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[Senate Report 111-321]
[From the U.S. Government Publishing Office]

                                                       Calendar No. 607
111th Congress                                                   Report
                                 SENATE
 2d Session                                                     111-321

======================================================================

 
            VALLES CALDERA NATIONAL PRESERVE MANAGEMENT ACT

                                _______
                                

               September 27, 2010.--Ordered to be printed

                                _______
                                

   Mr. Bingaman, from the Committee on Energy and Natural Resources, 
                        submitted the following

                              R E P O R T

                         [To accompany S. 3452]

    The Committee on Energy and Natural Resources, to which was 
referred the bill (S. 3452) to designate the Valles Caldera 
National Preserve as a unit of the National Park System, and 
for other purposes, having considered the same, reports 
favorably thereon with an amendment and recommends that the 
bill, as amended, do pass.
    The amendment is as follows:
    Strike out all after the enacting clause and insert in lieu 
thereof the following:

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Valles Caldera National Preserve 
Management Act''.

SEC. 2. DEFINITIONS.

    In this Act:
          (1) Eligible employee.--The term ``eligible employee'' means 
        a person who was a full-time or part-time employee of the Trust 
        during the 180-day period immediately preceding the date of 
        enactment of this Act.
          (2) Fund.--The term ``Fund'' means the Valles Caldera Fund 
        established by section 106(h)(2) of the Valles Caldera 
        Preservation Act (16 U.S.C. 698v-4(h)(2)).
          (3) Preserve.--The term ``Preserve'' means the Valles Caldera 
        National Preserve in the State.
          (4) Secretary.--The term ``Secretary'' means the Secretary of 
        the Interior.
          (5) State.--The term ``State'' means the State of New Mexico.
          (6) Trust.--The term ``Trust'' means the Valles Caldera Trust 
        established by section 106(a) of the Valles Caldera 
        Preservation Act (16 U.S.C. 698v-4(a)).

SEC. 3. VALLES CALDERA NATIONAL PRESERVE.

    (a) Designation as Unit of the National Park System.--To protect, 
preserve, and restore the fish, wildlife, watershed, natural, 
scientific, scenic, geologic, historic, cultural, archaeological, and 
recreational values of the area, the Valles Caldera National Preserve 
is designated as a unit of the National Park System.
    (b) Management.--
          (1) Applicable law.--The Secretary shall administer the 
        Preserve in accordance with--
                  (A) this Act; and
                  (B) the laws generally applicable to units of the 
                National Park System, including--
                          (i) the National Park Service Organic Act (16 
                        U.S.C. 1 et seq.); and
                          (ii) the Act of August 21, 1935 (16 U.S.C. 
                        461 et seq.).
          (2) Management coordination.--The Secretary may coordinate 
        the management and operations of the Preserve with the 
        Bandelier National Monument.
          (3) Management plan.--
                  (A) In general.--Not later than 3 fiscal years after 
                the date on which funds are made available to implement 
                this subsection, the Secretary shall prepare a 
                management plan for the Preserve.
                  (B) Applicable law.--The management plan shall be 
                prepared in accordance with--
                          (i) section 12(b) of Public Law 91-383 
                        (commonly known as the ``National Park Service 
                        General Authorities Act'') (16 U.S.C. 1a-7(b)); 
                        and
                          (ii) any other applicable laws.
                  (C) Consultation.--The management plan shall be 
                prepared in consultation with--
                          (i) the Secretary of Agriculture;
                          (ii) State and local governments;
                          (iii) Indian tribes and pueblos, including 
                        the Pueblos of Jemez, Santa Clara, and San 
                        Ildefonso; and
                          (iv) the public.
    (c) Acquisition of Land.--
          (1) In general.--The Secretary may acquire land and interests 
        in land within the boundaries of the Preserve by--
                  (A) purchase with donated or appropriated funds;
                  (B) donation; or
                  (C) transfer from another Federal agency.
          (2) Administration of acquired land.--On acquisition of any 
        land or interests in land under paragraph (1), the acquired 
        land or interests in land shall be administered as part of the 
        Preserve.
    (d) Science and Education Program.--
          (1) In general.--The Secretary shall--
                  (A) until the date on which a management plan is 
                completed in accordance with subsection (b)(3), carry 
                out the science and education program for the Preserve 
                established by the Trust; and
                  (B) beginning on the date on which a management plan 
                is completed in accordance with subsection (b)(3), 
                establish a science and education program for the 
                Preserve that--
                          (i) allows for research and interpretation of 
                        the natural, historic, cultural, geologic and 
                        other scientific features of the Preserve;
                          (ii) provides for improved methods of 
                        ecological restoration and science-based 
                        adaptive management of the Preserve; and
                          (iii) promotes outdoor educational 
                        experiences in the Preserve.
          (2) Science and education center.--As part of the program 
        established under paragraph (1)(B), the Secretary may establish 
        a science and education center outside the boundaries of the 
        Preserve.
    (e) Grazing.--The Secretary may allow the grazing of livestock 
within the Preserve to continue--
          (1) consistent with this Act; and
          (2) to the extent the use furthers scientific research or 
        interpretation of the ranching history of the Preserve.
    (f) Fish and Wildlife.--Nothing in this Act affects the 
responsibilities of the State with respect to fish and wildlife in the 
State, except that the Secretary, in consultation with the New Mexico 
Department of Game and Fish--
          (1) shall permit hunting and fishing on land and water within 
        the Preserve in accordance with applicable Federal and State 
        laws; and
          (2) may designate zones in which, and establish periods 
        during which, no hunting or fishing shall be permitted for 
        reasons of public safety, administration, the protection of 
        wildlife and wildlife habitats, or public use and enjoyment.
    (g) Ecological Restoration.--
          (1) In general.--The Secretary shall undertake activities to 
        improve the health of forest, grassland, and riparian areas 
        within the Preserve, including any activities carried out in 
        accordance with title IV of the Omnibus Public Land Management 
        Act of 2009 (16 U.S.C. 7301 et seq.).
          (2) Cooperative agreements.--The Secretary may enter into 
        cooperative agreements with adjacent pueblos to coordinate 
        activities carried out under paragraph (1) on the Preserve and 
        adjacent pueblo land.
    (h) Withdrawal.--Subject to valid existing rights, all land and 
interests in land within the boundaries of the Preserve are withdrawn 
from--
          (1) entry, disposal, or appropriation under the public land 
        laws;
          (2) location, entry, and patent under the mining laws; and
          (3) operation of the mineral leasing laws, geothermal leasing 
        laws, and mineral materials laws.
    (i) Volcanic Domes and Other Peaks.--
          (1) In general.--Except as provided in paragraph (3), for the 
        purposes of preserving the natural, cultural, religious, 
        archaeological, and historic resources of the volcanic domes 
        and other peaks in the Preserve described in paragraph (2) 
        within the area of the domes and peaks above 9,600 feet in 
        elevation or 250 feet below the top of the dome, whichever is 
        lower--
                  (A) no roads or buildings shall be constructed; and
                  (B) no motorized access shall be allowed.
          (2) Description of volcanic domes.--The volcanic domes and 
        other peaks referred to in paragraph (1) are--
                  (A) Redondo Peak;
                  (B) Redondito;
                  (C) South Mountain;
                  (D) San Antonio Mountain;
                  (E) Cerro Seco;
                  (F) Cerro San Luis;
                  (G) Cerros Santa Rosa;
                  (H) Cerros del Abrigo;
                  (I) Cerro del Medio;
                  (J) Rabbit Mountain;
                  (K) Cerro Grande;
                  (L) Cerro Toledo;
                  (M) Indian Point;
                  (N) Sierra de los Valles; and
                  (O) Cerros de los Posos.
          (3) Exception.--Paragraph (1) shall not apply in cases in 
        which construction or motorized access is necessary for 
        administrative purposes (including ecological restoration 
        activities or measures required in emergencies to protect the 
        health and safety of persons in the area).
    (j) Traditional Cultural and Religious Sites.--
          (1) In general.--The Secretary, in consultation with Indian 
        tribes and pueblos, shall ensure the protection of traditional 
        cultural and religious sites in the Preserve.
          (2) Access.--The Secretary, in accordance with Public Law 95-
        341 (commonly known as the ``American Indian Religious Freedom 
        Act'') (42 U.S.C. 1996)--
                  (A) shall provide access to the sites described in 
                paragraph (1) by members of Indian tribes or pueblos 
                for traditional cultural and customary uses; and
                  (B) may, on request of an Indian tribe or pueblo, 
                temporarily close to general public use 1 or more 
                specific areas of the Preserve to protect traditional 
                cultural and customary uses in the area by members of 
                the Indian tribe or pueblo.
          (3) Prohibition on motorized access.--The Secretary shall 
        maintain prohibitions on the use of motorized or mechanized 
        travel on Preserve land located adjacent to the Santa Clara 
        Indian Reservation, to the extent the prohibition was in effect 
        on the date of enactment of this Act.
    (k) Caldera Rim Trail.--
          (1) In general.--Not later than 3 years after the date of 
        enactment of this Act, the Secretary, in consultation with the 
        Secretary of Agriculture, affected Indian tribes and pueblos, 
        and the public, shall study the feasibility of establishing a 
        hiking trail along the rim of the Valles Caldera on--
                  (A) land within the Preserve; and
                  (B) National Forest System land that is adjacent to 
                the Preserve.
          (2) Agreements.--On the request of an affected Indian tribe 
        or pueblo, the Secretary and the Secretary of Agriculture shall 
        seek to enter into an agreement with the Indian tribe or pueblo 
        with respect to the Caldera Rim Trail that provides for the 
        protection of--
                  (A) cultural and religious sites in the vicinity of 
                the trail; and
                  (B) the privacy of adjacent pueblo land.
    (l) Valid Existing Rights.--Nothing in this Act affects valid 
existing rights.

SEC. 4. TRANSFER OF ADMINISTRATIVE JURISDICTION.

    (a) In General.--Administrative jurisdiction over the Preserve is 
transferred from the Secretary of Agriculture and the Trust to the 
Secretary, to be administered as a unit of the National Park System, in 
accordance with section 3.
    (b) Exclusion From Santa Fe National Forest.--The boundaries of the 
Santa Fe National Forest are modified to exclude the Preserve.
    (c) Interim Management.--
          (1) Memorandum of agreement.--Not later than 90 days after 
        the date of enactment of this Act, the Secretary and the Trust 
        shall enter into a memorandum of agreement to facilitate the 
        orderly transfer to the Secretary of the administration of the 
        Preserve.
          (2) Existing management plans.--Notwithstanding the repeal 
        made by section 5(a), until the date on which the Secretary 
        completes a management plan for the Preserve in accordance with 
        section 3(b)(3), the Secretary may administer the Preserve in 
        accordance with any management activities or plans adopted by 
        the Trust under the Valles Caldera Preservation Act (16 U.S.C. 
        698v et seq.), to the extent the activities or plans are 
        consistent with section 3(b)(1).
          (3) Public use.--The Preserve shall remain open to public use 
        during the interim management period, subject to such terms and 
        conditions as the Secretary determines to be appropriate.
    (d) Valles Caldera Trust.--
          (1) Termination.--The Trust shall terminate 180 days after 
        the date of enactment of this Act unless the Secretary 
        determines that the termination date should be extended to 
        facilitate the transitional management of the Preserve.
          (2) Assets and liabilities.--
                  (A) Assets.--On termination of the Trust--
                          (i) all assets of the Trust shall be 
                        transferred to the Secretary; and
                          (ii) any amounts appropriated for the Trust 
                        shall remain available to the Secretary for the 
                        administration of the Preserve.
                  (B) Assumption of obligations.--
                          (i) In general.--On termination of the Trust, 
                        the Secretary shall assume all contracts, 
                        obligations, and other liabilities of the 
                        Trust.
                          (ii) New liabilities.--
                                  (I) Budget.--Not later than 90 days 
                                after the date of enactment of this 
                                Act, the Secretary and the Trust shall 
                                prepare a budget for the interim 
                                management of the Preserve.
                                  (II) Written concurrence required.--
                                The Trust shall not incur any new 
                                liabilities not authorized in the 
                                budget prepared under subclause (I) 
                                without the written concurrence of the 
                                Secretary.
          (3) Personnel.--
                  (A) Hiring.--The Secretary and the Secretary of 
                Agriculture may hire employees of the Trust on a 
                noncompetitive basis for comparable positions at the 
                Preserve or other areas or offices under the 
                jurisdiction of the Secretary or the Secretary of 
                Agriculture.
                  (B) Salary.--Any employees hired from the Trust under 
                subparagraph (A) shall be subject to the provisions of 
                chapter 51, and subchapter III of chapter 53, title 5, 
                United States Code, relating to classification and 
                General Schedule pay rates.
                  (C) Interim retention of eligible employees.--For a 
                period of not less than 180 days beginning on the date 
                of enactment of this Act, all eligible employees of the 
                Trust shall be--
                          (i) retained in the employment of the Trust;
                          (ii) considered to be placed on detail to the 
                        Secretary; and
                          (iii) subject to the direction of the 
                        Secretary.
                  (D) Termination for cause.--Nothing in this paragraph 
                precludes the termination of employment of an eligible 
                employee for cause during the period described in 
                subparagraph (C).
          (4) Records.--The Secretary shall have access to all records 
        of the Trust pertaining to the management of the Preserve.
          (5) Valles caldera fund.--
                  (A) In general.--Effective on the date of enactment 
                of this Act, the Secretary shall assume the powers of 
                the Trust over the Fund.
                  (B) Availability and use.--Any amounts in the Fund as 
                of the date of enactment of this Act shall be available 
                to the Secretary for use, without further 
                appropriation, for the management of the Preserve.

