isting roads as necessary to access the parcels each 
party acquires in the exchange. 
(2) PUBLIC ACCESS.—The reciprocal easements 
exchanged under paragraph (1) shall provide for 
public access. 
(3) COST-SHARE AGREEMENT.—The Secretary 
and the Alaska Mental Health Trust may enter into 
a separate cost-share agreement to cover the cost of 
road maintenance with respect to the reciprocal 
easements exchanged under paragraph (1). 
(e) K–3 PARCEL LANDFILL BUFFER.— 
(1) IN GENERAL.—As a condition of the ex-
change under subsection (a), in conveying the parcel 
of non-Federal land described in section 3(4)(C) to 
the United States, the Alaska Mental Health Trust 
shall grant to the United States a 300-foot conserva-
tion easement abutting that parcel along the inter-
face of the parcel and the City of Ketchikan landfill 
(as in existence on the date of enactment of this 
Act), as generally depicted on map 1. 
(2) DEVELOPMENT
AND
OWNERSHIP.—The 
conservation easement described in paragraph (1) 
shall remain undeveloped and in the ownership of 
the Alaska Mental Health Trust. 
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(3) EQUALIZATION.—The value of the conserva-
tion easement described in paragraph (1) shall be in-
cluded in the value of the non-Federal land for pur-
poses of equalizing the values of the Federal land 
and the non-Federal land under subsection (j). 
(f) RESEARCH EASEMENTS.— 
(1) IN GENERAL.—In order to allow time for 
the completion of research activities of the Forest 
Service that are ongoing as of the date of enactment 
of this Act, in conveying the Federal land to the 
Alaska Mental Health Trust under subsection (a), 
the Secretary shall reserve research easements for 
the following Forest Service study plots (as in exist-
ence on the date of enactment of this Act): 
(A) The Sarkar research easement study 
plot on the parcel of Federal land described in 
section 3(2)(B), as generally depicted on map 
8, to remain in effect for the 10-year period be-
ginning on the date of enactment of this Act. 
(B) The Naukati commercial thinning 
study plot on the parcel of Federal land de-
scribed in section 3(2)(B), as generally depicted 
on map 8, to remain in effect for the 15-year 
period beginning on the date of enactment of 
this Act. 
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(C) The POW Yatuk study plot on the 
parcel of Federal land described in section 
3(2)(A), as generally depicted on map 8, to re-
main in effect for the 10-year period beginning 
on the date of enactment of this Act. 
(D) The POW Naukati study plot on the 
parcel of Federal land described in section 
3(2)(D), as generally depicted on map 8, to re-
main in effect for the 10-year period beginning 
on the date of enactment of this Act. 
(E) The Revilla George study plot on the 
parcel of Federal land described in section 
3(2)(G), as generally depicted on map 8, to re-
main in effect for the 10-year period beginning 
on the date of enactment of this Act. 
(2) 
PROHIBITED
ACTIVITIES.—The 
Alaska 
Mental Health Trust shall not construct any new 
road or harvest timber on any study plot covered by 
a research easement described in paragraph (1) dur-
ing the period described in subparagraph (A), (B), 
(C), (D), or (E) of that paragraph, as applicable. 
(g) AREA OF KARST CONCERN.— 
(1) IN GENERAL.—In conveying the parcels of 
Federal land described in subparagraphs (A) and 
(D) of section 3(2) to the Alaska Mental Health 
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Trust under subsection (a), the Secretary shall re-
serve to the United States a conservation easement 
that shall protect the aquatic and riparian habitat 
within the area labeled ‘‘Conservation Easement’’, as 
generally depicted on map 8. 
(2) PROHIBITED ACTIVITIES.—The conservation 
easement described in paragraph (1) shall prohibit 
within the area covered by the conservation ease-
ment— 
(A) new road construction and timber har-
vest within 100 feet of any anadromous water 
bodies (including underground water bodies); 
and 
(B) commercial mineral extraction. 
(h) COMPLIANCE WITH APPLICABLE LAW.—Prior to 
completing each phase of the land exchange described in 
subsection (n), the Secretary shall complete, for the land 
to be conveyed in the applicable phase, any necessary land 
surveys and required preexchange clearances, reviews, 
mitigation activities, and approvals relating to— 
(1) threatened and endangered species; 
(2) cultural and historic resources; 
(3) wetland and floodplains; and 
(4) hazardous materials. 
(i) APPRAISALS.— 
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(1) IN GENERAL.—Not later than 90 days after 
the date of enactment of this Act— 
(A) the Secretary and the Alaska Mental 
Health Trust shall select an appraiser to con-
duct appraisals of the Federal land and the 
non-Federal land; and 
(B) the Secretary shall issue all appraisal 
instructions for those appraisals. 
(2) REQUIREMENTS.— 
(A) IN
GENERAL.—All appraisals under 
paragraph (1) shall be conducted in accordance 
with nationally recognized appraisal standards, 
including— 
(i) the Uniform Appraisal Standards 
for Federal Land Acquisitions; and 
(ii) the Uniform Standards of Profes-
sional Appraisal Practice. 
(B) FINAL APPRAISED VALUE.— 
(i) IN GENERAL.—During the 3-year 
period beginning on the date on which the 
final appraised values of the Federal land 
and the non-Federal land for each phase of 
the exchange described in subsection (n) 
are approved by the Secretary, the Sec-
retary shall not be required to reappraise 
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or update the final appraised values of the 
Federal land and the non-Federal land. 
(ii) EXCHANGE AGREEMENT.—Begin-
ning on the date of entrance into an ex-
change agreement under subsection (a), no 
reappraisal or updates to the final ap-
praised values of the Federal land and the 
non-Federal land approved by the Sec-
retary shall be required. 
(3) PUBLIC REVIEW.—Before completing each 
phase of the land exchange described in subsection 
(n), the Secretary shall make available for public re-
view summaries of the appraisals of the Federal land 
and the non-Federal land for the applicable phase. 
(j) EQUAL VALUE LAND EXCHANGE.— 
(1) IN
GENERAL.—The value of the Federal 
land and the non-Federal land to be exchanged 
under subsection (a) shall be— 
(A) equal; or 
(B) equalized in accordance with this sub-
section. 
(2) SURPLUS OF FEDERAL LAND VALUE.— 
(A) IN GENERAL.—If the final appraised 
value of the Federal land (after applying any 
cash equalization credit or debit from phase 1 
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