SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Hood Bay Land Exchange Act of 
1997''.

SEC. 2. FINDINGS.

    The Congress makes the following findings:
        (1) The Alaska National Interest Lands Conservation Act 
    established the Admiralty Island National Monument which is managed 
    by the Secretary of Agriculture, by and through the Forest Service.
        (2) The Forest Service has established a policy of encouraging 
    the acquisition of private land inholdings within Admiralty Island 
    National Monument on a willing buyer/willing seller basis. Congress 
    has supported this policy, for example by passage of the Greens 
    Creek Land Exchange Act of 1996 which provided for a land exchange 
    of certain public and private lands in Admiralty Island National 
    Monument.
        (3) Lands owned by Alaska Pulp Corporation, consisting of 54 
    acres, more or less, located in Hood Bay on Admiralty Island within 
    the boundaries of the Kootznoowoo Wilderness are available for 
    transfer to Federal ownership on a willing seller/willing buyer 
    basis. The acquisition of these lands would provide Federal 
    ownership of this valuable land in a critical area of Admiralty 
    Island National Monument.
        (4) The United States is the owner of certain reversionary 
    interests to 143.87 acres, more or less, located adjacent to Silver 
    Bay near Sitka, Alaska, which interests were reserved in patent No. 
    1213671 issued to the Alaska Pulp Corporation on October 18, 1960. 
    The transfer of the reversionary interests of the United States in 
    such lands adjacent to Silver Bay to the Alaska Pulp Corporation 
    would facilitate future use and development of that land.
        (5) The future acquisition by the United States of the Chaik 
    Bay property on Admiralty Island to be incorporated into the 
    Kootznoowoo Wilderness would be in the public interest.

SEC. 3. DEFINITIONS.

    As used in this Act:
        (1) The term ``ANILCA'' means the Alaska National Interest 
    Lands Conservation Act (16 U.S.C. 3101 et seq.).
        (2) The term ``Company'' means the Alaska Pulp Corporation, an 
    Alaska corporation, its successors, and assigns.
        (3) The term ``Company Property'' means the property depicted 
    on United States Survey Plat 1058 approved March 20, 1917, 
    consisting of approximately 54 acres of land.
        (4) The term ``Federal Property'' means the reversionary 
    interest of the United States described in paragraphs (6) and (7) 
    of the patent dated October 18, 1960, granted by the Bureau of Land 
    Management to Alaska Lumber & Pulp Co., which was recorded at Book 
    15, Pages 271-273, Sitka Recording District on November 9, 1960. 
    The term ``Federal Property'' does not include the interests 
    described in paragraphs (1) through (5) of the said patent.
        (5) The term ``Monument'' means the Admiralty Island National 
    Monument, which was established by section 503 of ANILCA and which 
    is managed by the Secretary of Agriculture as a unit of the 
    National Forest System.
        (6) The term ``Secretary'' means the Secretary of Agriculture.
        (7) The term ``Sitka'' means the city and borough of Sitka, 
    Alaska, a home-rule borough formed in accordance with the laws of 
    the State of Alaska.
        (8) The term ``Sitka Property'' means the property depicted on 
    the maps entitled ``Sitka Property'', dated August 29, 1997, 
    consisting of approximately 49 acres of land.

SEC. 4. LAND EXCHANGE, TRANSFER, RELINQUISHMENT.

    (a) Exchange of Company and Federal Property.--After the Company 
conveys to the United States, by general warranty deed, all right, 
title, and interest of the Company in and to the Company Property, the 
Secretary shall within 60 days of acceptance of delivery of said deed, 
unconditionally and without limitation except as provided herein, 
relinquish to the Company all right, title, and interest of the United 
States in and to the Federal Property and shall evidence that 
relinquishment by conveying to the Company a quitclaim deed to the 
Federal Property.
    (b) Relinquishment of Property to Sitka.--Upon relinquishment of 
the Federal Property to the Company under subsection (a), the Company 
shall transfer all right, title, and interest of the Company in the 
Sitka Property to Sitka.
    (c) Availability of Maps.--The maps referred to in section 3(3) 
depicting the Company Property and in section 3(4) depicting the 
Federal Property shall be on file and available for public inspection 
in the Office of the Forest Supervisor, Chatham Area, Tongass National 
Forest, in Sitka, Alaska. The maps referred to in section 3(8) 
depicting the Sitka Property shall be on file and available for public 
inspection in the Office of the Manager of the city and borough of 
Sitka, Alaska, until the conveyance described in subsection (b), at 
which time the maps shall be recorded along with the deed.

SEC. 5. PROCESSING OF AND TERMS AND CONDITIONS RELATING TO LAND 
              EXCHANGE.

    (a) Surveys.--Notwithstanding any other provision of law, the 
Secretary of the Interior may conduct and approve all cadastral surveys 
that are necessary for completion of the exchange. The cost of any 
surveys shall be borne by the Company.
    (b) Equal Value Exchange.--The values of the Federal Property and 
the Company Property are deemed to be of equal value.
    (c) Administration.--The Secretary is directed to implement and 
administer the rights and obligations of the United States under this 
Act.
    (d) Cleanup Obligations.--Nothing in this Act shall impact or alter 
the Company's rights, duties, and obligations regarding investigation, 
remediation, cleanup, and restoration under its September 10, 1995, 
Commitment Agreement with the State of Alaska or other applicable law. 
The Company shall use its property consistent with all restrictive 
covenants, including those restrictive covenants recorded on September 
4, 1997.
    (e) Title Standards.--Title to the Company Property to be conveyed 
to the United States shall be acceptable to the Secretary consistent 
with the title review standard of the Attorney General of the United 
States.

SEC. 6. GENERAL PROVISIONS.

    (a) Management of Company Property.--Upon acquisition of the 
Company Property by the United States pursuant to this Act, said 
property shall be managed as a part of the Admiralty Island National 
Monument and the Kootznoowoo Wilderness.
    (b) Authorization To Negotiate for Acquisition of Property.--In 
furtherance of the purposes of the Kootznoowoo Wilderness, the 
Secretary, acting through the Forest Service, is authorized to enter 
into negotiations with the owners of private property in Chaik Bay on 
Admiralty Island, with the objective of acquiring such property. The 
Secretary is authorized to enter into an option to purchase or an 
exchange agreement with the owners of such property to be effected 
either through existing administrative mechanisms provided by law and 
regulation, or by subsequent ratification by Act of Congress.

                               Speaker of the House of Representatives.

                            Vice President of the United States and    
                                               President of the Senate.
Output: Hood Bay Land Exchange Act of 1997 - Provides for:  (1) the relinquishment, by quitclaim deed, of the reversionary interest of the United States in specified Federal land in Sitka, Alaska, to the Alaska Pulp Corporation in exchange, by general warranty deed, for specified Corporation property located within the Admiralty Island National Monument; and (2) the Corporation's transfer of specified property to Sitka. Deems the values of the Federal Property and the Corporation's Property to be equal. States that nothing in this Act shall impact or alter the Corporation's rights, duties, and obligations regarding investigation, remediation, cleanup, and restoration under its September 10, 1995, Commitment Agreement with the State of Alaska or other applicable law. Requires the Corporation Property acquired by the United States to be managed as a part of the Admiralty Island National Monument and the Kootznoowoo Wilderness. Authorizes the Secretary of Agriculture, acting through the Forest Service, to negotiate with the owners of private property in the Chaik Bay on Admiralty Island, with the objective of acquiring such property. Allows the Secretary to enter into an option to purchase or an exchange agreement with such property owners to be effected either through existing administrative mechanisms provided by law and regulation, or by subsequent ratification by Act of Congress.