SEC. 5. REPEAL OF VALLES CALDERA PRESERVATION ACT.

    (a) Repeal.--On the termination of the Trust, the Valles Caldera 
Preservation Act (16 U.S.C. 698v et seq.) is repealed.
    (b) Effect of Repeal.--Notwithstanding the repeal made by 
subsection (a)--
          (1) the authority of the Secretary of Agriculture to acquire 
        mineral interests under section 104(e) of the Valles Caldera 
        Preservation Act (16 U.S.C. 698v-2(e)) is transferred to the 
        Secretary and any proceeding for the condemnation of, or 
        payment of compensation for, an outstanding mineral interest 
        pursuant to the transferred authority shall continue;
          (2) the provisions in section 104(g) of the Valles Caldera 
        Preservation Act (16 U.S.C. 698v-2(g)) relating to the Pueblo 
        of Santa Clara shall remain in effect; and
          (3) the Fund shall not be terminated until all amounts in the 
        Fund have been expended by the Secretary.
    (c) Boundaries.--The repeal of the Valles Caldera Preservation Act 
(16 U.S.C. 698v et seq.) shall not affect the boundaries as of the date 
of enactment of this Act (including maps and legal descriptions) of--
          (1) the Preserve;
          (2) the Santa Fe National Forest (other than the modification 
        made by section 4(b));
          (3) Bandelier National Monument; and
          (4) any land conveyed to the Pueblo of Santa Clara.

SEC. 6. AUTHORIZATION OF APPROPRIATIONS.

    There are authorized to be appropriated such sums as are necessary 
to carry out this Act.

                                Purpose

    The purpose of S. 3452 is to transfer administrative 
jurisdiction over the Valles Caldera National Preserve from the 
Valles Caldera Trust to the National Park Service to administer 
as a unit of the National Park System.

                          Background and Need

    The Valles Caldera in northern New Mexico is one of only 
three supervolcanoes in the United States and one of six in the 
world. The Valles Caldera is the oldest of the three 
supervolcanoes (having formed 1.25 million years ago), and it 
also is the smallest. Yet the caldera rim spans more than 
100,000 acres, and the eruption created a volcanic ash plume 
that stretched from northern Utah to central Kansas. The Valles 
Caldera has been thoroughly studied, and it provides an 
excellent opportunity for both experts and the public to learn 
about large volcanic eruptions and their impacts on surrounding 
landscapes while experiencing one of the world's best examples 
of an intact resurgent caldera.
    The Valles Caldera's expansive grassland valleys, 
meandering headwaters of the Jemez River, and forested 
mountains offer outstanding scenery and provide habitat to a 
variety of wildlife including peregrine falcons and bald 
eagles, trout, and a 3,000-strong elk herd. In 1975, the Valles 
Caldera received formal recognition as an outstanding and 
nationally significant geologic resource when it was designated 
a National Natural Landmark.
    In 2000, Congress passed the Valles Caldera Preservation 
Act (Public Law 106-248; 16 U.S.C. 698v et seq.), which 
authorized the United States to acquire the Valles Caldera from 
its private owners. The legislation provided for the 
establishment of the Valles Caldera National Preserve 
(Preserve) and provided for it to be administered by the Valles 
Caldera Trust (Trust). The Trust operates under an experimental 
management framework in which a Presidentially appointed Board 
of Trustees manages the Preserve to protect and preserve the 
scientific, scenic, geologic, watershed, fish, wildlife, 
historic, cultural, and recreational values of the Preserve, 
and to provide for the use of its renewable resources. The 
legislation also directed the Trust to prepare a budget with a 
goal of becoming financially self-sustaining by 2015.
    The Valles Caldera Preservation Act also provided that the 
Trust would terminate at the end of the twentieth full fiscal 
year following acquisition of the Baca ranch. The law further 
provided that ``in the event of termination of the Trust, the 
Secretary [of Agriculture] shall assume all management and 
administrative functions over the Preserve, and it shall 
thereafter be managed as a part of the Santa Fe National 
Forest, subject to all laws applicable to the National Forest 
System.'' Upon passage of the Act, the Federal government 
acquired the property for approximately $100 million.
    In the ten years since the establishment of the Preserve, 
there have been concerns that the management framework is not 
working and has resulted in limited public access. For example, 
in Fiscal Year 2009, the 89,000-acre Preserve received 15,581 
visitors compared to 212,544 visitors at the adjacent 34,000-
acre Bandelier National Monument, which is administered by the 
National Park Service.
    In October of 2009, the Government Accountability Office 
released a report (GAO-1084) stating that the Preserve was at 
least five years behind schedule in the development of an 
effective management control system and that the goal of 
becoming financially self-sustaining by 2015 remained the 
Trust's biggest challenge and would be difficult to achieve. 
The report noted that a recent revenue enhancement study 
commissioned by the Valles Caldera Trust estimated the need for 
at least $21 million for infrastructure improvements to support 
greater public access. In addition, the report stated that the 
Trust had failed to establish key elements of an effective 
management program, including that it lacked a strategic plan 
and had not met the requirements for performance planning, 
monitoring, or reporting as required by the Government 
Performance and Results Act.
    In December 2009, the National Park Service completed a 
reconnaissance study at the request of Senators Bingaman and 
Tom Udall. The study, which updated the Park Service's 1979 
feasibility study regarding the designation of the Valles 
Caldera as a unit of the National Park System, found that the 
Valles Caldera possesses nationally significant geologic 
resources and meets the suitability and feasibility 
requirements necessary for inclusion in the National Park 
System.

                          Legislative History

    S. 3452 was introduced on May 27, 2010, by Senators 
Bingaman and Udall of New Mexico. On June 30, 2010, the 
Committee on Energy and Natural Resources held a hearing on the 
bill. At its business meeting on August 5, 2010, the Committee 
on Energy and Natural Resources ordered S. 3452 favorably 
reported with an amendment in the nature of a substitute.

                        Committee Recommendation

    The Senate Committee on Energy and Natural Resources, in an 
open business session on August 5, 2010, by voice vote of a 
quorum present, recommends that the Senate pass S. 3452, if 
amended as described herein.

                          Committee Amendment

    During the consideration of S. 3452, the Committee adopted 
an amendment in the nature of a substitute. The amendment makes 
several changes to clarify and improve the transition and 
subsequent management of the Valles Caldera National Preserve 
to the National Park Service. Among those changes, the 
amendment modifies the definition of an eligible employee of 
the Valles Caldera Trust to clarify which employees the 
provisions of the bill addressing transition issues applies to; 
adds restoration as a purpose of the designation of the 
National Preserve as a unit of the National Park System; 
clarifies provisions related to the coordination of management 
with Bandelier National Monument; expands the goals of the 
science and education program; and removes a provision limiting 
livestock grazing within the Preserve to specified areas.
    The amendment adds a provision directing the Secretary of 
the Interior to undertake ecological restoration activities to 
improve the health of forest, grassland, and riparian areas 
within the Preserve. The amendment also modifies the provision 
in the bill establishing elevation limits on development and 
motorized access restrictions on the volcanic domes and other 
peaks within the Preserve to be consistent with ongoing 
environmental analyses regarding public access and use.
    Finally, the amendment includes a requirement that the 
Preserve remain open to the public during the interim 
management period, clarifies the effect of the repeal of the 
Valles Caldera Preservation Act (16 U.S.C. 698v et seq.) with 
regard to geographic boundaries, mineral interests, and 
provisions relating to the Pueblo of Santa Clara, and makes 
other minor clarifying, technical, and conforming changes.
    The amendment is explained in detail in the section-by-
section analysis below.

                      Section-by-Section Analysis

    Section 1 contains the short title: the ``Valles Caldera 
National Preserve Management Act''.
    Section 2 defines key terms used in the bill.
    Section 3(a) designates the 89,000-acre Preserve as a unit 
of the National Park System to protect, preserve, and restore 
the fish, wildlife, watershed, natural, scientific, scenic, 
geologic, historic, cultural, archaeological, and recreational 
values of the area.
    Subsection (b) directs the Secretary of the Interior 
(``Secretary'') to manage the Preserve in accordance with the 
provisions of the bill and the laws generally applicable to 
units of the National Park System and authorizes the Secretary 
to coordinate management and operations of the Preserve with 
Bandelier National Monument. It also requires the Secretary to 
prepare a management plan within 3 years of the date that funds 
are made available to the Secretary to administer the Preserve.
    Subsection (c) authorizes the Secretary to acquire land and 
interests in land within the boundaries of the Preserve to be 
managed as part of the Preserve.
    Subsection (d) directs the Secretary to carry out the 
existing science and education program established by the Trust 
until the Secretary completes the management plan for the 
Preserve, at which time it directs the Secretary to establish a 
science and education program that allows for research and 
interpretation, provides for improved methods of ecological 
restoration and science-based adaptive management, and promotes 
outdoor educational experiences in the Preserve. The Secretary 
is authorized to establish a science and education center 
outside of the boundaries of the Preserve.
    Subsection (e) authorizes the Secretary to permit the 
grazing of livestock in the Preserve to the extent that it is 
consistent with the purposes and other provisions of the bill 
and that it furthers scientific research or interpretation of 
the ranching history of the Preserve.
    Subsection (f) states that nothing in the Act affects the 
responsibilities of the State of New Mexico over fish and 
wildlife and directs the Secretary to permit hunting and 
fishing on the Preserve except in designated zones in which, 
and during periods when, no hunting or fishing is permitted for 
reasons of public safety, administration, protection of 
wildlife and wildlife habitats, or public use and enjoyment.
    Subsection (g) requires the Secretary to undertake 
activities to improve the ecosystem health of the Preserve, 
including through any activities carried out in accordance with 
title IV of the Omnibus Public Land Management Act of 2009 (16 
U.S.C. 7301 et seq.), commonly known as the Forest Landscape 
Restoration Act. The Committee notes that on August 13, 2010, 
the Secretary of Agriculture announced the selection of the 
Southwest Jemez Mountains landscape restoration project (a 
portion of which will take place within the Preserve) for long-
term funding through the Forest Landscape Restoration Act. This 
provision, in concert with the other provisions of the bill, 
clarifies that the project can continue under National Park 
Service management in accordance with the Forest Landscape 
Restoration Act without interruption. The particular 
restoration project is consistent with the requirements of that 
Act whether or not the Preserve remains a part of the National 
Forest System or becomes part of the National Park System. The 
subsection also authorizes the Secretary to enter into 
cooperative agreements with adjacent pueblos to coordinate 
restoration activities on the Preserve and adjacent pueblo 
land.
    Subsection (h) withdraws, subject to valid existing rights, 
all land within the boundaries of the Preserve from disposal 
and mineral development.
    Subsection (i) expands restrictions on motorized access and 
the construction of roads and buildings on the volcanic domes 
and other peaks within the Preserve above 9,600 feet or 250 
feet below the top of the dome (whichever is lower), except as 
necessary for administrative purposes.
    Subsection (j) requires the Secretary, in consultation with 
Indian tribes and pueblos, to ensure the protection of 
traditional cultural and religious sites in the Preserve. As 
provided by the American Indian Religious Freedom Act, this 
subsection also requires the Secretary to provide members of 
Indian tribes and pueblos access to these sites for traditional 
cultural and customary uses and authorizes the Secretary to 
temporarily close areas of the Preserve to the general public 
in order to protect traditional cultural and customary uses by 
members of Indian tribes and pueblos. In addition, the 
subsection directs the Secretary to continue restrictions on 
motorized use in the Preserve adjacent to the Santa Clara 
Indian Reservation.
    Subsection (k) directs the Secretary to study the 
feasibility of establishing a hiking trail along the rim of the 
Valles Caldera.
    Subsection (l) clarifies that nothing in the bill affects 
valid existing rights.
    Section 4(a) transfers administrative jurisdiction over the 
Preserve from the Secretary of Agriculture and the Valles 
Caldera Trust to the Secretary, to be administered as a unit of 
the National Park System.
    Subsection (b) modifies the boundaries of the Santa Fe 
National Forest to exclude the Preserve.
    Subsection (c) directs the Secretary and the Trust to enter 
into a memorandum of agreement to facilitate the orderly 
transfer of the management of the Preserve and generally 
authorizes the Secretary to continue existing management 
activities and use plans adopted by the Trust until a new 
management plan is completed. It also generally requires that 
the Preserve remain open to public use during the interim 
management period.
    Subsection (d)(1) terminates the Trust 180 days after the 
date of enactment of the bill unless the Secretary extends the 
termination date to facilitate the transitional management of 
the Preserve.
    Paragraph (2) transfers--upon the termination of the 
Trust--all assets, appropriated funds, contracts, obligations, 
and liabilities of the Trust to the Secretary; directs the 
Secretary and Trust to jointly develop a budget for the interim 
management of the Preserve; and provides that any liabilities 
incurred by the Trust after the date of enactment of the bill 
must be authorized by that budget or with the written 
concurrence of the Secretary.
    Paragraph (3) authorizes the Secretary and Secretary of 
Agriculture to hire employees of the Trust on a non-competitive 
basis. It also provides that certain employees of the Trust are 
to be retained in employment unless terminated for-cause, and 
are to be considered to be placed on detail to, and subject to 
the direction of, the Secretary.
    Paragraph (4) provides that the Secretary shall have access 
to all records of the Trust pertaining to the management of the 
Preserve.
    Paragraph (5) gives the Secretary the powers of the Trust 
over the Valles Caldera Fund and provides that amounts in the 
Fund shall be available to the Secretary, without further 
appropriation, beginning on the date of enactment of the bill.
    Section 5(a) repeals the Valles Caldera Preservation Act 
upon termination of the Trust.
    Subsection (b) provides that, notwithstanding the repeal, 
certain authority of the Secretary of Agriculture to acquire 
mineral interests in the Preserve are transferred to the 
Secretary and any proceedings to do so shall continue, certain 
provisions relating to the Pueblo of Santa Clara shall remain 
in effect, and the Valles Caldera Fund shall not be terminated 
until all amounts in the Fund have been expended by the 
Secretary.
    Subsection (c) clarifies that the repeal does not affect 
the existing boundaries of the Preserve, Bandelier National 
Monument, any land conveyed to the Pueblo of Santa Clara, or 
the Santa Fe National Forest (with the exception of the 
modification made by section 4(b)).
    Section 6 authorizes the appropriation of such sums as are 
necessary.

