SB 88 Summary

• Authorizes the Department of Natural Resources to exchange approximately 18,258 acres of Alaska Mental Health Trust land for approximately 20,580 acres of United States Forest Service land in Southeast Alaska

• Alaska Mental Health Trust Authority must pay all costs of the exchange, including land surveys, appraisals, environmental reviews, and federal agency staff costs upon request of the Secretary of Agriculture

• Exchange occurs in two phases: Phase 1 exchanges parcels K-1 and K-2 for the Naukati Phase 1 parcel; Phase 2 exchanges remaining parcels K-3 through NB-1 for remaining federal parcels

• Land values must be equalized through removal of parcels, cash payments, or partial parcel removals; appraised land values cannot be reappraised once approved by both parties

• Act takes effect only if the federal Alaska Mental Health Trust Land Exchange Act of 2017 passes Congress, the Department of Natural Resources determines the exchange is in the trust's best interests by January 1, 2024, and the Alaska Mental Health Trust Authority approves the exchange by that date