[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4166 Engrossed in House (EH)]


  2d Session

                               H. R. 4166

_______________________________________________________________________

                                 AN ACT

To amend the Idaho Admission Act regarding the sale or lease of school 
                                 land.
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
105th CONGRESS
  2d Session
                                H. R. 4166

_______________________________________________________________________

                                 AN ACT


 
To amend the Idaho Admission Act regarding the sale or lease of school 
                                 land.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SALE, LEASE, OR EXCHANGE OF IDAHO SCHOOL LAND.

    The Act of July 3, 1890 (commonly known as the ``Idaho Admission 
Act'') (26 Stat. 215, chapter 656), is amended by striking section 5 
and inserting the following:

``SEC. 5. SALE, LEASE, OR EXCHANGE OF SCHOOL LAND.

    ``(a) Sale.--
            ``(1) In general.--Except as provided in subsection (c), 
        all land granted under this Act for educational purposes shall 
        be sold only at public sale.
            ``(2) Use of proceeds.--
                    ``(A) In general.--Proceeds of the sale of school 
                land--
                            ``(i) except as provided in clause (ii), 
                        shall be deposited in the public school 
                        permanent endowment fund and expended only for 
                        the support of public schools; and
                            ``(ii)(I) may be deposited in a land bank 
                        fund to be used to acquire, in accordance with 
                        State law, other land in the State for the 
                        benefit of the beneficiaries of the public 
                        school permanent endowment fund; or
                            ``(II) if the proceeds are not used to 
                        acquire other land in the State within a period 
                        specified by State law, shall be transferred to 
                        the public school permanent endowment fund.
                    ``(B) Earnings reserve fund.--Earnings on amounts 
                in the public school permanent endowment fund shall be 
                deposited in an earnings reserve fund to be used for 
                the support of public schools of the State in 
                accordance with State law.
    ``(b) Lease.--Land granted under this Act for educational purposes 
may be leased in accordance with State law.
    ``(c) Exchange.--
            ``(1) In general.--Land granted for educational purposes 
        under this Act may be exchanged for other public or private 
        land.
            ``(2) Valuation.--The values of exchanged lands shall be 
        approximately equal, or, if the values are not approximately 
        equal, the values shall be equalized by the payment of funds by 
        the appropriate party.
            ``(3) Exchanges with the united states.--
                    ``(A) In general.--A land exchange with the United 
                States shall be limited to Federal land within the 
                State that is subject to exchange under the law 
                governing the administration of the Federal land.
                    ``(B) Previous exchanges.--All land exchanges made 
                with the United States before the date of enactment of 
                this paragraph are approved.
    ``(d) Reservation for School Purposes.--Land granted for 
educational purposes, whether surveyed or unsurveyed, shall not be 
subject to preemption, homestead entry, or any other form of entry 
under the land laws of the United States, but shall be reserved for 
school purposes only.''.

            Passed the House of Representatives September 15, 1998.

            Attest:

                                                                 Clerk.