                   Cost and Budgetary Considerations

    The following estimate of costs of this measure has been 
provided by the Congressional Budget Office:

S. 3452--Valles Caldera National Preserve Management Act

    S. 3452 would transfer administrative jurisdiction of the 
Valles Caldera Preserve in New Mexico from the Forest Service 
to the National Park Service (NPS). Assuming appropriation of 
the necessary amounts, CBO estimates that implementing S. 3452 
would increase discretionary spending by $16 million over the 
2011-2015 period and by $16 million over the following five 
years. Enacting the legislation would not affect revenues and 
would have no net effect on direct spending; therefore, pay-as-
you-go procedures do not apply.
    S. 3452 contains no intergovernmental or private-sector 
mandates as defined in the Unfunded Mandates Reform Act and 
would impose no costs on state, local, or tribal governments.
    Under S. 3452, the Valles Caldera National Preserve would 
become a unit of the National Park System rather than the 
National Forest System. The preserve would then be managed by 
the NPS rather than the Valles Caldera Trust--a wholly owned, 
government-sponsored corporation. (The 89,000-acre preserve was 
established in 2000.) Assets and liabilities of the Valles 
Calder Trust Fund would transfer to the NPS along with 
authority to spend amounts in the trust fund without 
appropriation. Under the bill, the NPS could continue to allow 
grazing on preserve lands as well as hunting, fishing, and 
other recreational activities.
    As required by the bill, the agency would complete various 
required management plans and feasibility studies for the 
preserve over the next three years, including plans to develop 
the preserve, acquire 40 acres of private land in the area, and 
operate the preserve's science and education center. Finally, 
land within the preserve would be withdrawn from commercial 
purposes such as mining.
    Based on information provided by the Forest Service and the 
NPS, CBO estimates that the discretionary costs of 
administering the preserve would increase by about $1 million 
annually (from the current level of just under $4 million). The 
additional funding would be used initially for required 
management planning and studies and later to improve routine 
operations and maintenance. In addition, CBO estimates that $22 
million would be spent over the next 10 years to develop 
facilities for maintenance, administrative, and recreation 
purposes.
    CBO expects that offsetting receipts and associated direct 
spending under the bill would be about that same as under 
current law. The NPS would collect receipts currently collected 
by the trust (primarily from recreation fees earning less than 
$1 million annually) and would spend such amounts to benefit 
the preserve. The spending of balances in the Valles Caldera 
Trust Fund, if any, would also be unchanged. Finally, we 
estimate that withdrawing land within the preserve from 
commercial activities such as mining would not reduce 
offsetting receipts because that land is not expected to 
generate any such amounts.
    The CBO staff contact for this estimate is Deborah Reis. 
The estimate was approved by Theresa Gullo, Deputy Assistant 
Director for Budget Analysis.

                      Regulatory Impact Evaluation

    In compliance with paragraph 11(b) of rule XXVI of the 
Standing Rules of the Senate, the Committee makes the following 
evaluation of the regulatory impact which would be incurred in 
carrying out S. 3452.
    The bill is not a regulatory measure in the sense of 
imposing Government-established standards or significant 
economic responsibilities on private individuals and 
businesses.
    No personal information would be collected in administering 
the program. Therefore, there would be no impact on personal 
privacy.
    Little, if any, additional paperwork would result from the 
enactment of S. 3452.

                   Congressionally Directed Spending

    S. 3452, as reported, does not contain any congressionally 
directed spending items, limited tax benefits, or limited 
tariff benefits as defined in rule XLIV of the Standing Rules 
of the Senate.

                        Executive Communications

    The views of the Department of the Interior, Department of 
Agriculture, and Valles Caldera Trust were included in 
testimony received by the Committee at the June 30, 2010, 
hearing on S. 3452, which is printed below:

 Statement of Daniel N. Wenk, Deputy Director, National Park Service, 
                       Department of the Interior

    Mr. Chairman and members of the Committee, thank you for 
the opportunity to appear before you today to present the 
Department of the Interior's views on S. 3452, to designate the 
Valles Caldera National Preserve as a unit of the National Park 
System, and for other purposes.
    The Department supports the protection of the nationally 
significant natural and cultural resources found at the Valles 
Caldera National Preserve. We would like to work with the 
committee to determine the management structure that will 
provide the highest level of protection and care for the unique 
resources that are found within the Valles Caldera.
    S. 3452 would designate the Valles Caldera National 
Preserve (Preserve), in New Mexico as a unit of the National 
Park System, transferring administrative jurisdiction of the 
Preserve to the Secretary of the Interior (Secretary). The bill 
would repeal the Valles Caldera Preservation Act and all assets 
and liabilities of the Valles Caldera Trust (Trust) would be 
transferred to the Secretary. The bill would also authorize the 
Secretary to coordinate management and operations of the 
Preserve with Bandelier National Monument. If S. 3452 is 
enacted, we look forward to working with the Trust to develop a 
management plan and capitalize on the proximity of Bandelier 
National Monument for efficiency of operations, while applying 
Service First principles of sharing resources as appropriate 
with the surrounding National Forest.
    S. 3452 would authorize grazing, hunting, and fishing to 
continue within the Preserve and the bill would require the 
Secretary to ensure the protection of traditional cultural and 
religious sites including providing tribal access to the sites 
and temporarily closing specific areas of the Preserve to 
protect traditional uses. The National Park Service (NPS) has a 
long history of consultation with First Americans in the 
preservation and continuation of traditional practices.
    Finally, S. 3452 would require that eligible Trust 
employees be retained for at least 180 days from the date of 
enactment and the Secretary and the Secretary of Agriculture 
would be authorized to hire Trust employees on a noncompetitive 
basis for comparable positions at the Preserve or other units 
of the National Park or National Forest Systems in New Mexico.
    The Valles Caldera National Preserve is an 88,900 acre unit 
of the National Forest System located in the Jemez Mountains of 
north central New Mexico. The Preserve was established by 
Public Law 106-248, the Valles Caldera Preservation Act of 
2000, and is managed by the Valles Caldera Trust, a wholly 
owned government corporation established under the Act. The 
Trust is charged with mixing elements of both private and 
public administration while working to achieve resource 
protection, public enjoyment, and financial self sufficiency 
goals.
    The Valles Caldera is considered to be one of the world's 
best intact examples of a resurgent caldera (the remains of a 
huge and ancient volcano with a prominent uplift at its center, 
in this case present-day Redondo Peak) and is of sufficient 
size and configuration to allow for long-term sustainable 
resource protection and visitor enjoyment. The geologic 
features of the Preserve retain a high degree of integrity and 
the Preserve's unique setting of expansive grasslands and 
montane forests provides outstanding scenic values and an array 
of opportunities for public recreation, reflection, education, 
and scientific study.
    The national significance of the geological resources of 
the Valles Caldera was formally recognized in 1975 when the 
area was designated a National Natural Landmark. Additionally, 
the Valles Caldera was the subject of site investigations and 
new area studies that were completed by the National Park 
Service (NPS) in 1939, 1964, 1977, and 1979. An Update Report 
on the NPS 1979 New Area Study was completed by NPS in December 
of 2009 at the request of Senators Bingaman and Tom Udall. All 
of these NPS studies found that the Valles Caldera was 
nationally significant, suitable and feasible for designation 
as a unit of the National Park System , and the 2009 Update 
Report reaffirmed the results of the prior studies. In 
addition, the Forest Service, pursuant to Public Law 101-556, 
also completed a study of the site in 1993, which was cited in 
the Valles Caldera Preservation Act.
    If added to the National Park System, Valles Caldera would 
be managed in accordance with the 1916 Organic Act and other 
Acts that have guided the NPS for nearly one hundred years ``to 
provide for the enjoyment of the same in such manner and by 
such means as will leave them unimpaired for the enjoyment of 
future generations'', with recognition that the bill allows for 
continued, sustainable grazing, hunting, and fishing. The NPS 
has experience with these activities in our other nineteen 
preserves.
    Based on current expenses for Valles Caldera and the cost 
to operate park units comparable in size and assets, we 
anticipate the annual cost to operate and manage the park would 
be approximately $22 million for developmental costs and $4 
million for annual operational costs, although more complete 
cost estimates would be developed through the general 
management plan. In addition, our 2009 Update Report identifies 
5 parcels of private property, totaling 40 acres, that would 
need to be acquired. Although appraisals have not been 
completed, the expected costs to acquire this private property 
and any transfer costs are expected to be minimal. Funds would 
be subject to the availability of appropriations and NPS 
priorities.
    Furthermore, as noted above, this bill would repeal the 
Valles Caldera Preservation Act in which Congress authorized 
the acquisition of a fractional mineral interest under the 
Valles Caldera Preserve. We have been advised by the Department 
of Justice that although the condemnation action related to the 
mineral interest has concluded, the judgment and some fees have 
not yet been paid. Accordingly, we believe that the bill should 
state explicitly that it is not intended to affect the 
authority for the condemnation or the amount or source of any 
outstanding obligations of the United States related to the 
condemnation of the fractional mineral interest under the 
Preserve.
    Finally, should S. 3452 move forward in its current form, 
the Department would like the opportunity to work with the 
committee to discuss some of the time periods that are outlined 
in the bill. We are concerned that the 30 day time periods to 
develop the memorandum of agreement described in Section 3 and 
the interim budget in Section 4 may not be sufficient. We will 
be happy to work with committee staff to address our concerns.
    The Valles Caldera is a spectacular landscape containing 
nationally significant resources that are worthy of 
preservation and protection. We look forward to working with 
the committee, the U.S. Forest Service, and the Valles Caldera 
Trust to determine the best way to care for these resources and 
to allow for their enjoyment by all Americans.
    Mr. Chairman, that concludes my prepared remarks. I would 
be happy to answer any questions that you or any other members 
of the Committee may have.
                              ----------                              

  Statement of Harris Sherman, Under Secretary, Natural Resources and 
                 Environment, Department of Agriculture

