CONVEYANCE OF LAND AND FACILITIES.

SEC. 3. CONVEYANCE OF LAND AND FACILITIES. (a) Conveyances to Association.— (1) Provo reservoir canal.— (A) In general.—In accordance with the terms and conditions of the Agreement and subject to subparagraph (B), the Secretary shall convey to the Association, all right, title, and interest of the United States in and to the Provo Reservoir Canal. (B) Condition.—The conveyance under subparagraph (A) shall not be completed until the Secretary executes the Agreement and accepts future arrangements entered into by the Association, the District, the Central Utah Water Conservancy District, and the Jordan Valley Water Conservancy District providing for the operation, ownership, financing, and improvement of the Provo Reservoir Canal. (2) Pleasant grove property.—In accordance with the terms and conditions of the Agreement, the Secretary shall convey to the Association, all right, title, and interest of the United States in and to the Pleasant Grove Property. (b) Conveyance to District.— (1) In general.—In accordance with the terms and conditions of the Agreement, and subject to the execution of the Agreement by the Secretary, the Secretary shall convey to the District, all right, title, and interest of the United States in and to Salt Lake Aqueduct. (2) Easements.— (A) In general.—As part of the conveyance under paragraph (1), the Secretary shall grant to the District permanent easements to— (i) the National Forest System land on which the Salt Lake Aqueduct is located; and (ii) land of the Aqueduct Division of the Provo River Project that intersects the parcel of non-Federal land authorized to be conveyed to the United States under section 104(a) of Public Law 107-329 (116 Stat. 2816). (B) Purpose.—The easements conveyed under subparagraph (A) shall be for the use, operation, maintenance, repair, improvement, or replacement of the Salt Lake Aqueduct by the District. (C) Limitation.—The United States shall not carry out any activity on the land subject to the easements conveyed under subparagraph (A) that would materially interfere with the use, operation, maintenance, repair, improvement, or replacement of the Salt Lake Aqueduct by the District. (D) Boundaries.—The boundaries of the easements conveyed under subparagraph (A) shall be determined by the Secretary, in consultation with the District and the Secretary of Agriculture. (E) Transfer of administrative jurisdiction.— (i) In general.—On conveyance of the easement to the land described in subparagraph (A)(ii), the Secretary, subject to the easement, shall transfer to the Secretary of Agriculture administrative jurisdiction over the land. (ii) Administrative site.—The land transferred under clause (i) shall be administered by the Secretary of Agriculture as an administrative site. (F) Administration.—The easements conveyed under subparagraph (A) shall be administered by the Secretary of Agriculture in accordance with section 501(b)(3) of the Federal Land Policy and Management Act of 1976 (43 U.S.C. 1761(b)(3)). (c) Consideration.— (1) Association.— (A) In general.—In exchange for the conveyance under subsection (a)(1), the Association shall pay the Secretary an amount that is equal to the sum of— (i) the net present value of any remaining debt obligation of the United States with respect to the Provo Reservoir Canal; and (ii) the net present value of any revenues from the Provo Reservoir Canal that, based on past history— (I) would be available to the United States but for the conveyance of the Provo Reservoir Canal under subsection (a)(1); and (II) would be deposited in the reclamation fund established under the first section of the Act of June 17, 1902 (43 U.S.C. 391), and credited under the terms of Reclamation Manual/Directives and Standards PEC 03-01. (B) Deduction.—In determining the net present values under clauses (i) and (ii) of subparagraph (A), the Association may deduct from the net present value such sums as are required for the reimbursement described in the Agreement. (2) District.— (A) In general.—In exchange for the conveyance under subsection (b)(1), the District shall pay the Secretary an amount that is equal to the sum of— (i) the net present value of any remaining debt obligation of the United States with respect to the Salt Lake Aqueduct; and (ii) the net present value of any revenues from the Salt Lake Aqueduct that, based on past history— (I) would have been available to the United States but for the conveyance of the Salt Lake Aqueduct under subsection (b)(1); and (II) would be deposited in the reclamation fund established under the first section of the Act of June 17, 1902 (43 U.S.C. 391), and credited under the terms of Reclamation Manual/Directives and Standards PEC 03-01. (B) Deduction.—In determining the net present values under clauses (i) and (ii) of subparagraph (A), the District may deduct from the net present value such sums as are required for the reimbursement described in the Agreement. (d) Payment of Costs.—In addition to amounts paid to the Secretary under subsection (c), the Association and the District shall, in accordance with the Agreement, pay the Secretary— (1) any necessary and reasonable administrative and real estate transfer costs incurred by the Secretary in carrying out the conveyance; and (2) one-half of any necessary and reasonable costs associated with complying with— (A) the National Environmental Policy Act of 1969 (42 U.S.C. 4321 et seq.); (B) the Endangered Species Act of 1973 (16 U.S.C. 1531 et seq.); and (C) (i) the National Historic Preservation Act (16 U.S.C. 470 et seq.); and (ii) any other Federal cultural resource laws. (e) Compliance With Environmental Laws.— (1) In general.—Before conveying land and facilities under subsections (a) and (b), the Secretary shall comply with all applicable requirements under— (A) the National Environmental Policy Act of 1969 (42 U.S.C. 4321 et seq.); (B) the Endangered Species Act of 1973 (16 U.S.C. 1531 et seq.); and (C) any other law applicable to the land and facilities. (2) Effect.—Nothing in this Act modifies or alters any obligations under— (A) the National Environmental Policy Act of 1969 (42 U.S.C. 4321 et seq.); or (B) the Endangered Species Act of 1973 (16 U.S.C. 1531 et seq.).