Summary: S.638 — 105th Congress (1997-1998)All Information (Except Text)

Bill summaries are authored by CRS.

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Passed Senate amended (07/17/1998)

Mount St. Helens National Volcanic Monument Completion Act - Revises existing law to require the Secretary of the Interior to acquire, by exchange, the mineral and geothermal interests of each holder (the Burlington Northern, Incorporated or the Weyerhaeuser Company) in the Mount St. Helens National Volcanic Monument in the State of Washington: (1) within 180 days after enactment of this Act; or (2) as soon as practicable after the U.S. Court of Federal Claims determines the value of the interests to be conveyed by the holder if the Court is petitioned because of the Secretary's failure to make such determination within 180 days after the enactment of this Act or the holder disagrees with the Secretary's valuation (by specified methods) of the mineral and geothermal interests.

Sets forth requirements and administrative procedures for such exchange, including issuance of monetary credits to a holder for payment of not more than 50 percent of: (1) the bonus or other payments made by successful bidders in any sales of mineral, oil, gas, or geothermal leases under the Mineral Leasing Act, the Outer Continental Shelf Lands Act, or the Geothermal Steam Act of 1970; or (2) any royalty, rental, or advance royalty payment made to the United States to maintain any mineral, oil or gas, or geothermal lease issued under such Acts.