    Mr. Chairman, Ranking Member Murkowski, and members of the 
Committee:
    Thank you for the opportunity to provide the 
Administration's view of S. 3452 the ``Valles Caldera Preserve 
Management Act''.
    I am pleased to testify today on S. 3452 regarding the 
long-term management of the Valles Caldera National Preserve, 
one of the Nation's preeminent scenic and natural areas. The 
Valles Caldera Preserve Management Act would repeal the Valles 
Caldera Preservation Act of 2000 (2000 Act) abolish the Valles 
Caldera Trust, terminate the Preserve's inclusion in the 
National Forest System and turn over administration of the land 
to the National Park Service (NPS). This legislation gives us 
the opportunity to assess the long term management of the 
Preserve. The Department supports the protection of the 
nationally significant natural and cultural resources found at 
the Valles Caldera National Preserve and have worked with the 
Trust to accomplish these goals over the past several years. We 
would like to work with the committee to determine the 
management structure that will provide the highest level of 
protection and care for the unique resources that are found 
within the Valles Caldera. However, given the historical and 
ecological importance of these lands and the work that is 
required to restore them, there are various jurisdictional 
options for the long-term management of the Valles Caldera 
National Preserve that could be considered.
    There is no debate about the outstanding natural resources 
of the 88,900-acre Preserve with its extraordinary flora, 
fauna, water, and geologic resources. Its spectacular scenic 
values are among the finest in the National Forest System. 
Geologically, the Valles Caldera is one of the Nation's best 
examples of a resurgent caldera. Its archaeological and 
cultural resources are of major significance to Native American 
Pueblo people. The challenge before the Congress and the 
Administration is how best to manage and restore the forested 
and rangeland watersheds, while sustaining the traditional uses 
of a working ranch and the majesty of a National Preserve for 
the Nation.

                       role of the forest service

    To assess appropriate future management, some history may 
be helpful. In 2000, at the hearings for the original Valles 
Caldera Preservation Act, the Forest Service was complimented 
as the ``unsung heroes'' in the great effort to preserve and 
protect what was then referred to as the Baca Ranch. That 
accolade is as valid today as it was ten years ago. Beginning 
in 1990, the Forest Service engaged the ranch owners, the 
Dunigan family, in what turned out to be a decade long effort 
to acquire the Baca Ranch. In 1993, the Forest Service 
cooperating with interested parties including the National Park 
Service, the U. S. Fish and Wildlife Service and affected 
Indian tribes completed a major study, the Report on the Study 
of the Baca Location No. 1 which provided the scientific and 
public policy underpinnings for Federal acquisition of the 
Ranch in 2000 (PL 106-248). From 1995 to 2000, the Secretary of 
Agriculture assigned resource managers and used Department of 
Agriculture legal expertise to negotiate the purchase of the 
Baca Ranch for $101 million. The acquisition of the Baca 
Location No. 1 by the Federal government also resulted in the 
expansion of the Bandelier National Monument in the upper 
watershed of Alamo Creek as authorized by Public Law 105-376. 
The acquisition of the Preserve also permitted the Secretary of 
Agriculture to assign to the Pueblo of Santa Clara rights to 
acquire at fair market value approximately 5,045 acres of the 
northeast corner of the Baca Location No. 1 in the Santa Clara 
Creek watershed to promote watershed management within the 
Santa Clara Indian Reservation. More recently, significant 
effort and expense has been invested in acquiring privately 
owned geothermal rights. With some exceptions, the 
Administration can report today that due to the efforts of the 
Forest Service and the Department of Justice, the Federal 
government is now in possession of title to the Preserve and 
the land is permanently protected from private development.

    addition to the national forest system--valles caldera national 
                                preserve

    Upon the enactment of the 2000 Act on July 25, 2000, the 
Valles Caldera National Preserve was added to the National 
Forest System and the boundary of the Santa Fe National Forest 
was adjusted to include the National Preserve. Hailed as a new 
experiment in public, multiple-use land management, the nearly 
89,000 acre National Preserve, formerly known as the Baca 
Location No. 1, was assigned to a nine-member Board of Trustees 
responsible for the protection and development of the Valles 
Caldera National Preserve. The President of the United States 
appoints seven members and two Federal employees, who are ex-
officio members who serve by virtue of their positions as 
Forest Supervisor of the Santa Fe National Forest and 
Superintendent of the Bandelier National Monument. The Trust is 
the managing board for the National Forest System lands that 
comprise the Valles Caldera National Preserve. The Preserve 
employees report to an Executive Director, who is overseen by 
the Trust Board members. Funding for the Preserve comes from 
the annual Forest Service appropriation, which is $3.5 million 
for FY 10 and from revenues generated by the Preserve for entry 
and use. In fiscal year 2009 the Trust generated approximately 
$650,000.
    Because the Valles Caldera National Preserve is part of the 
National Forest System, it has the ability to draw upon the 
considerable resources of the Forest Service. The Deputy Areas 
for National Forest Systems, Research and Development and State 
and Private Forestry, as well as Business Operations support 
and assist the Trust, and Preserve managers with services and 
expertise needed to manage the Preserve. The Southwest Region 
and the Rocky Mountain Research Station support the Preserve 
managers through special assignments; such as on-the-ground 
consultations and specific disciplinary investigations or 
services. Santa Fe National Forest and Cibola National Forest 
employees with a wide array of skills are within a short 
driving distance of the Preserve and are available for 
immediate consultation on management direction or service 
program delivery. Wildland fire suppression and management 
resources, including equipment and personnel, are directly 
provided to the Preserve as part of the Santa Fe National 
Forest mission. Over the last decade, the Forest Service has 
worked closely with the Trust to assist with National Preserve 
operations, including archaeology, forestry, law enforcement, 
infrastructure, technical assistance, resource management and 
wildfire suppression. The Forest Service also provides the 
Trust with administrative assistance in financial services and 
property management.

    maintaining a working ranch, while managing a national preserve

    The debate a decade ago was over how to best manage the 
newly acquired Baca Ranch. The consensus then was that the land 
should be preserved as a working ranch where fishing, hunting, 
grazing, and some limited timber management might be retained. 
Then Congressman Udall noted in the hearings in March, 2000, 
that a working ranch would permit both cattle and wildlife to 
thrive on the land and traditional New Mexican families should 
have the opportunity to join others who had previously been 
able to use the land. The concept of a working ranch was widely 
endorsed. Over the past decade the Trust, with the assistance 
of the Forest Service, has implemented the concept of the 
working ranch.
    The October 2009 report ``Valles Caldera'' by the 
Government Accountability Office found that the Trust had made 
progress in rehabilitating roads, buildings, fences, and other 
infrastructure, had created a science program, experimented 
with a variety of grazing options, taken steps to manage its 
forests, expanded recreational opportunities, and taken its 
first steps toward becoming financially self-sustaining. 
However the Trust is at least 5 years behind the schedule it 
set for itself. Through FY2009, the Trust lacked a strategic 
plan and annual performance plans and it had not systematically 
monitored or reported on its' progress. The Trust's financial 
management has also been weak and the Trust is challenged to 
become self sustaining by the end of FY2015. The GAO 
recommended that the Trust work with the relevant Committees to 
seek legislative remedies as appropriate for the legal 
challenges confronting the Trust.

                    forest and rangeland restoration

    It is important to note that restoration and resource 
management issues are already being managed by the Forest 
Service on approximately 895,000 acres of National Forest 
System lands in the Jemez Mountains surrounding the Preserve 
and on the Preserve's Southeast corner adjacent to Bandelier 
National Monument. The connectivity of the forests, rangelands 
and waters in the Jemez Mountains of central and northern New 
Mexico allows for the continuity of natural resource management 
and for efficient restoration practices to be implemented on a 
landscape scale. The Forest Service is well positioned to 
provide landscape and restoration management in the Jemez 
Mountains, as envisioned by the Administration's priorities for 
maintaining and enhancing the resiliency and productivity of 
America's forests.
    The paramount priority for the Preserve is to continue and 
increase watershed restoration work across the Preserve and the 
surrounding National Forest System lands. The land's long 
history as a ranch where timber and mining activities occurred 
degraded much of the landscape. In addition, drought and insect 
activity threatens the forest and makes catastrophic fire a 
major challenge. Restoration work in this regard has been 
initiated and environmental and watershed assessments for 
developing future restoration projects are in process.
    Some of this restoration work has and will continue to deal 
with roads. When the Baca Ranch was purchased there were 
approximately 1,400 miles of logging roads on the land. 
Initially, it was determined that the existing road system and 
surface design could not be used to support recreational 
opportunities, administration and management or uses such as 
grazing.
    To date, approximately 875 miles of the 1,400 have been 
inventoried and once the inventory is completed a determination 
would be made on the number of miles of road required for 
management of the Preserve. Through forest restoration efforts, 
the existing roads that are unneeded for future management 
would then be closed, decommissioned or obliterated. Presently, 
the Trust, with the assistance of the Forest Service, has 
upgraded over 18 miles of road to all-weather gravel standards 
so they are usable for passenger vehicles and are more 
environmentally stable. To enhance safety and public viewing of 
the preserve, the kiosks, scenic turnouts, and a new gate have 
been installed. In addition, the entry to and exit from New 
Mexico Highway 4, the main access road to the preserve, has 
been reconfigured to meet traffic and road safety requirements.
    Rehabilitating deteriorating infrastructure such as 
buildings, roads and water systems has proven to be an 
expensive and time-consuming endeavor. Many of these 
obligations will need to be addressed in any future management 
regime for the Preserve.

                    approaches to grazing management

    Given that the 2000 Act requires maintaining the Preserve 
as a working ranch, grazing has been a central activity. Over 
the years, the grazing program's objectives, scope, and size 
have changed repeatedly, in response to annual scientific 
assessments of forage availability, as well as shifting 
directives from the Board. The ultimate goal is to manage the 
Preserve's livestock operations for multiple aims, including, 
environmental benefits, local community benefit, research, and 
public education.

      the development and expansion of recreational opportunities

    For the public, especially New Mexicans, the Baca Location 
No.1 was an intriguing curiosity. Projected on maps as a 
prominent rectangle of white surrounded by National Forest 
System lands and on the Preserve's Southeast corner adjacent to 
Bandelier National Monument, there were great expectations by 
the Public for recreating and exploring the new National 
Preserve. At the outset of Forest Service and Trust management, 
the National Preserve was closed to public entry. Beginning in 
2002, the Preserve was opened to public recreation which was 
confined to guided hikes or van tours. Over the next several 
years, access to the Preserve for varied summer and winter 
activities was allowed, including but not limited to access for 
fishing, hunting, hiking and various other recreational 
activities provided by outfitters and guides such as horse 
drawn wagon and sleigh rides, stargazing and viewing, group 
tours and birding.
    Given the successful history of Forest Service efforts, its 
commitment to the Preserve and the National Forest System 
stewardship of the vast majority of lands surrounding the 
Preserve, management by the Forest Service is a viable option 
for the Preserve's future. There is ample national precedent 
for Forest Service administration of such lands. The agency 
currently manages 38 Congressionally designated areas, 
including 21 National Recreation Areas, 6 National Monuments (2 
of which are national volcanic monuments), and 11 National 
Scenic Areas. For example the Santa Fe National Forest is 
managing the 57,000 acre Jemez National Recreation Area 
established to conserve the recreational, ecological, cultural, 
religious and wildlife values of the Jemez Mountains.
    The Preserve presents many resource management challenges 
that must be addressed and accounted for if any change in 
management is considered. The largest elk herd in New Mexico 
has to be carefully managed in cooperation with the New Mexico 
Department of Game and Fish. The land needs to be restored 
after decades of grazing and logging use. Indeed, for the 
Secretary of Agriculture, restoration of forest and rangeland 
watersheds is one of the highest management priorities. Under 
the Forest Landscape Restoration Title of the Omnibus Public 
Land Management Act of 2009 (16 U.S.C. 7303), which established 
the Collaborative Forest Landscape Restoration Fund (CFLRF), 
the Valles Caldera National Preserve, Santa Fe National Forest, 
the Nature Conservancy and the New Mexico Forest and Watershed 
Restoration Institute have developed a proposal for a cross 
jurisdictional planning process to implement a landscape-scale 
forest restoration strategy in the Jemez River Watershed. A key 
collaborator for this proposal, among many, is Bandelier 
National Monument. To achieve the goals of restoration and 
resiliency under the CFLRF active management prescriptions 
utilizing timber and forest vegetation harvesting and removal, 
prescribed fire, road closures and obliteration, as well as 
controlled livestock herbivory, would be required to achieve 
restored and resilient forest and watershed ecological 
conditions. However, under the CFLRF, funding is limited to 
lands administered by the Forest Service.

