[Congressional Record Volume 144, Number 96 (Friday, July 17, 1998)]
[Senate]
[Pages S8533-S8534]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




       MOUNT ST. HELENS NATIONAL VOLCANIC MONUMENT COMPLETION ACT

  The Senate proceeded to consider the bill (S. 638) to provide for the 
expeditious completion of the acquisition of private mineral interests 
within the Mount St. Helens National Volcanic Monument mandated by the 
1982 Act that established the Monument, and for other purposes, which 
had been reported from the Committee on Energy and Natural Resources, 
with an amendment to strike all after the enacting clause and inserting 
in lieu thereof the following:

     SECTION 1. SHORT TITLE.

       This Act may be cited as the ``Mount St. Helens National 
     Volcanic Monument Completion Act''.

     SEC. 2. FINDINGS AND PURPOSE.

       (a) Findings.--Congress finds that--
       (1) the Act entitled ``An Act to designate the Mount St. 
     Helens National Volcanic Monument in the State of Washington, 
     and for other purposes'', approved August 26, 1982 (96 Stat. 
     301; 16 U.S.C. 431 note), required the United States to 
     acquire all land and interests in land in the Mount St. 
     Helens National Volcanic Monument;
       (2) the Act directed the Secretary of Agriculture to 
     acquire the surface interests and the mineral and geothermal 
     interests by separate exchanges and expressed the sense of 
     Congress that the exchanges be completed by November 24, 
     1982, and August 26, 1983, respectively; and
       (3) the surface interests exchange was consummated timely, 
     but the exchange of all mineral and geothermal interests has 
     not yet been completed a decade and a half after the Act's 
     enactment.
       (b) Purpose.--The purpose of this Act is to provide for the 
     expeditious completion of the previously mandated Federal 
     acquisition of private mineral and geothermal interests 
     within the Mount St. Helens National Volcanic Monument.

     SEC. 3. ACQUISITION OF MINERAL RIGHTS WITHIN THE NATIONAL 
                   VOLCANIC MONUMENT.

       Section 3 of the Act entitled ``An Act to designate the 
     Mount St. Helens National Volcanic Monument in the State of 
     Washington, and for other purposes'', approved August 26, 
     1982 (96 Stat. 302; 16 U.S.C. 431 note), is amended--
       (1) in subsection (a), by striking ``and except that the 
     Secretary may acquire mineral and geothermal interests only 
     by exchange. It is the

[[Page S8534]]

     sense of the Congress that in the case of mineral and 
     geothermal interests such exchanges should be completed 
     within one year after the date of enactment of this Act''; 
     and
       (2) by adding at the end the following:
       ``(g) Expeditious Completion of Mineral and Geothermal 
     Interests.--
       ``(1) Definition of holder.--In this subsection, the term 
     `holder' means a company, or its successor, referred to in 
     subsection (c).
       ``(2) In general.--Within the period described in paragraph 
     (7), the Secretary of the Interior shall acquire by exchange 
     the mineral and geothermal interests in the Monument of each 
     holder.
       ``(3) Monetary credits.--
       ``(A) Issuance.--In exchange for the mineral and geothermal 
     interests acquired by the Secretary of the Interior from a 
     holder under paragraph (2), the Secretary of the Interior 
     shall issue to the holder monetary credits that may be 
     exercised by the holder for payment of--
       ``(i) not more than 50 percent of the bonus or other 
     payments made by successful bidders in any sales of mineral, 
     oil, gas, or geothermal leases under the Mineral Leasing Act 
     (30 U.S.C. 181 et seq.), the Outer Continental Shelf Lands 
     Act (43 U.S.C. 1331 et seq.), or the Geothermal Steam Act of 
     1970 (30 U.S.C. 1001 et seq.); or
       ``(ii) not more than 50 percent of any royalty, rental, or 
     advance royalty payment made to the United States to maintain 
     any mineral, oil or gas, or geothermal lease issued under the 
     Acts listed in clause (i).
       ``(B) Value of credits.--The credits issued under 
     subparagraph (A) shall equal the fair market value of all 
     mineral and geothermal interests conveyed in the exchange as 
     determined under paragraph (4).
       ``(C) Acceptance of credits.--The Secretary of the Interior 
     shall accept credits issued under subparagraph (A) in the 
     same manner as cash for the payments described in 
     subparagraph (A). The use and exercise of the credits shall 
     be subject to the laws (including regulations) governing such 
     payments, to the extent the laws are consistent with this 
     subsection.
       ``(D) Treatment of credits for distribution to states.--All 
     amounts in the form of credits accepted by the Secretary of 
     the Interior under subparagraph (C) for the payments 
     described in subparagraph (A) shall be considered to be money 
     received for the purpose of section 35 of the Mineral Leasing 
     Act (30 U.S.C. 191) and section 20 of the Geothermal Steam 
     Act of 1970 (30 U.S.C. 1019).
       ``(4) Valuation of interests.--
       ``(A) In general.--Not later than 120 days after the date 
     of enactment of this subsection, the mineral and geothermal 
     interests to be conveyed by each holder in the exchanges 
     required by paragraph (2) shall be valued by one of the 
     following methods, as selected by the Secretary of the 
     Interior:
       ``(i) Use of appraisal report.--The 1982 value established 
     by the report of the third party appraisal completed on 
     September 11, 1991, shall be adjusted to reflect changes in 
     the consumer price index for all urban consumers published by 
     the Department of Labor as of the date on which the exchange 
     is to be consummated pursuant to paragraph (7), or such other 
     value as shall be mutually agreed to by the Secretary of the 
     Interior and the holders not later than 30 days after the 
     date of enactment of this subsection.
       ``(ii) New appraisal.--

