Glacier Bay National Park Boundary Adjustment Act of 1996

Glacier Bay National Park Boundary Adjustment Act of 1996 - Provides for a transfer of specified State lands in Alaska to the Secretary of the Interior in exchange for specified Federal lands to be completed within six months, absent extraordinary circumstances, after the issuance of a license to Gustavus Electric Company (GEC) by the Federal Energy Regulatory Commission (FERC) for the construction and operation of a hydroelectric project on such Federal lands. Designates specified State lands and waters in Alaska as wilderness to ensure that this transaction maintains the same amount of area of designated wilderness that currently exists, upon consummation of the land exchange. Allows specific boundaries and acreage of such wilderness designations to be reasonably adjusted to equal the total wilderness acreage deleted from Glacier Bay National Park and Preserve pursuant to this Act. Conditions such land exchange on: (1) FERC's having conducted economic and environmental analyses pursuant to the Federal Power Act (FPA), following the submission of an acceptable license application, which conclude that the construction and operation of a hydroelectric power project on such lands will not adversely impact the purposes and values of the Preserve (as constituted after the consummation of the land exchange), will comply with the requirements of the National Historic Preservation Act, and can be accomplished in an economically feasible manner; (2) FERC holding at least one public meeting in Gustavus, Alaska, allowing its citizens to express their views on the proposed project; (3) FERC having determined the minimum amount of land necessary to construct and operate the project; (4) GEC having been granted a FERC license that requires, inter alia, the licensee to submit an acceptable financing plan to FERC before project construction commences, and FERC approving such plan; and (5) language having been placed in the deed relating to the land references in this Act that ensures that in the event the project is not built or ceases operation, this land will be managed in a manner compatible with the values and purposes of the Preserve. Makes the FERC licensing process applicable to any application submitted by GEC to FERC for the right to construct and operate a hydropower project on specified lands. Authorizes FERC to accept and consider an application if filed by GEC for such construction and operation, notwithstanding FPA provisions, if submitted within three years of this Act's enactment. Sets forth additional provisions regarding issuance of a license. (Sec. 4) Directs the Secretary to issue a Special Use Permit to GEC to ensure completion of the analyses and to undertake activities necessary to complete this task. Authorizes the Secretary to impose conditions in the permit as needed to protect the resources and values of the Preserve. Requires the lands acquired from Alaska to be added to and administered as part of the National Park System, subject to valid existing rights. Exempts GEC from making Federal land use payments under the FPA.