  congressional request for reconnaissance study by the national park 
                                service

    At the request of New Mexico Senators Jeff Bingaman and Tom 
Udall (June 24, 2009), the National Park Service performed a 
reconnaissance study of the National Forest System lands 
comprising the Valles Caldera National Preserve for its 
inclusion in the National Park System. We recognize that the 
Secretary of the Interior could also be an appropriate steward 
of the National Preserve and the Forest Service will work 
cooperatively with all parties to achieve the best outcome for 
the National Preserve.
    If it is the decision of the Committee that permanent Trust 
management of the Preserve is not in the public interest and 
the land is ultimately managed by the Park Service, the Forest 
Service or some other arrangement, then we would request a 
thorough and orderly transfer of responsibilities from the 
Trust. In the interim, we should assure adequate funding for 
continued operations. In that respect, I note the 
Administration is recommending continued funding of the Trust 
at $3.5 million for FY 2011.
    This bill would repeal the Valles Caldera Preservation Act 
(VCPA), in which Congress authorized the acquisition of a 
fractional mineral interest under the Valles Caldera Preserve. 
Although the condemnation action related to the mineral 
interest has concluded, the judgment and some fees have not yet 
been paid. Accordingly, we believe that the bill should state 
explicitly that it is not intended to affect the authority for 
the condemnation or the amount or source of any outstanding 
obligations of the United States related to the condemnation of 
the fractional mineral interest under the Preserve.
    In closing, I would note that the spirit of cooperation 
would be paramount for all agencies to work together for the 
thoughtful stewardship of the Valles Caldera National Preserve, 
regardless of the Congresses' decisions regarding 
administrative jurisdiction.
    This concludes my testimony, and I would be happy to answer 
any questions.
                              ----------                              

Statement of Stephen E. Henry, Chairman, the Board of Trustees, Valles 
                             Caldera Trust

    Mr. Chairman and Members of the Committee:
    I am Stephen Henry, Chairman of the Board of Trustees for 
the Valles Caldera Trust, and I am here on behalf of the 
Presidentially appointed members of the Board of Trustees to 
express our views about S. 3452. The Trust supports the 
protection of the nationally significant natural and cultural 
resources found at the Valles Caldera National Preserve.
    I will not belabor the wonderful scenic and natural values 
of the Valles Caldera National Preserve. Everyone here knows it 
is a national treasure. We at the Trust value that treasure, 
and we have devoted our best efforts to its preservation and 
protection. But, unfortunately, we inherited an abused 
treasure. The former Baca Ranch had been over grazed and over 
logged for decades. Hundreds of miles of roads cover the area. 
Geothermal developers were threatening to develop private 
mineral rights. Major roads and improvements were in need of 
repair and rehabilitation. Infrastructure necessary to 
accommodate public access and use was almost nonexistent and 
prerequisite environmental compliances had never been 
addressed. At the same time, the public clamored to use and 
enjoy this land for which the Federal taxpayer paid $101 
million.
    Today, I am here to report that the Preserve is well on the 
way to a comeback. With the assistance of our partners in the 
Forest Service, the universities and the public, significant 
strides have been made at landscape restoration. The mandates 
of the Valles Caldera Preservation Act of 2000 are steadily and 
successfully being accomplished with regard to wildlife 
management, forest and range management, public recreation, 
Native American religious and cultural uses, research, science 
and many others. Despite these successes, S. 3452 would 
terminate the Valles Caldera Trust. We are disappointed and 
concerned, particularly about the future of our employees and 
the many successful ongoing programs.
    We note that the Valles Caldera Preservation Act provides 
for the assessment of the future viability of the Trust. In 
section 110, the Act calls for providing recommendations to 
Congress after 18 years as to whether the Trust should 
continue. In that context, we believe that S. 3452, which 
assumes Park Service management is best for the Preserve, could 
benefit from further analysis of the possible viable options 
for long term management of the Preserve. However, the relative 
merits of administration by the Forest Service, Park Service 
and the Trust have never been analyzed.
    When viewed objectively, we believe the Trust's 
accomplishments will be evident. The Trust started at ground 
zero when it was established in 2000. We had a brand new 
organization implementing an untested management regime on a 
huge property. The Preserve has not been financially self-
sustaining; however, the challenge of that goal was recognized 
by many at the time of the original enactment. The Preserve has 
limited revenue generating capacity. Further, back in 2000, 
neither the Congress nor the Executive Branch anticipated the 
costs and complications of setting up a government corporation 
or the costs of making necessary capital repairs and 
rehabilitation, and simply the costs of operations--all of 
which are debits in the accounting on self sustainability. 
Parts of the problem were inherent challenges in the enabling 
legislation. One simple example concerns tort liability. 
Instead of treating the Trust like any other self insured 
federal agency, we were compelled to spend considerable sums 
buying private liability insurance. The point is that the Trust 
is being held to a unique standard of financial self 
sustainability. The Board believes that terminating the Trust 
fails to recognize much of the progress and investments in time 
and money made by the Trust in the past eight years.
    Turning the discussion to the future, the issue is what 
management is needed and who can best provide it. It may be 
that management by the Forest Service or the Park Service will 
enable some administrative functions to be assumed within a 
larger organization, but many activities and operations will 
have to be done anyway and at probably much the same cost.
    Forest restoration is now the major management focus. It 
involves putting roads to bed, erosion control, reforestation, 
and dealing with the challenges posed by insects and climate 
change. Range management is another challenge and includes 
restoration of riparian areas. We are currently undertaking 
extensive research in grassland improvement in cooperation with 
New Mexico State University. Public recreation, including 
hunting and fishing, is always a major challenge, but we have 
been getting high marks on these issues from our visitors.
    In conclusion, we understand there will be a need to assess 
the long term management of the Preserve and want to play our 
part in that effort. We believe any changes should be 
considered with full public transparency and with input from 
resource management experts. This exquisite landscape and the 
American public deserve no less.
    Thank you and I would be happy to answer any questions the 
Committee would have.

                        Changes in Existing Law

    In compliance with paragraph 12 of rule XXVI of the 
Standing Rules of the Senate, changes in existing law made by 
the bill S. 3452, as ordered reported, are shown below 
(existing law proposed to be omitted is enclosed in black 
brackets, new matter is printed in italic, existing law in 
which no change is proposed is shown in roman). The Committee 
notes that section 5(b) of S. 3452, as ordered reported, 
provides that certain authorities and actions shall continue 
and certain provisions shall remain in effect notwithstanding 
the repeal of the Valles Caldera Preservation Act, as explained 
in detail in the section-by-section analysis above.

                    VALLES CALDERA PRESERVATION ACT

   (Title I of Public Law 106-248, as amended by Public Law 106-132)

                        (16 U.S.C. 698v-698v-10)

 AN ACT To authorize the acquisition of the Valles Caldera, to provide 
for an effective land and wildlife management program for this resource 
     within the Department of Agriculture, and for other purposes.

    Be it enacted by the Senate and House of Representatives of 
the United States of America in Congress assembled,

          [TITLE I--VALLES CALDERA NATIONAL PRESERVE AND TRUST

[SEC. 101. SHORT TITLE.

    [This title may be cited as the ``Valles Caldera 
Preservation Act''.

[SEC. 102. FINDINGS AND PURPOSES.

    [(a) Findings.--Congress finds that--
          [(1) the Baca ranch comprises most of the Valles 
        Caldera in central New Mexico, and constitutes a unique 
        land mass, with significant scientific, cultural, 
        historic, recreational, ecological, wildlife, 
        fisheries, and productive values;
          [(2) the Valles Caldera is a large resurgent lava 
        dome with potential geothermal activity;
          [(3) the land comprising the Baca ranch was 
        originally granted to the heirs of Don Luis Maria 
        Cabeza de Vaca in 1860;
          [(4) historical evidence, in the form of old logging 
        camps and other artifacts, and the history of 
        territorial New Mexico indicate the importance of this 
        land over many generations for domesticated livestock 
        production and timber supply;
          [(5) the careful husbandry of the Baca ranch by the 
        current owners, including selective timbering, limited 
        grazing and hunting, and the use of prescribed fire, 
        have preserved a mix of healthy range and timber land 
        with significant species diversity, thereby serving as 
        a model for sustainable land development and use;
          [(6) the Baca ranch's natural beauty and abundant 
        resources, and its proximity to large municipal 
        populations, could provide numerous recreational 
        opportunities for hiking, fishing, camping, cross-
        country skiing, and hunting;
          [(7) the Forest Service documented the scenic and 
        natural values of the Baca ranch in its 1993 study 
        entitled ``Report on the Study of the Baca Location No. 
        1, Santa Fe National Forest, New Mexico'', as directed 
        by Public Law 101-556;
          [(8) the Baca ranch can be protected for current and 
        future generations by continued operation as a working 
        ranch under a unique management regime which would 
        protect the land and resource values of the property 
        and surrounding ecosystem while allowing and providing 
        for the ranch to eventually become financially self-
        sustaining;
          [(9) the current owners have indicated that they wish 
        to sell the Baca ranch, creating an opportunity for 
        Federal acquisition and public access and enjoyment of 
        these lands;
          [(10) certain features on the Baca ranch have 
        historical and religious significance to Native 
        Americans which can be preserved and protected through 
        Federal acquisition of the property;
          [(11) the unique nature of the Valles Caldera and the 
        potential uses of its resources with different 
        resulting impacts warrants a management regime uniquely 
        capable of developing an operational program for 
        appropriate preservation and development of the land 
        and resources of the Baca ranch in the interest of the 
        public;
          [(12) an experimental management regime should be 
        provided by the establishment of a Trust capable of 
        using new methods of public land management that may 
        prove to be cost-effective and environmentally 
        sensitive; and
        [(13) the Secretary may promote more efficient 
        management of the Valles Caldera and the watershed of 
        the Santa Clara Creek through the assignment of 
        purchase rights of such watershed to the Pueblo of 
        Santa Clara.
    [(b) Purposes.--The purposes of this title are--
          [(1) to authorize Federal acquisition of the Baca 
        ranch;
          [(2) to protect and preserve for future generations 
        the scientific, scenic, historic, and natural values of 
        the Baca ranch, including rivers and ecosystems and 
        archaeological, geological, and cultural resources;
          [(3) to provide opportunities for public recreation;
          [(4) to establish a demonstration area for an 
        experimental management regime adapted to this unique 
        property which incorporates elements of public and 
        private administration in order to promote long term 
        financial sustainability consistent with the other 
        purposes enumerated in this subsection; and
          [(5) to provide for sustained yield management of 
        Baca ranch for timber production and domesticated 
        livestock grazing insofar as is consistent with the 
        other purposes stated herein.

[SEC. 103. DEFINITIONS.

    [In this title:
          [(1) Baca ranch.--The term ``Baca ranch'' means the 
        lands and facilities described in section 104(a).
          [(2) Board of trustees.--The terms ``Board of 
        Trustees'' and ``Board'' mean the Board of Trustees as 
        described in section 107.
          [(3) Committees of congress.--The term ``Committees 
        of Congress'' means the Committee on Energy and Natural 
        Resources of the Senate and the Committee on Resources 
        of the House of Representatives.
          [(4) Financially self-sustaining.--The term 
        ``financially self-sustaining'' means management and 
        operating expenditures equal to or less than proceeds 
        derived from fees and other receipts for resource use 
        and development and interest on invested funds. 
        Management and operating expenditures shall include 
        Trustee expenses, salaries and benefits of staff, 
        administrative and operating expenses, improvements to 
        and maintenance of lands and facilities of the 
        Preserve, and other similar expenses. Funds 
        appropriated to the Trust by Congress, either directly 
        or through the Secretary, for the purposes of this 
        title shall not be considered.
          [(5) Multiple use and sustained yield.--The term 
        ``multiple use and sustained yield'' has the combined 
        meaning of the terms ``multiple use'' and ``sustained 
        yield of the several products and services'', as 
        defined under the Multiple-Use Sustained-Yield Act of 
        1960 (16 U.S.C. 531).
          [(6) Preserve.--The term ``Preserve'' means the 
        Valles Caldera National Preserve established under 
        section 105.
          [(7) Secretary.--Except where otherwise provided, the 
        term ``Secretary'' means the Secretary of Agriculture.
          [(8) Trust.--The term ``Trust'' means the Valles 
        Caldera Trust established under section 106.

[SEC. 104. ACQUISITION OF LANDS.

