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set forth in this section or the Agreement, nothing
in this section or in the Agreement shall be con-
strued to enlarge or diminish the rights, privileges,
or obligations of any person, including specifically
the preference for subsistence uses and access to
subsistence resources provided under the Alaska Na-
tional Interest Lands Conservation Act (16 U.S.C.
3101 et seq.).
SEC. 302. ALASKA PENINSULA SUBSURFACE CONSOLIDA-
TION.
(a) DEFINITIONS.—As used in this section:
(1) AGENCY.—The term agency—
(A) means any instrumentality of the Unit-
ed States, and any Government corporation (as
defined in section 9101(1) of title 31, United
States Code); and
(B) includes any element of an agency.
(2) ALASKA NATIVE CORPORATION.—The term
‘‘Alaska Native Corporation’’ has the same meaning
as is provided for ‘‘Native Corporation’’ in section
3(m) of the Alaska Native Claims Settlement Act
(43 U.S.C. 1602(m)).
(3) FEDERAL LANDS OR INTEREST THEREIN.—
The term ‘‘Federal lands or interests therein’’
means any lands or properties owned by the United
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States (A) which are administered by the Secretary,
or (B) which are subject to a lease to third parties,
or (C) which have been made available to the Sec-
retary for exchange under this section through the
concurrence of the director of the agency administer-
ing such lands or properties: Provided however, That
excluded from such lands shall be those lands which
are within an existing conservation system unit as
defined in section 102(4) of the Alaska National In-
terest Lands Conservation Act (16 U.S.C. 3102(4)),
and those lands the mineral interest for which are
currently under mineral lease.
(4) KONIAG.—The term ‘‘Koniag’’ means
Koniag, Incorporated, which is a regional Corpora-
tion.
(5) REGIONAL CORPORATION.—The term ‘‘Re-
gional Corporation’’ has the same meaning as is pro-
vided in section 3(g) of the Alaska Native Claims
Settlement Act (43 U.S.C. 1602(g)).
(6) SECRETARY.—Except as otherwise provided,
the term ‘‘Secretary’’ means the Secretary of the In-
terior.
(7) SELECTION RIGHTS.—The term ‘‘selection
rights’’ means those rights granted to Koniag, and
confirmed as valid selections (within Koniag’s enti-
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tlement) pursuant to subsections (a) and (b) of sec-
tion 12, and section 14(h)(8), of the Alaska Native
Claims Settlement Act (43 U.S.C. 1611 and
1613(h)(8)), to receive title to the oil and gas rights
and other interests in the subsurface estate of the
approximately 275,000 acres of public lands in the
State of Alaska identified as ‘‘Koniag Selections’’ on
the map entitled ‘‘Koniag Interest Lands, Alaska
Peninsula’’, dated May 1989.
(b) VALUATION OF KONIAG SELECTION RIGHTS.—
(1) IN GENERAL.—Pursuant to paragraph (2)
of this subsection, the Secretary shall value the Se-
lection Rights which Koniag possesses within the
boundaries of Aniakchak National Monument and
Preserve, Alaska Peninsula National Wildlife Ref-
uge, and Becharof National Wildlife Refuge.
(2) VALUE.—
(A) IN GENERAL.—The value of the selec-
tion rights shall be equal to the fair market
value of—
(i) the oil and gas interests in the
lands or interests in lands that are the
subject of the selection rights; and
(ii) in the case of the lands or inter-
ests in lands for which Koniag is to receive
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the entire subsurface estate, the subsurface
estate of the lands or interests in lands
that are the subject of the selection rights.
(B) APPRAISAL.—
(i) SELECTION OF APPRAISER.—
(I) IN GENERAL.—Not later than
90 days after the date of enactment of
this section the Secretary and Koniag
shall meet to select a qualified ap-
praiser to conduct an appraisal of the
selection rights. Subject to subclause
(II), the appraiser shall be selected by
the mutual agreement of the Sec-
retary and Koniag.
(II) FAILURE TO AGREE.—If the
Secretary and Koniag fail to agree on
an appraiser by the date that is 60
days after the date of the initial meet-
ing referred to in subclause (I), the
Secretary and Koniag shall, by the
date that is not later than 90 days
after the date of the initial meeting,
each designate an appraiser who is
qualified to perform the appraisal.
The 2 appraisers so identified shall
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select a third qualified appraiser who
shall perform the appraisal.
(ii) STANDARDS
AND
METHODOL-
OGY.—The appraisal shall be conducted in
conformity with the standards of the Ap-
praisal Foundation (as defined in section
1121(9) of the Financial Institutions Re-
form, Recovery, and Enforcement Act of
1989 (12 U.S.C. 3350(9)).
(iii) SUBMISSION OF APPRAISAL RE-
PORT.—Not later than 180 days after the
selection of an appraiser pursuant to
clause (i), the appraiser shall submit to the
Secretary and to Koniag a written ap-
praisal report specifying the value of the
selection rights and the methodology used
to arrive at the value.
(C) DETERMINATION OF VALUE.—
(i) DETERMINATION
BY
THE
SEC-
RETARY.—Not later than 60 days after the
date of the receipt of the appraisal report
under subparagraph (B)(iii), the Secretary
shall determine the value of the selection
rights and shall notify Koniag of the deter-
mination.
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(ii) ALTERNATIVE
DETERMINATION
OF VALUE.—
(I) IN
GENERAL.—Subject to
subclause (II), if Koniag does not
agree with the value determined by
the Secretary under clause (i), the
procedures specified in section 206(d)
of the Federal Land Policy and Man-
agement Act of 1976 (43 U.S.C. 1716
(d)) shall be used to establish the
value.
(II) AVERAGE
VALUE
LIMITA-
TION.—The average value per acre of
the selection rights shall not be less
than the value utilizing the risk ad-
justed discount cash flow methodol-
ogy, but in no event may exceed $300.
(c) KONIAG ACCOUNT.—
(1) IN
GENERAL.—(A) The Secretary shall
enter into negotiations for an agreement or agree-
ments to exchange Federal lands or interests therein
which are in the State of Alaska for the Selection
Rights.
(B) If the value of the Federal property to be
exchanged is less than the value of the Selection