       ``(I) Selection of appraiser.--Not later than 30 days after 
     the date of enactment of this subsection, the Secretary of 
     the Interior and the holders shall mutually agree on the 
     selection of a qualified appraiser to conduct an appraisal of 
     the mineral and geothermal interests.
       ``(II) No agreement on appraiser.--If no appraiser is 
     mutually agreed to under subclause (I), not later than 60 
     days after the date of enactment of this subsection--

       ``(aa) the Secretary of the Interior and the holders shall 
     each designate a qualified appraiser; and
       ``(bb) the two designated appraisers shall select a third 
     qualified appraiser to perform the appraisal with the advice 
     and assistance of the designated appraisers and in accordance 
     with the instructions that were mutually agreed on for the 
     September 11, 1991, third part appraisal.

       ``(III) Date of valuation.--The value of the mineral and 
     geothermal interests to be conveyed by each holder shall be 
     calculated as of August 26, 1982, adjusted to reflect changes 
     in the consumer price index for all urban consumers published 
     by the Department of Labor as of the date on which the 
     exchange is to be consummated pursuant to paragraph (7).
       ``(IV) Costs.--The Secretary of the Interior shall bear the 
     costs of the process established by this clause.

       ``(B) Timely appraisal report.--The appraisal report 
     resulting from subparagraph (A) shall be presented to the 
     Secretary of the Interior timely to permit the Secretary of 
     the Interior to determine the value of the mineral and 
     geothermal interests to be conveyed by each holder. Not later 
     than the date that is 180 days after the date of enactment of 
     this subsection, the Secretary of the Interior shall notify 
     each holder of the determination.
       ``(C) Failure of process.--If the Secretary of the Interior 
     fails to make a determination under subparagraph (B) by the 
     date that is 180 days after the date of enactment of this 
     subsection or if any holder does not agree with the value 
     determined by the Secretary of the Interior under 
     subparagraph (B), one or more of the holders may petition the 
     United States Court of Federal Claims for a determination of 
     the value of the mineral and geothermal interests to be 
     conveyed by the holders in accordance with this subsection. 
     Subject to the right of appeal, a determination by the Court 
     shall be binding for purposes of this subsection on all 
     parties.
       ``(5) Exchange account.--
       ``(A) In general.--Notwithstanding any other provision of 
     law, not later than 30 days after the completion of each 
     exchange with a holder required by this subsection, the 
     Secretary of the Interior shall establish, with the Minerals 
     Management Service of the Department of the Interior, an 
     exchange account for the holder for monetary credits 
     described in paragraph (3).
       ``(B) Initial balance.--The initial balance of credits in 
     each holder's account shall be equal to the value as 
     determined under paragraph (4) of the mineral and geothermal 
     interests conveyed by the holder in the exchange.
       ``(C) Use of credits.--The balance of credits in a holder's 
     account shall be available to the holder or its assigns for 
     the purposes of paragraph (3). The Secretary of the Interior 
     shall adjust the balance of credits in the account to reflect 
     payments made pursuant to paragraph (3).
       ``(D) Transfer of credits.--
       ``(i) In general.--A holder may transfer or sell any 
     credits in the holder's account to another person.
       ``(ii) Use of transferred credits.--Credits transferred 
     under clause (i) may be used in accordance with this 
     subsection only by a person that is qualified to bid on, or 
     that holds, a mineral, oil, or gas lease under the Mineral 
     Leasing Act (30 U.S.C. 181 et seq.), the Outer Continental 
     Shelf Lands Act (43 U.S.C. 1331 et seq.), or the Geothermal 
     Steam Act of 1970 (30 U.S.C. 1001 et seq.).
       ``(iii) Notification.--A holder shall notify the Secretary 
     of the Interior of any transfer or sale under this 
     subparagraph promptly after the transfer or sale.
       ``(E) Time limit on use of credits.--On the date that is 5 
     years after an account is created under subparagraph (A), the 
     Secretary of the Interior shall terminate the account and any 
     remaining credits in the account shall become unusable.
       ``(6) Title to interests.--On the date of the establishment 
     of an exchange account for a holder under paragraph (5)(A), 
     title to any mineral and geothermal interests that are held 
     by the holder and are to be acquired by the Secretary of the 
     Interior under paragraph (2) shall transfer to the United 
     States.
       ``(7) Completion of exchanges.--The Secretary of the 
     Interior shall complete the exchanges under paragraph (2) not 
     later than 180 days after the date of enactment of this 
     subsection or as soon as practicable after completion of the 
     process described in paragraph (4)(C).''.

  The committee amendment was agreed to.
  The bill (S. 638), as amended, was deemed read the third time and 
passed.

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