    [(a) Acquisition of Baca Ranch.--
          [(1) In general.--In compliance with the Act of June 
        15, 1926 (16 U.S.C. 471a), the Secretary is authorized 
        to acquire all or part of the rights, title, and 
        interests in and to approximately 94,761 acres of the 
        Baca ranch, comprising the lands, facilities, and 
        structures referred to as the Baca Location No. 1, and 
        generally depicted on a plat entitled ``Independent 
        Resurvey of the Baca Location No. 1'', made by L.A. 
        Osterhoudt, W.V. Hall, and Charles W. Devendorf, U.S. 
        Cadastral Engineers, June 30, 1920-August 24, 1921, 
        under special instructions for Group No. 107 dated 
        February 12, 1920, in New Mexico.
          [(2) Source of funds.--The acquisition under 
        paragraph (1) may be made by purchase through 
        appropriated or donated funds, by exchange, by 
        contribution, or by donation of land. Funds 
        appropriated to the Secretary from the Land and Water 
        Conservation Fund shall be available for this purpose.
          [(3) Basis of sale.--The acquisition under paragraph 
        (1) shall be based on an appraisal done in conformity 
        with the Uniform Appraisal Standards for Federal Land 
        Acquisitions and--
                  [(A) in the case of purchase, such purchase 
                shall be on a willing seller basis for no more 
                than the fair market value of the land or 
                interests therein acquired; and
                  [(B) in the case of exchange, such exchange 
                shall be for lands, or interests therein, of 
                equal value, in conformity with the existing 
                exchange authorities of the Secretary.
          [(4) Deed.--The conveyance of the offered lands to 
        the United States under this subsection shall be by 
        general warranty or other deed acceptable to the 
        Secretary and in conformity with applicable title 
        standards of the Attorney General.
    [(b) Addition of Land to Bandelier National Monument.--Upon 
acquisition of the Baca ranch under subsection (a), the 
Secretary of the Interior shall assume administrative 
jurisdiction over those lands within the boundaries of the 
Bandelier National Monument as modified under section 3 of 
Public Law 105-376 (112 Stat. 3389).
    [(c) Plat and Maps.--
          [(1) Plat and maps prevail.--In case of any conflict 
        between a plat or a map and acreages, the plat or map 
        shall prevail.
          [(2) Minor corrections.--The Secretary and the 
        Secretary of the Interior may make minor corrections in 
        the boundaries of the Upper Alamo watershed as depicted 
        on the map referred to in section 3 of Public Law 105-
        376 (112 Stat. 3389).
          [(3) Boundary modification.--Upon the conveyance of 
        any lands to any entity other than the Secretary, the 
        boundary of the Preserve shall be modified to exclude 
        such lands.
          [(4) Final maps.--Within 180 days of the date of 
        acquisition of the Baca ranch under subsection (a), the 
        Secretary and the Secretary of the Interior shall 
        submit to the Committees of Congress a final map of the 
        Preserve and a final map of Bandelier National 
        Monument, respectively.
          [(5) Public availability.--The plat and maps referred 
        to in the subsection shall be kept and made available 
        for public inspection in the offices of the Chief, 
        Forest Service, and Director, National Park Service, in 
        Washington, D.C., and Supervisor, Santa Fe National 
        Forest, and Superintendent, Bandelier National 
        Monument, in the State of New Mexico.
    [(d) Watershed Management Report.--The Secretary, acting 
through the Forest Service, in cooperation with the Secretary 
of the Interior, acting through the National Park Service, 
shall--
          [(1) prepare a report of management alternatives 
        which may--
                  [(A) provide more coordinated land management 
                within the area known as the upper watersheds 
                of Alamo, Capulin, Medio, and Sanchez Canyons, 
                including the areas known as the Dome Diversity 
                Unit and the Dome Wilderness;
                  [(B) allow for improved management of elk and 
                other wildlife populations ranging between the 
                Santa Fe National Forest and the Bandelier 
                National Monument; and
                  [(C) include proposed boundary adjustments 
                between the Santa Fe National Forest and the 
                Bandelier National Monument to facilitate the 
                objectives under subparagraphs (A) and (B); and
          [(2) submit the report to the Committees of Congress 
        within 120 days of the date of enactment of this title.
    [(e) Outstanding Mineral Interests.--
          [(1) In general.--The acquisition of the Baca ranch 
        by the Secretary shall be subject to all outstanding 
        valid existing mineral interests.
          [(2) Acquisition.--The Secretary is authorized and 
        directed to negotiate with the owners of any fractional 
        interest in the subsurface estate for the acquisition 
        of such fractional interest for not to exceed its fair 
        market value, as determined by appraisal done in 
        conformity with the Uniform Appraisal Standards for 
        Federal Land Acquisitions.
          [(3) Administration.--Any such interests acquired 
        within the boundaries of the Upper Alamo watershed, as 
        referred to in subsection (b), shall be administered by 
        the Secretary of the Interior as part of Bandelier 
        National Monument.
          [(4) Available funds.--Any such interests shall be 
        acquired with available funds.
          [(5) Declaration of taking.--
                  [(A) In general.--If negotiations to acquire 
                the interests are unsuccessful by the date that 
                is 60 days after the date of enactment of this 
                paragraph, the Secretary shall acquire the 
                interests pursuant to section 3114 of title 40, 
                United States Code.
                  [(B) Source of funds.--Any difference between 
                the sum of money estimated to be just 
                compensation by the Secretary and the amount 
                awarded shall be paid from the permanent 
                judgment appropriation under section 1304 of 
                title 31, United States Code.
    [(f) Boundaries of the Baca Ranch.--For purposes of section 
7 of the Land and Water Conservation Fund Act of 1965 (16 
U.S.C. 4601-9), the boundaries of the Baca ranch shall be 
treated as if they were National Forest boundaries existing as 
of January 1, 1965.
    [(g) Pueblo of Santa Clara.--
          [(1) In general.--The Secretary may assign to the 
        Pueblo of Santa Clara rights to acquire for fair market 
        value portions of the Baca ranch. The portion that may 
        be assigned shall be determined by mutual agreement 
        between the Pueblo and the Secretary based on optimal 
        management considerations for the Preserve including 
        manageable land line locations, public access, and 
        retention of scenic and natural values. All appraisals 
        shall be done in conformity with the Uniform Appraisal 
        Standards for Federal Land Acquisition.
          [(2) Status of land acquired.--As of the date of 
        acquisition, the fee title lands, and any mineral 
        estate underlying such lands, acquired under this 
        subsection by the Pueblo of Santa Clara are deemed 
        transferred into trust in the name of the United States 
        for the benefit of the Pueblo of Santa Clara and such 
        lands and mineral estate are declared to be part of the 
        existing Santa Clara Indian Reservation.
          [(3) Mineral estate.--Any mineral estate acquired by 
        the United States pursuant to section 104(e) underlying 
        fee title lands acquired by the Pueblo of Santa Clara 
        shall not be developed without the consent of the 
        Secretary of the Interior and the Pueblo of Santa 
        Clara.
          [(4) Savings.--Any reservations, easements, and 
        covenants contained in an assignment agreement entered 
        into under paragraph (1) shall not be affected by the 
        acquisition of the Baca ranch by the United States, the 
        assumption of management by the Valles Caldera Trust, 
        or the lands acquired by the Pueblo being taken into 
        trust.

[SEC. 105. THE VALLES CALDERA NATIONAL PRESERVE.

    [(a) Establishment.--Upon the date of acquisition of the 
Baca ranch under section 104(a), there is hereby established 
the Valles Caldera National Preserve as a unit of the National 
Forest System which shall include all Federal lands and 
interests in land acquired under sections 104(a) and 104(e), 
except those lands and interests in land administered or held 
in trust by the Secretary of the Interior under sections 104(b) 
and 104(g), and shall be managed in accordance with the 
purposes and requirements of this title.
    [(b) Purposes.--The purposes for which the Preserve is 
established are to protect and preserve the scientific, scenic, 
geologic, watershed, fish, wildlife, historic, cultural, and 
recreational values of the Preserve, and to provide for 
multiple use and sustained yield of renewable resources within 
the Preserve, consistent with this title.
    [(c) Management Authority.--Except for the powers of the 
Secretary enumerated in this title, the Preserve shall be 
managed by the Valles Caldera Trust established by section 106.
    [(d) Eligibility for Payment in Lieu of Taxes.--Lands 
acquired by the United States under section 104(a) shall 
constitute entitlement lands for purposes of the Payment in 
Lieu of Taxes Act (31 U.S.C. 6901-6904).
    [(e) Withdrawals.--
          [(1) In general.--Upon acquisition of all interests 
        in minerals within the boundaries of the Baca ranch 
        under section 104(e), subject to valid existing rights, 
        the lands comprising the Preserve are thereby withdrawn 
        from disposition under all laws pertaining to mineral 
        leasing, including geothermal leasing.
          [(2) Materials for roads and facilities.--Nothing in 
        this title shall preclude the Secretary, prior to 
        assumption of management of the Preserve by the Trust, 
        and the Trust thereafter, from allowing the utilization 
        of common varieties of mineral materials such as sand, 
        stone, and gravel as necessary for construction and 
        maintenance of roads and facilities within the 
        Preserve.
    [(f) Fish and Game.--Nothing in this title shall be 
construed as affecting the responsibilities of the State of New 
Mexico with respect to fish and wildlife, including the 
regulation of hunting, fishing, and trapping within the 
Preserve, except that the Trust may, in consultation with the 
Secretary and the State of New Mexico, designate zones where 
and establish periods when no hunting, fishing, or trapping 
shall be permitted for reasons of public safety, 
administration, the protection of nongame species and their 
habitats, or public use and enjoyment.
    [(g) Redondo Peak.--
          [(1) In general.--For the purposes of preserving the 
        natural, cultural, religious, and historic resources on 
        Redondo Peak upon acquisition of the Baca ranch under 
        section 104(a), except as provided in paragraph (2), 
        within the area of Redondo Peak above 10,000 feet in 
        elevation--
                  [(A) no roads, structures, or facilities 
                shall be constructed; and
                  [(B) no motorized access shall be allowed.
          [(2) Exceptions.--Nothing in this subsection shall 
        preclude--
                  [(A) the use and maintenance of roads and 
                trails existing as of the date of enactment of 
                this Act;
                  [(B) the construction, use and maintenance of 
                new trails, and the relocation of existing 
                roads, if located to avoid Native American 
                religious and cultural sites; and
                  [(C) motorized access necessary to administer 
                the area by the Trust (including measures 
                required in emergencies involving the health or 
                safety of persons within the area).

[SEC. 106. THE VALLES CALDERA TRUST.

