Alaska Land Swap: Securing Conservation After Exxon Valdez Oil Spill
This Act authorizes a land exchange between the US government and Chugach Alaska Corporation to resolve a conflict over ownership rights resulting from the Exxon Valdez oil spill protection program. The Federal government acquires subsurface rights under protected conservation land, consolidating Federal ownership. In return, the Corporation receives a smaller area of Federal fee simple land (surface and subsurface).
Key points
Consolidation of Federal Ownership: The US government gains subsurface rights to approximately 231,000 acres of land where it already held surface rights or conservation easements, resolving the conflict between conservation goals and subsurface development rights.
Land Exchange: Chugach Alaska trades these subsurface rights for approximately 65,403 acres of Federal fee simple land, allowing it to meet its responsibilities to its shareholders.
Status:
Expired
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