[105th Congress Public Law 279]
[From the U.S. Government Printing Office]
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[DOCID: f:publ279.105]
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MOUNT ST. HELENS NATIONAL VOLCANIC MONUMENT COMPLETION ACT
[[Page 112 STAT. 2690]]
Public Law 105-279
105th Congress
An Act
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. <<NOTE: Oct. 23, 1998 - [H.R. 1659]>>
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress <<NOTE: Mount St. Helens National
Volcanic Monument Completion Act. 16 USC 431 note.>> assembled,
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 the following:
(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 the Congress
that the exchanges be completed by November 24, 1982, and August
26, 1983, respectively.
(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 enactment of
the Act.
(b) Purpose.--The purpose of this Act is to facilitate and otherwise
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 AND GEOTHERMAL INTERESTS WITHIN MOUNT ST.
HELENS 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 (Public Law 97-243; 96 Stat.
302; 16 U.S.C. 431 note), is amended by adding at the end the following
new subsections:
``(g) Exchanges For Mineral and Geothermal Interests Held by Certain
Companies.--
[[Page 112 STAT. 2691]]
``(1) Definition of company.--In this subsection, the term
`company' means a company referred to in subsection (c) or its
assigns or successors.
``(2) Exchange required.--Within 60 days after the date of
enactment of this subsection, the Secretary of the Interior
shall acquire by exchange the mineral and geothermal interests
in the Monument of each company.
``(3) Monetary credits.--
``(A) Issuance.--In exchange for all mineral and
geothermal interests acquired by the Secretary of the
Interior from each company under paragraph (2), the
Secretary of the Interior shall issue to each such
company monetary credits with a value of $2,100,000 that
may be used for the 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.) in the contiguous
48 States;
``(ii) not more than 10 percent of the bonus
or other payments made by successful bidders in
any sales of mineral, oil, gas, or geothermal
leases in Alaska under the laws specified in
clause (i);
``(iii) 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 in the contiguous 48
States issued under the laws specified in clause
(i); or
``(iv) not more than 10 percent of any
royalty, rental, or advance royalty payment made
to the United States to maintain any mineral, oil
or gas, or geothermal lease in Alaska issued under
the laws specified in clause (i).
``(B) Value of credits.--The total credits of
$4,200,000 in value issued under subparagraph (A) are
deemed to equal the fair market value of all mineral and
geothermal interests to be conveyed by exchange under
paragraph (2).
``(4) Acceptance of credits.--The Secretary of the Interior
shall accept credits issued under paragraph (3)(A) in the same
manner as cash for the payments described in such paragraph. The
use of the credits shall be subject to the laws (including
regulations) governing such payments, to the extent the laws are
consistent with this subsection.
``(5) Treatment of credits for distribution to states.--All
amounts in the form of credits accepted by the Secretary of the
Interior under paragraph (4) for the payments described in
paragraph (3)(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).
``(6) Exchange account.--
``(A) Establishment.--Notwithstanding any other
provision of law, not later than 30 days after the
completion of the exchange with a company required by
paragraph
[[Page 112 STAT. 2692]]
(2), the Secretary of the Interior shall establish an
exchange account for that company for the monetary
credits issued to that company under paragraph (3). The
account for a company shall be established with the
Minerals Management Service of the Department of the
Interior and have an initial balance of credits equal to
$2,100,000.
``(B) Use of credits.--The credits in a company's
account shall be available to the company for the
purposes specified in paragraph (3)(A). The Secretary of
the Interior shall adjust the balance of credits in the
account to reflect credits accepted by the Secretary of
the Interior pursuant to paragraph (4).
``(C) Transfer or sale of credits.--
``(i) Transfer or sale authorized.--A company
may transfer or sell any credits in the company's
account to another person.
``(ii) Use of transferred credits.--Credits
transferred or sold 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.--Within 30 days after
the transfer or sale of any credits by a company,
that company shall notify the Secretary of the
Interior of the transfer or sale. The transfer or
sale of any credit shall not be considered valid
until the Secretary of the Interior has received
the notification required under this clause.
``(D) Time limit on use of credits.--On the date
that is 5 years after the date on which an account is
created under subparagraph (A) for a company, the
Secretary of the Interior shall terminate that company's
account. Any credits that originated in the terminated
account and have not been used as of the termination
date, including any credits transferred or sold under
subparagraph (C), shall become unusable.
``(7) Title to interests.--On the date of the establishment
of an exchange account for a company under paragraph (6)(A),
title to any mineral and geothermal interests that are held by
the company and are to be acquired by the Secretary of the
Interior under paragraph (2) shall transfer to the United
States.
``(h) Other <<NOTE: Reports.>> Mineral and Geothermal Interests.--
Within 180 days after the date of the enactment of this subsection, the
Secretary shall submit to the Committee on Resources of the House of
Representatives and the Committee on Energy and Natural Resources of the
Senate a report--
[[Page 112 STAT. 2693]]
``(1) identifying all remaining privately held mineral
interests within the boundaries of the Monument referred to in
section 1(a); and
``(2) setting forth a plan and a timetable by which the
Secretary would propose to complete the acquisition of such
interests.''.
Approved October 23, 1998.
LEGISLATIVE HISTORY--H.R. 1659 (S. 638):
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HOUSE REPORTS: No. 105-704 (Comm. on Resources).
SENATE REPORTS: No. 105-229 accompanying S. 638 (Comm. on Energy and
Natural Resources).
CONGRESSIONAL RECORD, Vol. 144 (1998):
Sept. 23, considered and passed House.
Oct. 7, considered and passed Senate.
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