    [(a) Establishment.--There is hereby established a wholly 
owned government corporation known as the Valles Caldera Trust 
which is empowered to conduct business in the State of New 
Mexico and elsewhere in the United States in furtherance of its 
corporate purposes.
    [(b) Corporate Purposes.--The purposes of the Trust are--
          [(1) to provide management and administrative 
        services for the Preserve;
          [(2) to establish and implement management policies 
        which will best achieve the purposes and requirements 
        of this title;
          [(3) to receive and collect funds from private and 
        public sources and to make dispositions in support of 
        the management and administration of the Preserve; and
          [(4) to cooperate with Federal, State, and local 
        governmental units, and with Indian tribes and Pueblos, 
        to further the purposes for which the Preserve was 
        established.
    [(c) Necessary Powers.--The Trust shall have all necessary 
and proper powers for the exercise of the authorities vested in 
it.
    [(d) Staff.--
          [(1) In general.--The Trust is authorized to appoint 
        and fix the compensation and duties of an executive 
        director and such other officers and employees as it 
        deems necessary without regard to the provisions of 
        title 5, United States Code, governing appointments in 
        the competitive service, and may pay them without 
        regard to the provisions of chapter 51, and subchapter 
        III of chapter 53, title 5, United States Code, 
        relating to classification and General Schedule pay 
        rates. No employee of the Trust shall be paid at a rate 
        in excess of that payable to the Supervisor of the 
        Santa Fe National Forest or the Superintendent of the 
        Bandelier National Monument, whichever is greater.
          [(2) Federal employees.--
                  [(A) In general.--Except as provided in this 
                title, employees of the Trust shall be Federal 
                employees as defined by title 5, United States 
                Code, and shall be subject to all rights and 
                obligations applicable thereto.
                  [(B) Use of federal employees.--At the 
                request of the Trust, the employees of any 
                Federal agency may be provided for 
                implementation of this title. Such employees 
                detailed to the Trust for more than 30 days 
                shall be provided on a reimbursable basis.
    [(e) Government Corporation.--
          [(1) In general.--The Trust shall be a Government 
        Corporation subject to chapter 91 of title 31, United 
        States Code (commonly referred to as the Government 
        Corporation Control Act). Financial statements of the 
        Trust shall be audited annually in accordance with 
        section 9105 of title 31 of the United States Code.
          [(2) Reports.--Not later than January 15 of each 
        year, the Trust shall submit to the Secretary and the 
        Committees of Congress a comprehensive and detailed 
        report of its operations, activities, and 
        accomplishments for the prior year including 
        information on the status of ecological, cultural, and 
        financial resources being managed by the Trust, and 
        benefits provided by the Preserve to local communities. 
        The report shall also include a section that describes 
        the Trust's goals for the current year.
          [(3) Annual budget.--
                  [(A) In general.--The Trust shall prepare an 
                annual budget with the goal of achieving a 
                financially self-sustaining operation within 15 
                full fiscal years after the date of acquisition 
                of the Baca ranch under section 104(a).
                  [(B) Budget request.--The Secretary shall 
                provide necessary assistance (including 
                detailees as necessary) to the Trust for the 
                timely formulation and submission of the annual 
                budget request for appropriations, as 
                authorized under section 111(a), to support the 
                administration, operation, and maintenance of 
                the Preserve.
    [(f) Taxes.--The Trust and all properties administered by 
the Trust shall be exempt from all taxes and special 
assessments of every kind by the State of New Mexico, and its 
political subdivisions including the counties of Sandoval and 
Rio Arriba.
    [(g) Donations.--The members of the Board of Trustees, the 
executive director, and one additional employee of the Trust in 
an executive position designated by the Board of Trustees or 
the executive director may solicit and accept donations of 
funds, property, supplies, or services from individuals, 
foundations, corporations, and other private or public entities 
for the purposes of carrying out its duties. The Secretary, 
prior to assumption of management of the Preserve by the Trust, 
and the Trust thereafter, may accept donations from such 
entities notwithstanding that such donors may conduct business 
with the Department of Agriculture or any other department or 
agency of the United States.
    [(h) Proceeds.--
          [(1) In general.--Notwithstanding sections 1341 and 
        3302 of title 31 of the United States Code, all monies 
        received from donations under subsection (g), from 
        claims, judgments, or settlements arising from 
        activities occurring on the Baca Ranch or the Preserve 
        after October 27, 1999, or from the management of the 
        Preserve shall be retained and shall be available, 
        without further appropriation, for the administration, 
        preservation, restoration, operation and maintenance, 
        improvement, repair, and related expenses incurred with 
        respect to properties under its management 
        jurisdiction.
          [(2) Fund.--There is hereby established in the 
        Treasury of the United States a special interest 
        bearing fund entitled ``Valles Caldera Fund'' which 
        shall be available, without further appropriation for 
        any purpose consistent with the purposes of this title. 
        At the option of the Trust, or the Secretary in 
        accordance with section 110, the Secretary of the 
        Treasury shall invest excess monies of the Trust in 
        such account, which shall bear interest at rates 
        determined by the Secretary of the Treasury taking into 
        consideration the current average market yield on 
        outstanding marketable obligations of the United States 
        of comparable maturity.
    [(i) Restrictions on Disposition of Receipts.--Any funds 
received by the Trust, or the Secretary in accordance with 
section 109(b), from the management of the Preserve shall not 
be subject to partial distribution to the State under--
          [(1) the Act of May 23, 1908, entitled ``an Act 
        making appropriations for the Department of Agriculture 
        for the fiscal year ending June thirtieth, nineteen 
        hundred and nine'' (35 Stat. 260, chapter 192; 16 
        U.S.C. 500);
          [(2) section 13 of the Act of March 1, 1911 (36 Stat. 
        963, chapter 186; 16 U.S.C. 500); or
          [(3) any other law.
    [(j) Suits.--The Trust may sue and be sued in its own name 
to the same extent as the Federal Government. For purposes of 
such suits, the residence of the Trust shall be the State of 
New Mexico. The Trust shall be represented by the Attorney 
General in any litigation arising out of the activities of the 
Trust, except that the Trust may retain private attorneys to 
provide advice and counsel.
    [(k) Bylaws.--The Trust shall adopt necessary bylaws to 
govern its activities.
    [(l) Insurance and Bond.--The Trust shall require that all 
holders of leases from, or parties in contract with, the Trust 
that are authorized to occupy, use, or develop properties under 
the management jurisdiction of the Trust, procure proper 
insurance against any loss in connection with such properties, 
or activities authorized in such lease or contract, as is 
reasonable and customary.
    [(m) Name and Insignia.--The Trust shall have the sole and 
exclusive right to use the words ``Valles Caldera Trust'', and 
any seal, emblem, or other insignia adopted by the Board of 
Trustees. Without express written authority of the Trust, no 
person may use the words ``Valles Caldera Trust'' as the name 
under which that person shall do or purport to do business, for 
the purpose of trade, or by way of advertisement, or in any 
manner that may falsely suggest any connection with the Trust.

[SEC. 107. BOARD OF TRUSTEES.

    [(a) In General.--The Trust shall be governed by a 9-member 
Board of Trustees consisting of the following:
          [(1) Voting trustees.--The voting Trustees shall be--
                  [(A) the Supervisor of the Santa Fe National 
                Forest, United States Forest Service;
                  [(B) the Superintendent of the Bandelier 
                National Monument, National Park Service; and
                  [(C) seven individuals, appointed by the 
                President, in consultation with the 
                congressional delegation from the State of New 
                Mexico. The seven individuals shall have 
                specific expertise or represent an organization 
                or government entity as follows--
                          [(i) one trustee shall have expertise 
                        in aspects of domesticated livestock 
                        management, production, and marketing, 
                        including range management and 
                        livestock business management;
                          [(ii) one trustee shall have 
                        expertise in the management of game and 
                        nongame wildlife and fish populations, 
                        including hunting, fishing, and other 
                        recreational activities;
                          [(iii) one trustee shall have 
                        expertise in the sustainable management 
                        of forest lands for commodity and 
                        noncommodity purposes;
                          [(iv) one trustee shall be active in 
                        a nonprofit conservation organization 
                        concerned with the activities of the 
                        Forest Service;
                          [(v) one trustee shall have expertise 
                        in financial management, budget and 
                        program analysis, and small business 
                        operations;
                          [(vi) one trustee shall have 
                        expertise in the cultural and natural 
                        history of the region; and
                          [(vii) one trustee shall be active in 
                        State or local government in New 
                        Mexico, with expertise in the customs 
                        of the local area.
          [(2) Qualifications.--Of the trustees appointed by 
        the President--
                  [(A) none shall be employees of the Federal 
                Government; and
                  [(B) at least five shall be residents of the 
                State of New Mexico.
    [(b) Initial Appointments.--The President shall make the 
initial appointments to the Board of Trustees within 90 days 
after acquisition of the Baca ranch under section 104(a).
    [(c) Terms.--
          [(1) In general.--Appointed trustees shall each serve 
        a term of 4 years, except that of the trustees first 
        appointed, four shall serve for a term of 4 years, and 
        three shall serve for a term of 2 years.
          [(2) Vacancies.--Any vacancy among the appointed 
        trustees shall be filled in the same manner in which 
        the original appointment was made, and any trustee 
        appointed to fill a vacancy shall serve for the 
        remainder of that term for which his or her predecessor 
        was appointed.
          [(3) Limitations.--No appointed trustee may serve 
        more than 8 years in consecutive terms.
    [(d) Quorum.--A majority of trustees shall constitute a 
quorum of the Board for the conduct of business.
    [(e) Organization and Compensation.--
          [(1) In general.--The Board shall organize itself in 
        such a manner as it deems most appropriate to 
        effectively carry out the activities of the Trust.
          [(2) Compensation of trustees.--Except as provided in 
        paragraph (3), trustees shall serve without pay, but 
        may be reimbursed from the funds of the Trust for the 
        actual and necessary travel and subsistence expenses 
        incurred by them in the performance of their duties.
          [(3) Chair.--
                  [(A) Selection.--Trustees shall select a 
                chair from the membership of the Board.
                  [(B) Compensation.--On request of the chair, 
                the chair may be compensated at a rate 
                determined by the Board of Trustees, but not to 
                exceed the daily equivalent of the annual rate 
                of pay for level IV of the Executive Schedule 
                under section 5315 of title 5, United States 
                Code, for each day (including travel time) in 
                which the chair is engaged in the performance 
                of duties of the Board of Trustees.
                  [(C) Maximum rate of pay.--The total amount 
                of compensation paid to the chair for a fiscal 
                year under subparagraph (B) shall not exceed 25 
                percent of the annual rate of pay for level IV 
                of the Executive Schedule under section 5315 of 
                title 5, United States Code.
    [(f) Liability of Trustees.--Appointed trustees shall not 
be considered Federal employees by virtue of their membership 
on the Board, except for purposes of the Federal Tort Claims 
Act, the Ethics in Government Act, and the provisions of 
chapter 11 of title 18, United States Code.
    [(g) Meetings.--
          [(1) Location and timing of meetings.--The Board 
        shall meet in sessions open to the public at least 
        three times per year in New Mexico. Upon a majority 
        vote made in open session, and a public statement of 
        the reasons therefore, the Board may close any other 
        meetings to the public: Provided, That any final 
        decision of the Board to adopt or amend the 
        comprehensive management program under section 108(d) 
        or to approve any activity related to the management of 
        the land or resources of the Preserve shall be made in 
        open public session.
          [(2) Public information.--In addition to other 
        requirements of applicable law, the Board shall 
        establish procedures for providing appropriate public 
        information and periodic opportunities for public 
        comment regarding the management of the Preserve.

[SEC. 108. RESOURCE MANAGEMENT.

