[105th Congress Public Law 296]
[From the U.S. Government Printing Office]


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[DOCID: f:publ296.105]


[[Page 112 STAT. 2822]]

Public Law 105-296
105th Congress

                                 An Act


 
 To amend the Idaho Admission Act regarding the sale or lease of school 
              land. <<NOTE: Oct. 27, 1998 -  [H.R. 4166]>> 

    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.--

[[Page 112 STAT. 2823]]

                    ``(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 the 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.''.

    Approved October 27, 1998.

LEGISLATIVE HISTORY--H.R. 4166:
---------------------------------------------------------------------------

HOUSE REPORTS: No. 105-705 (Comm. on Resources).
SENATE REPORTS: No. 105-393 (Comm. on Energy and Natural Resources).
CONGRESSIONAL RECORD, Vol. 144 (1998):
            Sept. 15, considered and passed House.
            Oct. 7, considered and passed Senate.

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