70 



Sec. 513. Recordkeeping requirements. 



Sec. 514. Exemption from certain lease requirements. 



Sec. 515. No effect on ANILCA provisions. 



Sec. 516. Implementation. 



Sec. 517. Authorization of appropriations. 



1 TITLE I— GENERAL PROVISIONS 



2 SEC. 101. FAIR MARKET VALUE FOR RESOURCE DISPOSAL. 



3 (a) In General. — Notwithstanding any other provi- 



4 sion of law, no timber, minerals, forage, or other natural 



5 resource owned by the United States, no Federally owned 



6 water, and no hydroelectric energy generated at a Federal 



7 facility may be sold, leased, or otherwise disposed of by 



8 any department, agency, or instrumentality of the United 



9 States for an amount less than fair market value, as deter- 



10 mined by such department, agency, or instrumentality. 



1 1 (b) Existing Contracts, Leases, Etc. — 



12 (1) Existing arrangements. — The provisions 



13 of subsection (a) shall not apply to any existing con- 



14 tract, lease, or other binding arrangement entered 



15 into before the date of the enactment of this Act un- 



16 less such contract, lease or other arrangement is re- 



17 newed or extended after such date of enactment. 



18 (2) Arrangements entered into in 5-year 



19 PERIOD. — The provisions of subsection (a) shall take 



20 effect on the date 5 years after the date of enact- 



21 ment of this Act in the case of any contract, lease, 



22 or other binding arrangement entered into or re- 



