Sec. 8. Valuation
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/bill/113/hr/4901/ih/section-8·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The overall value of the State land grant parcels and the unappropriated public land to be conveyed shall be equal, or if they are not equal, the values shall be equalized by the payment of money to the western State or to the Secretary as the circumstances require, so long as payment does not exceed 25 percent of the total value of the land or interests transferred out of Federal ownership. If a western State and the Secretary agree that the market value of a State land grant parcel or a parcel of unappropriated public land is less than $300 per acre, the Secretary may use a summary appraisal or statement of value made by a qualified appraiser in accordance with Internal Revenue Service standards instead of an appraisal compliant with the Uniform Appraisal Standards for Federal Land Acquisition.
The Secretary and any western State may agree to use a ledger account to make equal the value of lands relinquished by the western State and conveyed by the United States to the western State under this Act. The Secretary or the western State may, in accordance with section 206(f)(2)(B) of FLPMA (43 U.S.C. 1716(f)(2)(B))— assume costs or other responsibilities or requirements for conveying land under this Act that ordinarily are borne by the other party; and make adjustments to the relative values involved in the conveyance of land under this Act to compensate the Secretary or the western State for assuming such costs or other responsibilities or requirements.
If value is attributed to any parcel of Federal land that has been selected by a western State because of the presence of minerals under a lease pursuant to the Mineral Lands Leasing Act ( 30 U.S.C. 191 et seq. ) that is in a producing or producible status, and the lease is to be conveyed under this Act, the value of such parcel shall be reduced by the percentage which represents the likely Federal revenue sharing obligation under the Mineral Lands Leasing Act, but such adjustment shall not be considered as reflecting a property right of the western State.
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