Page:United States Statutes at Large Volume 120.djvu/2688

 PUBLIC LAW 109–375—DEC. 1, 2006

120 STAT. 2657

corrections to the legal descriptions of the Federal land and non-Federal land. (B) MODIFICATIONS.—The Secretary and the owner of the non-Federal land may agree to make minor modifications to the legal descriptions if the modifications do not affect the overall value of the exchange by more than 5 percent. (b) VALUATION OF LAND TO BE CONVEYED.—For purposes of this section, during the period referred to in subsection (a)(1)— (1) the value of the non-Federal land shall be considered to be $200,000; and (2) the value of the Federal land shall be considered to be $250,000. (c) ADMINISTRATION OF LAND ACQUIRED BY UNITED STATES.— On acquisition by the Secretary, the Secretary shall manage the non-Federal land in accordance with— (1) the Act of March 1, 1911 (commonly known as the ‘‘Weeks Act’’) (16 U.S.C. 480 et seq.); and (2) any other laws (including regulations) applicable to the National Forest System. (d) CONDITIONS ON CONVEYANCE OF FEDERAL LAND.—The conveyance by the Secretary under subsection (a) shall be subject to the conditions that— (1) the recipient of the Federal land convey all 160 acres of the Federal land to the Council not later than 120 days after the date on which the recipient receives title to the Federal land; (2) in accordance with section 4(a), the Secretary grant to the owner of Project No. 67 an easement; and (3) in accordance with section 4(b), the owner of Project No. 67 has the right of first refusal regarding any reconveyance of the Federal land by the Council. (e) DISPOSITION AND USE OF CASH EQUALIZATION FUNDS.— (1) IN GENERAL.—The Secretary shall deposit the cash equalization payment received under subsection (a)(1) in the fund established by Public Law 90–171 (commonly known as the ‘‘Sisk Act’’) (16 U.S.C. 484a). (2) USE.—Amounts deposited under paragraph (1) shall be available to the Secretary until expended, without further appropriation, for the acquisition of land and any interests in land for the National Forest System in the State of California. (f) COST COLLECTION FUNDS.— (1) IN GENERAL.—The owner of the non-Federal land shall pay to the Secretary all direct costs associated with processing the land exchange under this section. (2) COST COLLECTION ACCOUNT.— (A) IN GENERAL.—Any amounts received by the Secretary under paragraph (1) shall be deposited in a cost collection account. (B) USE.—Amounts deposited under subparagraph (A) shall be available to the Secretary until expended, without further appropriation, for the costs associated with the land exchange. (C) REFUND.—The Secretary shall provide to the owner of the non-Federal land a refund of any amounts remaining in the cost collection account after completion of the land

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