text: 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.
target: 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.
feat_title: Spring Mountain Exchange Act of 1998