Page:United States Statutes at Large Volume 114 Part 3.djvu/874

From Wikisource
Jump to navigation Jump to search
This page needs to be proofread.


114 STAT. 1900A-72 PUBLIC LAW 106-429—APPENDIX A-1 SEC. 4. TRANSFER OF ADMINISTRATIVE JURISDICTION OVER COV- ERED LAND. (a) IN GENERAL.— All covered land is transferred to the administrative jurisdiction of the Secretary to be managed in accordance with the laws (including regulations) pertaining to the National Forest System. (b) AUTHORITY OF SECRETARY OF INTERIOR OVER MINERAL RESOURCES.— The transfer of the covered land shall be subject to the authority of the Secretary of the Interior with respect to mineral resources underlying National Forest System land, including laws pertaining to mineral leasing and the Surface Mining Control and Reclamation Act of 1977 (30 U.S.C. 1201 et seq.). (c) SURFACE MINING. —No surface mining shall be permitted with respect to any covered land except as provided under section 522(e)(2) of the Surface Mining Control and Reclamation Act of 1977 (30 U.S.C. 1272(e)(2)). SEC. 5. MONETARY CREDITS. (a) IN GENERAL.— In consideration for the transfer provided under section 4, the Secretary of the Interior shall provide to the Tennessee Valley Authority monetary credits with a value of $4,000,000 that may be used for the payment of— (1) 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 in the contiguous 48 States under— (A) the Mineral Leasing Act (30 U.S.C. 181 et seq.); (B) the Outer Continental Shelf Lands Act (43 U.S.C. 1331 et seq.); or (C) the Geothermal Steam Act of 1970 (30 U.S.C. 1001 et seq.); (2) not more than 10 percent of the bonus or other pa3ntnents made by successful bidders in any sales of mineral, oil, gas, or geothermal leases in the State of Alaska under the laws referred to in paragraph (1); (3) not more than 5() percent of any royalty, rental, or advance royalty payment made to the United States to maintain any mineral, oil, gas, or geothermal lease in the contiguous 48 States issued under the laws referred to in paragraph (1); or (4) not more than 10 percent of any royalty, rental, or advance royalty pa5anent made to the United States to maintain any mineral, oil, gas, or geothermal lease in the State of Alaska issued under the laws referred to in paragraph (1). (b) VALUE OF CREDITS.— The total amount of credits provided under subsection (a) shall be considered equal to the fair market value of the covered land. (c) ACCEPTANCE OF CREDITS.— (1) IN GENERAL.— The Secretary of the Interior shall accept credits provided under subsection (a) in the same msmner as cash for the payments described under subsection (a). (2) USE OF CREDITS. —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 section. (d) TREATMENT OF CREDITS FOR DISTRIBUTION TO STATES.— All credits accepted by the Secretary of the Interior under subsection (c) for the payments described in subsection (a) shall be considered to be money received for the purpose of section 35 of the Mineral