Mount St. Helens National Volcanic Monument Completion Act
Became Public Law No: 105-279.
Congressional Research Service
Official summary
Version 36 · Passed House amended · Sep 23, 1998
Mount St. Helens National Volcanic Monument Completion Act - Requires the Secretary of the Interior to acquire, by exchange, the mineral and geothermal interests of each company (Burlington Northern, Incorporated or the Weyerhaeuser Company) in the Mount St. Helens National Volcanic Monument in the State of Washington. Sets forth requirements and administrative procedures for such exchange, including requiring the Secretary, in exchange for all mineral and geothermal interests acquired from each company, to issue to each such company monetary credits with a value of $2.1 million that may be used for the payment of: (1) not more than 50 percent of 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 in the contiguous 48 States; (2) not more than ten percent of the bonus or other payments made by successful bidders in any sales of such leases under such Acts; (3) not more than 50 percent of any royalty, rental, or advance royalty payment made to the United States to maintain any mineral, oil, or gas, or geothermal lease in the 48 contiguous States issued under such Acts; or (4) not more than ten percent of any royalty, rental, or advance royalty payment made to the United States to maintain any mineral, oil, or gas, or geothermal lease in Alaska issued under such Acts. Requires the Secretary to accept credits in the same manner as cash for the payments. Requires that all amounts in the form of credits accepted by the Secretary for the payments be considered to be money received for the purpose of the Mineral Leasing Act and the Geothermal Steam Act of 1970. Directs the Secretary, not later than 30 days after the completion of the required exchange with a company, to establish an exchange account for that company for the monetary credits issued to it. Permits: (1) a company to transfer or sell any credits in the company's account to another person; and (2) such credits transferred or sold to be used only by a person that is qualified to bid on, or that holds, a mineral, oil, or gas lease under the Mineral Leasing Act, the Outer Continental Shelf Lands Act, or the Geothermal Steam Act of 1970. Terminates an account created for a company five years after creation. Requires the Secretary to report to specified congressional committees on: (1) all remaining privately held mineral interests within the boundaries of the Monument; and (2) a plan and a timetable by which the Secretary would propose to complete the acquisition of such interests.
Source last updated: Apr 7, 2025. Consult Congress.gov for the current record.
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