To authorize the exchange of certain land in the State of Colorado.

SECTION 1. SHORT TITLE.
    This Act may be cited as the ``Pitkin County Land Exchange Act of 
2006''.
SEC. 2. PURPOSE.
    The purpose of this Act is to authorize, direct, expedite, and 
facilitate the exchange of land between the United States, Pitkin 
County, Colorado, and the Aspen Valley Land Trust.
SEC. 3. DEFINITIONS.
    In this Act:
        (1) Aspen valley land trust.--
            (A) In general.--The term ``Aspen Valley Land Trust'' means 
        the Aspen Valley Land Trust, a nonprofit organization as 
        described in section 501(c)(3) of the Internal Revenue Code of 
        1986.
            (B) Inclusions.--The term ``Aspen Valley Land Trust'' 
        includes any successor, heir, or assign of the Aspen Valley 
        Land Trust.
        (2) County.--The term ``County'' means Pitkin County, a 
    political subdivision of the State of Colorado.
        (3) Federal land.--The term ``Federal land'' means--
            (A) the approximately 5.5 acres of National Forest System 
        land located in the County, as generally depicted on the map 
        entitled ``Ryan Land Exchange-Wildwood Parcel Conveyance to 
        Pitkin County'' and dated August 2004;
            (B) the 12 parcels of National Forest System land located 
        in the County totaling approximately 5.92 acres, as generally 
        depicted on maps 1 and 2 entitled ``Ryan Land Exchange-Smuggler 
        Mountain Patent Remnants Conveyance to Pitkin County'' and 
        dated August 2004; and
            (C) the approximately 40 acres of Bureau of Land Management 
        land located in the County, as generally depicted on the map 
        entitled ``Ryan Land Exchange-Crystal River Parcel Conveyance 
        to Pitkin County'' and dated August 2004.
        (4) Non-federal land.--The term ``non-Federal land'' means--
            (A) the approximately 35 acres of non-Federal land in the 
        County, as generally depicted on the map entitled ``Ryan Land 
        Exchange-Ryan Property Conveyance to Forest Service'' and dated 
        August 2004; and
            (B) the approximately 18.2 acres of non-Federal land 
        located on Smuggler Mountain in the County, as generally 
        depicted on the map entitled ``Ryan Land Exchange-Smuggler 
        Mountain-Grand Turk & Pontiac Claims Conveyance to Forest 
        Service'' and dated August 2004.
        (5) Secretary.--The term ``Secretary'' means the Secretary of 
    Agriculture.
SEC. 4. LAND EXCHANGE.
    (a) In General.--If the County offers to convey to the United 
States title to the non-Federal land that is acceptable to the 
Secretary, the Secretary and the Secretary of the Interior shall--
        (1) accept the offer; and
        (2) on receipt of acceptable title to the non-Federal land, 
    simultaneously convey to the County, or at the request of the 
    County, to the Aspen Valley Land Trust, all right, title, and 
    interest of the United States in and to the Federal land, except as 
    provided in section 5(d), subject to all valid existing rights and 
    encumbrances.
    (b) Timing.--It is the intent of Congress that the land exchange 
directed by this Act shall be completed not later than 1 year after the 
date of enactment of this Act.
SEC. 5. EXCHANGE TERMS AND CONDITIONS.
    (a) Equal Value Exchange.--The value of the Federal land and non-
Federal land--
        (1) shall be equal; or
        (2) shall be made equal in accordance with subsection (c).
    (b) Appraisals.--The value of the Federal land and non-Federal land 
shall be determined by the Secretary through appraisals conducted in 
accordance with--
        (1) the Uniform Appraisal Standards for Federal Land 
    Acquisitions;
        (2) the Uniform Standards of Professional Appraisal Practice; 
    and
        (3) Forest Service appraisal instructions.
    (c) Equalization of Values.--
        (1) Surplus of non-federal land.--If the final appraised value 
    of the non-Federal land exceeds the final appraised value of the 
    Federal land, the County shall donate to the United States the 
    excess value of the non-Federal land, which shall be considered to 
    be a donation for all purposes of law.
        (2) Surplus of federal land.--
            (A) In general.--If the final appraised value of the 
        Federal land exceeds the final appraised value of the non-
        Federal land, the value of the Federal land and non-Federal 
        land may, as the Secretary and the County determine to be 
        appropriate, be equalized by the County--
                (i) making a cash equalization payment to the 
            Secretary;
                (ii) conveying to the Secretary certain land located in 
            the County, comprising approximately 160 acres, as 
            generally depicted on the map entitled ``Sellar Park 
            Parcel'' and dated August 2004; or
                (iii) using a combination of the methods described in 
            clauses (i) and (ii).
            (B) Disposition and use of proceeds.--
                (i) Disposition of proceeds.--Any cash equalization 
            payment received by the Secretary under clause (i) or (iii) 
            of subparagraph (A) shall be deposited in the fund 
            established by Public Law 90-171 (commonly known as the 
            ``Sisk Act'') (16 U.S.C. 484a).
                (ii) Use of proceeds.--Amounts deposited under clause 
            (i) shall be available to the Secretary, without further 
            appropriation, for the acquisition of land or interests in 
            land in Colorado for addition to the National Forest 
            System.
    (d) Conditions on Certain Conveyances.--
        (1) Conditions on conveyance of crystal river parcel.--
            (A) In general.--As a condition of the conveyance of the 
        parcel of Federal land described in section 3(3)(C) to the 
        County, the County shall agree to--
                (i) provide for public access to the parcel; and
                (ii) require that the parcel shall be used only for 
            recreational, fish and wildlife conservation, and public 
            open space purposes.
            (B) Reversion.--At the option of the Secretary of the 
        Interior, the parcel of land described in section 3(3)(C) shall 
        revert to the United States if the parcel is used for a purpose 
        other than a purpose described in subparagraph (A)(ii).
        (2) Conditions on conveyance of wildwood parcel.--In the deed 
    of conveyance for the parcel of Federal land described in section 
    3(3)(A) to the County, the Secretary shall, as determined to be 
    appropriate by the Secretary, in consultation with the County, 
    reserve to the United States a permanent easement for the location, 
    construction, and public use of the East of Aspen Trail.
SEC. 6. MISCELLANEOUS PROVISIONS.
    (a) Incorporation, Management, and Status of Acquired Land.--
        (1) In general.--Land acquired by the Secretary under this Act 
    shall become part of the White River National Forest.
        (2) Management.--On acquisition, land acquired by the Secretary 
    under this Act shall be administered in accordance with the laws 
    (including rules and regulations) generally applicable to the 
    National Forest System.
        (3) Land and water conservation fund.--For purposes of section 
    7 of the Land and Water Conservation Fund Act of 1965 (16 U.S.C. 
    460l-9), the boundaries of the White River National Forest shall be 
    deemed to be the boundaries of the White River National Forest as 
    of January 1, 1965.
    (b) Revocation of Orders and Withdrawal.--
        (1) Revocation of orders.--Any public orders withdrawing any of 
    the Federal land from appropriation or disposal under the public 
    land laws are revoked to the extent necessary to permit disposal of 
    the Federal land.
        (2) Withdrawal of federal land.--On the date of enactment of 
    this Act, if not already withdrawn or segregated from entry and 
    appropriation under the public land laws (including the mining and 
    mineral leasing laws) and the Geothermal Steam Act of 1970 (30 
    U.S.C. 1001 et seq.), the Federal land is withdrawn, subject to 
    valid existing rights, until the date of the conveyance of the 
    Federal land to the County.
        (3) Withdrawal of non-federal land.--On acquisition of the non-
    Federal land by the Secretary, the non-Federal land is permanently 
    withdrawn from all forms of appropriation and disposal under the 
    public land laws (including the mining and mineral leasing laws) 
    and the Geothermal Steam Act of 1970 (30 U.S.C. 1001 et seq.).
    (c) Boundary Adjustments.--The Secretary, the Secretary of the 
Interior, and the County may agree to--
        (1) minor adjustments to the boundaries of the parcels of 
    Federal land and non-Federal land; and
        (2) modifications or deletions of parcels and mining claim 
    remnants of Federal land or non-Federal land to be exchanged on 
    Smuggler Mountain.