    [(a) Assumption of Management.--The Trust shall assume all 
authority provided by this title to manage the Preserve upon a 
determination by the Secretary, which to the maximum extent 
practicable shall be made within 60 days after the appointment 
of the Board, that--
          [(1) the Board is duly appointed, and able to conduct 
        business; and
          [(2) provision has been made for essential management 
        services.
    [(b) Management Responsibilities.--Upon assumption of 
management of the Preserve under subsection (a), the Trust 
shall manage the land and resources of the Preserve and the use 
thereof including, but not limited to such activities as--
          [(1) administration of the operations of the 
        Preserve;
          [(2) preservation and development of the land and 
        resources of the Preserve;
          [(3) interpretation of the Preserve and its history 
        for the public;
          [(4) management of public use and occupancy of the 
        Preserve; and
          [(5) maintenance, rehabilitation, repair, and 
        improvement of property within the Preserve.
    [(c) Authorities.--
          [(1) In general.--The Trust shall develop programs 
        and activities at the Preserve, and shall have the 
        authority to negotiate directly and enter into such 
        agreements, leases, contracts and other arrangements 
        with any person, firm, association, organization, 
        corporation or governmental entity, including without 
        limitation, entities of Federal, State, and local 
        governments, and consultation with Indian tribes and 
        Pueblos, as are necessary and appropriate to carry out 
        its authorized activities or fulfill the purposes of 
        this title. Any such agreements may be entered into 
        without regard to section 321 of the Act of June 30, 
        1932 (40 U.S.C. 303b).
          [(2) Procedures.--The Trust shall establish 
        procedures for entering into lease agreements and other 
        agreements for the use and occupancy of facilities of 
        the Preserve. The procedures shall ensure reasonable 
        competition, and set guidelines for determining 
        reasonable fees, terms, and conditions for such 
        agreements.
          [(3) Limitations.--
                  [(A) In general.--The Trust may not dispose 
                of any real property in, or convey any water 
                rights appurtenant to the Preserve.
                  [(B) Maximum duration.--The Trust may not 
                convey any easement, or enter into any 
                contract, lease, or other agreement related to 
                use and occupancy of property within the 
                Preserve for a period greater than 10 years.
                  [(C) Termination.--The easement, contract, 
                lease, or other agreement shall provide that, 
                upon termination of the Trust, such easement, 
                contract, lease or agreement is terminated.
                  [(D) Exclusions.--For the purposes of this 
                paragraph, the disposal of real property does 
                not include the sale or other disposal of 
                forage, forest products, or marketable 
                renewable resources.
          [(4) Application of procurement laws.--
                  [(A) In general.--Notwithstanding any other 
                provision of law, Federal laws and regulations 
                governing procurement by Federal agencies shall 
                not apply to the Trust, with the exception of 
                laws and regulations related to Federal 
                Government contracts governing health and 
                safety requirements, wage rates, and civil 
                rights.
                  [(B) Procedures.--The Trust, in consultation 
                with the Administrator of Federal Procurement 
                Policy, Office of Management and Budget, shall 
                establish and adopt procedures applicable to 
                the Trust's procurement of goods and services, 
                including the award of contracts on the basis 
                of contractor qualifications, price, 
                commercially reasonable buying practices, and 
                reasonable competition.
    [(d) Management Program.--Within two years after assumption 
of management responsibilities for the Preserve, the Trust 
shall, in accordance with subsection (f), develop a 
comprehensive program for the management of lands, resources, 
and facilities within the Preserve to carry out the purposes 
under section 105(b). To the extent consistent with such 
purposes, such program shall provide for--
          [(1) operation of the Preserve as a working ranch, 
        consistent with paragraphs (2) through (4);
          [(2) the protection and preservation of the 
        scientific, scenic, geologic, watershed, fish, 
        wildlife, historic, cultural and recreational values of 
        the Preserve;
          [(3) multiple use and sustained yield of renewable 
        resources within the Preserve;
          [(4) public use of and access to the Preserve for 
        recreation;
          [(5) renewable resource utilization and management 
        alternatives that, to the extent practicable--
                  [(A) benefit local communities and small 
                businesses;
                  [(B) enhance coordination of management 
                objectives with those on surrounding National 
                Forest System land; and
                  [(C) provide cost savings to the Trust 
                through the exchange of services, including but 
                not limited to labor and maintenance of 
                facilities, for resources or services provided 
                by the Trust; and
          [(6) optimizing the generation of income based on 
        existing market conditions, to the extent that it does 
        not unreasonably diminish the long-term scenic and 
        natural values of the area, or the multiple use and 
        sustained yield capability of the land.
    [(e) Public Use and Recreation.--
          [(1) In general.--The Trust shall give thorough 
        consideration to the provision of appropriate 
        opportunities for public use and recreation that are 
        consistent with the other purposes under section 
        105(b). The Trust is expressly authorized to construct 
        and upgrade roads and bridges, and provide other 
        facilities for activities including, but not limited to 
        camping and picnicking, hiking, and cross country 
        skiing. Roads, trails, bridges, and recreational 
        facilities constructed within the Preserve shall meet 
        public safety standards applicable to units of the 
        National Forest System and the State of New Mexico.
          [(2) Fees.--Notwithstanding any other provision of 
        law, the Trust is authorized to assess reasonable fees 
        for admission to, and the use and occupancy of, the 
        Preserve: Provided, That admission fees and any fees 
        assessed for recreational activities shall be 
        implemented only after public notice and a period of 
        not less than 60 days for public comment.
          [(3) Public access.--Upon the acquisition of the Baca 
        ranch under section 104(a), and after an interim 
        planning period of no more than two years, the public 
        shall have reasonable access to the Preserve for 
        recreation purposes. The Secretary, prior to assumption 
        of management of the Preserve by the Trust, and the 
        Trust thereafter, may reasonably limit the number and 
        types of recreational admissions to the Preserve, or 
        any part thereof, based on the capability of the land, 
        resources, and facilities. The use of reservation or 
        lottery systems is expressly authorized to implement 
        this paragraph.
    [(f) Applicable Laws.
          [(1) In general.--The Trust, and the Secretary in 
        accordance with section 109(b), shall administer the 
        Preserve in conformity with this title and all laws 
        pertaining to the National Forest System, except the 
        Forest and Rangeland Renewable Resources Planning Act 
        of 1974, as amended (16 U.S.C. 1600 et seq.).
          [(2) Environmental laws.--The Trust shall be deemed a 
        Federal agency for the purposes of compliance with 
        Federal environmental laws.
          [(3) Criminal laws.--All criminal laws relating to 
        Federal property shall apply to the same extent as on 
        adjacent units of the National Forest System.
          [(4) Reports on applicable rules and regulations.--
        The Trust may submit to the Secretary and the 
        Committees of Congress a compilation of applicable 
        rules and regulations which in the view of the Trust 
        are inappropriate, incompatible with this title, or 
        unduly burdensome.
          [(5) Consultation with tribes and pueblos.--The Trust 
        is authorized and directed to cooperate and consult 
        with Indian tribes and Pueblos on management policies 
        and practices for the Preserve which may affect them. 
        The Trust is authorized to allow the use of lands 
        within the Preserve for religious and cultural uses by 
        Native Americans and, in so doing, may set aside places 
        and times of exclusive use consistent with the American 
        Indian Religious Freedom Act (42 U.S.C. 1996 (note)) 
        and other applicable statutes.
          [(6) No administrative appeal.--The administrative 
        appeals regulations of the Secretary shall not apply to 
        activities of the Trust and decisions of the Board.
    [(g) Law Enforcement and Fire Management.--
          [(1) Law enforcement.--
                  [(A) In general.--The Secretary shall provide 
                law enforcement services under a cooperative 
                agreement with the Trust to the extent 
                generally authorized in other units of the 
                National Forest System.
                  [(B) Federal agency.--The Trust shall be 
                deemed a Federal agency for purposes of the law 
                enforcement authorities of the Secretary 
                (within the meaning of section 15008 of the 
                National Forest System Drug Control Act of 1986 
                (16 U.S.C. 559g)).
          [(2) Fire management.--
                  [(A) Non-reimbursable services.--
                          [(i) Development of plan.--Subject to 
                        the availability of appropriations 
                        under section 111(a), the Secretary 
                        shall, in consultation with the Trust, 
                        develop a plan to carry out fire 
                        preparedness, suppression, and 
                        emergency rehabilitation services on 
                        the Preserve.
                          [(ii) Consistency with management 
                        program.--The plan shall be consistent 
                        with the management program developed 
                        pursuant to subsection (d).
                          [(iii) Cooperative agreement.--To the 
                        extent generally authorized at other 
                        united of the National Forest System, 
                        the Secretary shall provide the 
                        services to be carried out pursuant to 
                        the plan under a cooperative agreement 
                        entered into between the Secretary and 
                        the Trust.
                  [(B) Reimbursable services.--To the extent 
                generally authorized at other units of the 
                National Forest System and subject to the 
                availability of appropriations under section 
                111(a), the Secretary may provide 
                presuppression and nonemergency rehabilitation 
                and restoration services for the Trust at any 
                time on a reimbursable basis.

[SEC. 109. AUTHORITIES OF THE SECRETARY.

    [(a) In General.--Notwithstanding the assumption of 
management of the Preserve by the Trust, the Secretary is 
authorized to--
          [(1) issue any rights-of-way, as defined in the 
        Federal Land Policy and Management Act of 1976, of over 
        10 years duration, in cooperation with the Trust, 
        including, but not limited to, road and utility rights-
        of-way, and communication sites;
          [(2) issue orders under and enforce prohibitions 
        generally applicable on other units of the National 
        Forest System, in cooperation with the Trust;
          [(3) exercise the authorities of the Secretary under 
        the Wild and Scenic Rivers Act (16 U.S.C. 1278, et 
        seq.) and the Federal Power Act (16 U.S.C. 797, et 
        seq.), in cooperation with the Trust;
          [(4) acquire the mineral rights referred to in 
        section 104(e);
          [(5) provide law enforcement and fire management 
        services under section 108(g);
          [(6) at the request of the Trust, exchange land or 
        interests in land within the Preserve under laws 
        generally applicable to other units of the National 
        Forest System, or otherwise dispose of land or 
        interests in land within the Preserve under Public Law 
        97-465 (16 U.S.C. 521c through 521i);
          [(7) in consultation with the Trust, refer civil and 
        criminal cases pertaining to the Preserve to the 
        Department of Justice for prosecution;
          [(8) retain title to and control over fossils and 
        archaeological artifacts found within the Preserve;
          [(9) at the request of the Trust, construct and 
        operate a visitors' center in or near the Preserve, 
        subject to the availability of appropriated funds;
          [(10) conduct the assessment of the Trust's 
        performance, and, if the Secretary determines it 
        necessary, recommend to Congress the termination of the 
        Trust, under section 110(b)(2); and
          [(11) conduct such other activities for which express 
        authorization is provided to the Secretary by this 
        title.
    [(b) Interim Management.--
          [(1) In general.--The Secretary shall manage the 
        Preserve in accordance with this title during the 
        interim period from the date of acquisition of the Baca 
        ranch under section 104(a) to the date of assumption of 
        management of the Preserve by the Trust under section 
        108. The Secretary may enter into any agreement, lease, 
        contract, or other arrangement on the same basis as the 
        Trust under section 108(c)(1): Provided, That any 
        agreement, lease, contract, or other arrangement 
        entered into by the Secretary shall not exceed two 
        years in duration unless expressly extended by the 
        Trust upon its assumption of management of the 
        Preserve.
          [(2) Use of the fund.--All monies received by the 
        Secretary from the management of the Preserve during 
        the interim period under paragraph (1) shall be 
        deposited into the ``Valles Caldera Fund'' established 
        under section 106(h)(2), and such monies in the fund 
        shall be available to the Secretary, without further 
        appropriation, for the purpose of managing the Preserve 
        in accordance with the responsibilities and authorities 
        provided to the Trust under section 108.
    [(c) Secretarial Authority.--The Secretary retains the 
authority to suspend any decision of the Board with respect to 
the management of the Preserve if he finds that the decision is 
clearly inconsistent with this title. Such authority shall only 
be exercised personally by the Secretary, and may not be 
delegated. Any exercise of this authority shall be in writing 
to the Board, and notification of the decision shall be given 
to the Committees of Congress. Any suspended decision shall be 
referred back to the Board for reconsideration.
    [(d) Access.--The Secretary shall at all times have access 
to the Preserve for administrative purposes.

[SEC. 110. TERMINATION OF THE TRUST.

    [(a) In General.--The Valles Caldera Trust shall terminate 
at the end of the twentieth full fiscal year following 
acquisition of the Baca ranch under section 104(a).
    [(b) Recommendations.--
          [(1) Board.--
                  [(A) If after the fourteenth full fiscal year 
                from the date of acquisition of the Baca ranch 
                under section 104(a), the Board believes the 
                Trust has met the goals and objectives of the 
                comprehensive management program under section 
                108(d), but has not become financially self-
                sustaining, the Board may submit to the 
                Committees of Congress, a recommendation for 
                authorization of appropriations beyond that 
                provided under this title.
                  [(B) During the eighteenth full fiscal year 
                from the date of acquisition of the Baca ranch 
                under section 104(a), the Board shall submit to 
                the Secretary its recommendation that the Trust 
                be either extended or terminated including the 
                reasons for such recommendation.
          [(2) Secretary.--Within 120 days after receipt of the 
        recommendation of the Board under paragraph (1)(B), the 
        Secretary shall submit to the Committees of Congress 
        the Board's recommendation on extension or termination 
        along with the recommendation of the Secretary with 
        respect to the same and stating the reasons for such 
        recommendation.
    [(c) Effect of Termination.--In the event of termination of 
the Trust, the Secretary shall assume all management and 
administrative functions over the Preserve, and it shall 
thereafter be managed as a part of the Santa Fe National 
Forest, subject to all laws applicable to the National Forest 
System.
    [(d) Assets.--In the event of termination of the Trust, all 
assets of the Trust shall be used to satisfy any outstanding 
liabilities, and any funds remaining shall be transferred to 
the Secretary for use, without further appropriation, for the 
management of the Preserve.
    [(e) Valles Caldera Fund.--In the event of termination, the 
Secretary shall assume the powers of the Trust over funds under 
section 106(h), and the Valles Caldera Fund shall not 
terminate. Any balances remaining in the fund shall be 
available to the Secretary, without further appropriation, for 
any purpose consistent with the purposes of this title.

[SEC. 111. LIMITATIONS ON FUNDING.

    [(a) Authorization of Appropriations.--There is hereby 
authorized to be appropriated to the Secretary and the Trust 
such funds as are necessary for them to carry out the purposes 
of this title for each of the 15 full fiscal years after the 
date of acquisition of the Baca ranch under section 104(a).
    [(b) Schedule of Appropriations.--Within two years after 
the first meeting of the Board, the Trust shall submit to 
Congress a plan which includes a schedule of annual decreasing 
appropriated funds that will achieve, at a minimum, the 
financially self-sustained operation of the Trust within 15 
full fiscal years after the date of acquisition of the Baca 
ranch under section 104(a).

[SEC. 112. GOVERNMENT ACCOUNTABILITY OFFICE STUDY.

    [(a) Initial Study.--Three years after the assumption of 
management by the Trust, the Government Accountability Office 
shall conduct an interim study of the activities of the Trust 
and shall report the results of the study to the Committees of 
Congress. The study shall include, but shall not be limited to, 
details of programs and activities operated by the Trust and 
whether it met its obligations under this title.
    [(b) Second Study.--Seven years after the assumption of 
management by the Trust, the Government Accountability Office 
shall conduct a study of the activities of the Trust and shall 
report the results of the study to the Committees of Congress. 
The study shall provide an assessment of any failure to meet 
obligations that may be identified under subsection (a), and 
further evaluation on the ability of the Trust to meet its 
obligations under this title.]

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