SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Lost Creek Land Exchange Act of 
1994''.

SEC. 2. LAND EXCHANGE.

    (a) General.--Notwithstanding any other provision of law, the 
Secretary of Agriculture (referred to in this Act as the ``Secretary'') 
is authorized and directed to acquire by exchange certain lands and 
interests in lands owned by the Brand S Corporation, its successors and 
assigns, (referred to in this Act as the ``Corporation''), located in 
the Lost Creek area of the Deerlodge National Forest and within the 
Gallatin National Forest.
    (b) Offer and Acceptance of Land.--
            (1) Non-federal land.--If the Corporation offers fee title 
        that is acceptable to the United States to approximately 18,300 
        acres of land owned by the Corporation and available for 
        exchange, as depicted on the map entitled ``Brand S/Forest 
        Service Land Exchange Proposal,'' dated March 1994, and 
        described in the ``Land Exchange Specifications'' document 
        pursuant to paragraph (b)(3), the Secretary shall accept a 
        warranty deed to the land.
            (2) Federal land.--Upon acceptance by the Secretary of 
        title to the Corporation's lands pursuant to paragraph (b)(1), 
        and subject to reservations and valid existing rights, the 
        Secretary of the Interior shall convey, by patent, the fee 
        title to approximately 10,800 acres on the Deerlodge and 
        Gallatin National Forests, and by timber deed, the right to 
        harvest approximately 3.5 million board feet of timber on 
        certain Deerlodge National Forest lands, as depicted on the map 
        referenced in paragraph (b)(1) and further defined by the 
        document referenced in paragraph (b)(3).
            (3) Agreement.--The document entitled ``Brand S/Forest 
        Service Land Exchange Specifications'' which was jointly 
        developed and agreed to by both parties and defines the non-
        Federal and Federal lands involved in this exchange, and 
        includes legal descriptions of exchange lands and interests, an 
        Access Resolution Agreement and other agreements is hereby 
        incorporated by reference.
    (c) Title.--
            (1) Review of title.--Within sixty days of receipt of title 
        documents from the Corporation, the Secretary shall review the 
        title for the non-Federal lands described in paragraph (b) and 
        determine whether--
                    (A) the applicable title standards for Federal land 
                acquisition have been satisfied or the quality of title 
                is otherwise acceptable to the Secretary;
                    (B) all draft conveyances and closing documents 
                have been received and approved; and
                    (C) a current title commitment verifying compliance 
                with applicable title standards has been issued to the 
                Secretary.
            (2) Conveyance of title.--In the event the quality of title 
        does not meet Federal standards or is otherwise unacceptable to 
        the Secretary, the Secretary shall advise the Corporation 
        regarding corrective actions necessary to make an affirmative 
        determination. The Secretary, acting through the Secretary of 
        the Interior, shall effect the conveyance of lands described in 
        paragraph (b)(2) not later than ninety days after the Secretary 
        has made an affirmative determination.
    (d) Resolution of Public Access.--In accordance with the terms of 
the Access Resolution Agreement referenced in paragraph (b)(3), the 
Secretary shall secure legal public road access to Gallatin National 
Forest System lands in--
            (1) the Eightmile Creek area; and
            (2) the Miller Gulch--Fridley Creek--Dry Creek area.

SEC. 3. GENERAL PROVISIONS.

    (a) Maps and Documents.--The maps referred to in section 2 are 
subject to such minor corrections as may be agreed upon by the 
Secretary and the Corporation. The Secretary shall notify the Committee 
on Energy and Natural Resources of the United States Senate and the 
Committee on Natural Resources of the United States House of 
Representatives of any corrections made pursuant to this paragraph. The 
maps and documents described in section 2(b)(1) and (3) shall be on 
file and available for public inspection in the office of Chief, Forest 
Service, United States Department of Agriculture.
    (b) National Forest System Lands.--
            (1) In general.--All lands conveyed to the United States 
        under this Act shall be added to and administered as part of 
        the Deerlodge or Gallatin National Forests, as appropriate, of 
        the National Forest System by the Secretary in accordance with 
        the laws and regulations pertaining to the National Forest 
        System.
            (2) Wilderness study area acquisitions.--Lands acquired 
        within the Hyalite-Porcupine-Buffalo Horn Wilderness Study Area 
        shall be managed to maintain their wilderness character and 
        potential for inclusion in the National Wilderness Preservation 
        System in accordance with the Montana Wilderness Study Act of 
        1977 (16 U.S.C. 1132 note). Subject to valid existing rights, 
        lands acquired within the Hyalite-Porcupine-Buffalo Horn 
        Wilderness Study Area shall not be available for entry, 
        appropriation, or disposal under the public land laws; for 
        location, entry, and patent under the mining laws; or for 
        disposition under the mineral and geothermal leasing laws, 
        including all amendments thereto, until such time as the 
        Congress decides on the wilderness status.
    (c) Valuation.--The values of the lands and interests in lands to 
be exchanged under this Act and described in section 2(b) are deemed to 
be of approximately equal value.
    (d) Hazardous Material Liability.--The United States of America 
including its departments, agencies, and employees, shall not be liable 
under the Comprehensive Environmental Response, Compensation and 
Liability Act, as amended (herein referred to as CERCLA), section 9601 
and the following of title 42, United States Code, or the Clean Water 
Act, section 1251 and the following of title 33, United States Code, or 
any other Federal, State or local law, solely as a result of acquiring 
an interest in the Lost Creek Tract or due to circumstances or events 
occurring before acquisition, including any release or threat of 
release of hazardous substances.
Lost Creek Land Exchange Act of 1994 - Directs the Secretary of Agriculture to acquire certain lands owned by the Brand S Corporation and located in the Lost Creek area of the Deerlodge National Forest and within the Gallatin National Forest (to be added to and administered as part of such National Forests) in exchange for certain lands within such National Forests and specified timber rights on Deerlodge National Forest lands. Directs the Secretary to secure legal public road access to Gallatin National Forest System lands in the Eightmile Creek area and the Miller Gulch-Fridley Creek-Dry Creek area. 
Releases the United States from any liability under Federal, State, or local law solely as a result of acquiring an interest in the Lost Creek Tract or due to circumstances or events occurring before acquisition, including any release or threat of release of hazardous substances.
Lost Creek Land Exchange Act of 1994