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(2) the value of the Federal land shall be consid-
ered to be $250,000.
(c) ADMINISTRATION OF LAND ACQUIRED BY UNITED
STATES.—On acquisition by the Secretary, the Secretary
shall manage the non-Federal land in accordance with—
(1) the Act of March 1, 1911 (commonly known
as the ‘‘Weeks Act’’) (16 U.S.C. 480 et seq.); and
(2) any other laws (including regulations) appli-
cable to the National Forest System.
(d) CONDITIONS
ON
CONVEYANCE
OF
FEDERAL
LAND.—The conveyance by the Secretary under subsection
(a) shall be subject to the conditions that—
(1) the recipient of the Federal land convey all
160 acres of the Federal land to the Council not later
than 120 days after the date on which the recipient
receives title to the Federal land;
(2) in accordance with section 4(a), the Sec-
retary grant to the owner of Project No. 67 an ease-
ment; and
(3) in accordance with section 4(b), the owner of
Project No. 67 has the right of first refusal regarding
any reconveyance of the Federal land by the Council.
(e) DISPOSITION AND USE OF CASH EQUALIZATION
FUNDS.—
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(1) IN GENERAL.—The Secretary shall deposit
the cash equalization payment received under sub-
section (a)(1) in the fund established by Public Law
90–171 (commonly known as the ‘‘Sisk Act’’) (16
U.S.C. 484a).
(2) USE.—Amounts deposited under paragraph
(1) shall be available to the Secretary until expended,
without further appropriation, for the acquisition of
land and any interests in land for the National For-
est System in the State of California.
(f) COST COLLECTION FUNDS.—
(1) IN GENERAL.—The owner of the non-Federal
land shall pay to the Secretary all direct costs associ-
ated with processing the land exchange under this sec-
tion.
(2) COST COLLECTION ACCOUNT.—
(A) IN
GENERAL.—Any amounts received
by the Secretary under paragraph (1) shall be
deposited in a cost collection account.
(B) USE.—Amounts deposited under sub-
paragraph (A) shall be available to the Secretary
until expended, without further appropriation,
for the costs associated with the land exchange.
(C) REFUND.—The Secretary shall provide
to the owner of the non-Federal land a refund of
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any amounts remaining in the cost collection ac-
count after completion of the land exchange that
are not needed to cover expenses of the land ex-
change.
(g) LAND AND WATER CONSERVATION FUND.—For
purposes of section 7 of the Land and Water Conservation
Fund Act of 1965 (16 U.S.C. 460l–9), the boundaries of
the Sierra National Forest shall be considered to be the
boundaries of the Sierra National Forest as of January 1,
1965.
SEC. 4. GRANT OF EASEMENT AND RIGHT OF FIRST RE-
FUSAL.
In accordance with the agreement entered into by the
Forest Service, the Council, and the owner of Project No.
67 entitled the ‘‘Agreement to Convey Grant of Easement
and Right of First Refusal’’ and executed on April 17,
2006—
(1) the Secretary shall grant an easement to the
owner of Project No. 67; and
(2) the Council shall grant a right of first refusal
to the owner of Project No. 67.
SEC. 5. EXERCISE OF DISCRETION.
In exercising any discretion necessary to carry out this
Act, the Secretary shall ensure that the public interest is
well served.
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SEC. 6. GRANTS TO IMPROVE THE COMMERCIAL VALUE OF
FOREST BIOMASS FOR ELECTRIC ENERGY,
USEFUL 
HEAT, 
TRANSPORTATION 
FUELS,
AND OTHER COMMERCIAL PURPOSES.
Section 210(d) of the Energy Policy Act of 2005 (42
U.S.C. 15855(d)) is amended by striking ‘‘$50,000,000 for
each of the fiscal years 2006 through 2016’’ and inserting
‘‘$50,000,000 for fiscal year 2006 and $35,000,000 for each
of fiscal years 2007 through 2016’’.
Attest:
Secretary.