123STA T . 1 047PUBLIC LA W 111 – 11 —M A R .30 , 200 9(3)SURVEYS.—The e xact ac r ea g ea ndl egal de s cr ip ti o no f the F ederal land and non - Federal land descri b ed in paragraph ( 2 ) shall be deter m ined b y s u r v eys approved by the Secretary. (c) AP P LICAB LE L A W .— E xcept as other w ise provided in this section , the Secretary shall carry out the land exchanges under this section in accordance with section 2 06 of the Federal Land P olicy and M anagement Act of 197 6( 4 3 U .S. C . 1716). (d) V ALUA T I ON , APPRAISALS, AN D E Q UALI Z ATION.— (1) I N G ENERAL.—The value of the Federal land and the non-Federal land to be conveyed in a land exchange under this section— (A) shall be e q ual, as determined by appraisals con- ducted in accordance with paragraph (2)
or ( B ) if not equal, shall be equali z ed in accordance with paragraph (3). (2) APPRAISALS.— (A) IN GENERAL.—The Federal land and the non-Fed- eral land to be exchanged under this section shall be appraised by an independent, qualified appraiser that is agreed to by the Secretary and the owner of the non- Federal land to be exchanged. (B) R EQUIRE M ENTS.—An appraisal under subparagraph (A) shall be conducted in accordance with— (i) the Uniform Appraisal Standards for Federal Land Acquisitions; and (ii) the Uniform Standards of Professional Appraisal Practice. (3) EQUALIZATION.— (A) IN GENERAL.—If the value of the Federal land and the non-Federal land to be conveyed in a land exchange under this section is not equal, the value may be equalized by— (i) ma k ing a cash equalization payment to the Secretary or to the owner of the non-Federal land, as appropriate, in accordance with section 206(b) of the Federal Land Policy and Management Act of 1976 (43 U.S.C. 1716(b)); or (ii) reducing the acreage of the Federal land or the non-Federal land to be exchanged, as appropriate. (B) CAS H EQUALIZATION PAYMENTS.—Any cash equali- zation payments received by the Secretary under subpara- graph (A)(i) shall be— (i) deposited in the Federal Land D isposal Account established by section 206(a) of the Federal Land Transaction Facilitation Act (43 U.S.C. 230 5 (a)); and (ii) used in accordance with that Act. (e) CONDITIONS O F E X CHANGE.— (1) IN GENERAL.—The land exchanges under this section shall be sub j ect to such terms and conditions as the Secretary may require. (2) COSTS.—As a condition of a conveyance of Federal land and non-Federal land under this section, the Federal G overn- ment and the owner of the non-Federal land shall equally share all costs relating to the land exchange, including the costs of appraisals, surveys, and any necessary environmental clearances.
