SECTION 1. CLARIFICATION OF AUTHORITY.

    The Act entitled ``An Act to define the exterior boundary of the 
Uintah and Ouray Indian Reservation in the State of Utah, and for other 
purposes'', approved March 11, 1948 (62 Stat. 72), as amended by the 
Act entitled ``An Act to amend the Act extending the exterior boundary 
of the Uintah and Ouray Indian Reservation in the State of Utah so as 
to authorize such State to exchange certain mineral lands for other 
lands mineral in character'' approved August 9, 1955, (69 Stat. 544), 
is further amended by adding at the end the following:
    ``Sec. 5.  In order to further clarify authorizations under this 
Act, the State of Utah is hereby authorized to relinquish to the United 
States, for the benefit of the Ute Indian Tribe of the Uintah and Ouray 
Reservation, State school trust or other State-owned subsurface mineral 
lands located beneath the surface estate delineated in Public Law 440 
(approved March 11, 1948) and south of the border between Grand County, 
Utah, and Uintah County, Utah, and select in lieu of such relinquished 
lands, on an acre-for-acre basis, any subsurface mineral lands of the 
United States located beneath the surface estate delineated in Public 
Law 440 (approved March 11, 1948) and north of the border between Grand 
County, Utah, and Uintah County, Utah, subject to the following 
conditions:
            ``(1) Reservation by united states.--The Secretary of the 
        Interior shall reserve an overriding interest in that portion 
        of the mineral estate comprised of minerals subject to leasing 
        under the Mineral Leasing Act (30 U.S.C. 171 et seq.) in any 
        mineral lands conveyed to the State.
            ``(2) Extent of overriding interest.--The overriding 
        interest reserved by the United States under paragraph (1) 
        shall consist of--
                    ``(A) 50 percent of any bonus bid or other payment 
                received by the State as consideration for securing any 
                lease or authorization to develop such mineral 
                resources;
                    ``(B) 50 percent of any rental or other payments 
                received by the State as consideration for the lease or 
                authorization to develop such mineral resources;
                    ``(C) a 6.25 percent overriding royalty on the 
                gross proceeds of oil and gas production under any 
                lease or authorization to develop such oil and gas 
                resources; and
                    ``(D) an overriding royalty on the gross proceeds 
                of production of such minerals other than oil and gas, 
                equal to 50 percent of the royalty rate established by 
                the Secretary of the Interior by regulation as of 
                October 1, 2011.
            ``(3) Reservation by state of utah.--The State of Utah 
        shall reserve, for the benefit of its State school trust, an 
        overriding interest in that portion of the mineral estate 
        comprised of minerals subject to leasing under the Mineral 
        Leasing Act (30 U.S.C. 181 et seq.) in any mineral lands 
        relinquished by the State to the United States.
            ``(4) Extent of overriding interest.--The overriding 
        interest reserved by the State under paragraph (3) shall 
        consist of--
                    ``(A) 50 percent of any bonus bid or other payment 
                received by the United States as consideration for 
                securing any lease or authorization to develop such 
                mineral resources on the relinquished lands;
                    ``(B) 50 percent of any rental or other payments 
                received by the United States as consideration for the 
                lease or authorization to develop such mineral 
                resources;
                    ``(C) a 6.25 percent overriding royalty on the 
                gross proceeds of oil and gas production under any 
                lease or authorization to develop such oil and gas 
                resources; and
                    ``(D) an overriding royalty on the gross proceeds 
                of production of such minerals other than oil and gas, 
                equal to 50 percent of the royalty rate established by 
                the Secretary of the Interior by regulation as of 
                October 1, 2011.
            ``(5) No obligation to lease.--Neither the United States 
        nor the State shall be obligated to lease or otherwise develop 
        oil and gas resources in which the other party retains an 
        overriding interest under this section.
            ``(6) Cooperative agreements.--The Secretary of the 
        Interior is authorized to enter into cooperative agreements 
        with the State and the Ute Indian Tribe of the Uintah and Ouray 
        Reservation to facilitate the relinquishment and selection of 
        lands to be conveyed under this section, and the administration 
        of the overriding interests reserved hereunder.
            ``(7) Termination.--The overriding interest reserved by the 
        Secretary of the Interior under paragraph (1), and the 
        overriding interest reserved by the State under paragraph (3), 
        shall automatically terminate 30 years after the date of 
        enactment of this section.''.
Authorizes Utah to relinquish for the benefit of the Ute Indian Tribe of the Uintah and Ouray Reservation certain of its school trust or subsurface mineral lands south of the border between Grand County and Uintah County, Utah, in exchange for certain federal subsurface mineral lands north of that border.

Directs the Secretary of the Interior to reserve an overriding interest in that portion of the mineral estate composed of minerals subject to leasing under the Mineral Leasing Act in the mineral lands conveyed to Utah. Delineates the extent of that interest.

Requires Utah to reserve, for the benefit of its school trust, an overriding interest in that portion of the mineral estate composed of minerals subject to leasing under the Mineral Leasing Act in the mineral lands it relinquished to the federal government. Delineates the extent of that interest.

Terminates the overriding interests reserved by the Secretary and Utah 30 years after this Act's enactment.
A bill to clarify authority granted under the Act entitled "An Act to define the exterior boundary of the Uintah and Ouray Indian Reservation in the State of Utah, and for other purposes".