the Southern Nevada Water Authority in accordance with paragraph (2). Such payments shall be considered to be a cost incurred by the Corporation and shall be compensated by the Secretary. (2) Amount of payment.-- (A) Payment to state.--The amount paid by the Corporation to the State of Nevada shall be equal to 5 percent of the fair market value of the Federal lands conveyed by the United States under this section (as determined under subsection (b)), and shall be used by the State only in the general education program of the State. (B) Payment to authority.--The amount paid by the Corporation to the Southern Nevada Water Authority shall be equal to 10 percent of the fair market value of the Federal lands conveyed by the United States under this section (as determined under subsection (b)), and shall be used by the Authority only for water treatment and transmission facility infrastructure in Clark County, Nevada. (e) Adjustments to Maps.--The Secretary may make such minor corrections in the maps referred to in this section as may be agreed upon by the Secretary and the Corporation, after the Secretary notifies the Committee on Energy and Natural Resources of the Senate and the Committee on Resources of the House of Representatives of any such minor corrections. (f) Administration of Lands.-- (1) Cancellation.--If, before the exchange has been carried out pursuant to subsections (a) and (b), the Corporation provides written notification to the Secretary that the Corporation no longer intends to complete the exchange, the status of the lands and interests otherwise subject to the exchange shall revert to the status of such lands and interests as of the day before the date of enactment of this Act, and the lands and interests shall be managed in accordance with applicable law and management plans. (2) Administration of lands acquired by the united states.--On acceptance of title by the United States, all land and interests acquired by the United States under this section that are located within the boundaries of a unit of the National Forest System, National Park System, National Wildlife Refuge System, National Wild and Scenic Rivers System, National Trails System, National Wilderness Preservation System, or any other system established by an Act of Congress, or within the boundaries of any national conservation area or national recreation area established by an Act of Congress-- (A) shall become part of the unit or area without further administrative or legislative action; and (B) shall be managed in accordance with all laws, regulations, and land use plans applicable to the unit or area. (g) Definitions.--As used in this section: (1) Corporation.--The term ``Corporation'' means the Rhodes Design and Development Corporation (a corporation established under the laws of the State of Nevada). (2) Secretary.--The term ``Secretary'' means the Secretary of the Interior.
summary: Spring Mountain Exchange Act of 1998 - Requires the Secretary of the Interior to convey to Rhodes Design and Development Corporation certain Federal lands in Clark County, Nevada, in exchange for: (1) certain Corporation lands in Nevada; and (2) specified payments by the Corporation to the State of Nevada for use in its general education program and to the Southern Nevada Water Authority for water treatment and transmission facility infrastructure. Provides that such payments shall be considered to be a cost incurred by the Corporation and shall be compensated by the Secretary.