                               Speaker of the House of Representatives.

                            Vice President of the United States and    
                                               President of the Senate.

Summary: Pitkin County Land Exchange Act of 2006 - Directs the Secretary of Agriculture and the Secretary of the Interior, upon receipt of title to certain lands located in Pitkin County, Colorado, and certain lands located on Smuggler Mountain in the County , to convey to the County or to the Aspen Valley Land Trust, if the County so requests, all right, title, and interest of the United States in and to certain National Forest and Bureau of Land Management lands located in the County . Requires the values of the lands exchanged to be equal or to be made equal. Sets forth exchange terms and conditions for: (1) the appraisal of such lands. (2) the equalization of the values of such lands, including by a cash equalization payment made by the County andor conveyance of the Sellar Park land parcel to the Secretary. And (3) the disposition and use of the proceeds received by the Secretary from any such payment. Requires the County, as a condition of the conveyance of the Crystal River parcel to the County, to agree to: (1) provide public access to the parcel. And (2) require that the parcel be used only for recreational, fish, and wildlife conservation, and public open space purposes. Requires the Secretary to reserve to the United States a permanent easement to the Wildwood parcel for the location, construction, and public use of the East of Aspen Trail. States that lands acquired by the Secretary pursuant to this Act shall become part of White River National Forest. Withdraws the non-federal land permanently from all forms of appropriation and disposal under the public land laws, including mining and mineral leasing laws and the Geothermal Steam Act of 1970. Allows the Secretary, the Secretary of the Interior, and the County to agree to: (1) minor adjustments to the boundaries of the federal and non-federal lands. And (2) modifications or deletions of parcels and mining claim remnants of federal land or non-federal land to be exchanged on Smuggler Mountain.