text: 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
target: 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.
feat_title: Alaska Peninsula Subsurface Consolidation Act of 1993