Federal Land Exchange Facilitation Act of 1988 - Amends the Federal Land Policy and Management Act of 1976 to require the Secretaries of the Interior and Agriculture to promulgate regulations relating to the exchange of land or land interests, including the timing of appraisals and the submission of appraisals in disagreement to binding arbitration. Requires regulations governing appraisals to reflect nationally recognized appraisal standards and the differences between acquisition appraisals and transfer appraisals.
Permits each Secretary to exchange land or interests of approximately equal value under certain circumstances if to do so would be in the public interest and would expedite the exchange.
Authorizes appropriations for FY 1989 through 1998 for land exchange activities.
States that the Alaska Native Claims Settlement Act and the Alaska National Interest Lands Conservation Act shall remain unaffected by this Act.
Amends the National Forest Management Act of 1976 to increase the value of land purchases or exchanges requiring congressional notification. Requires oversight reports to include relative value adjustments.
Expands the exchange authority of the Secretary of Agriculture to include National Forest System lands. (Current law limits such authority to national forest lands.)
Directs the Secretary of the Interior to assess costs and benefits associated with improvements in existing methods for acquiring, disseminating, and using information about Federal and other lands. Requires the Secretary to report to the Congress within one year on the results of such assessment, including recommendations on a multipurpose cadastre.
Authorizes the Secretary concerned and other parties involved in a land exchange to mutually agree to waive the requirement for the payment of money to equalize values where the Secretary determines that the exchange will be expedited and the public interest will be better served by such a waiver. Restricts the amount which may be so waived. Prohibits the Secretary of Agriculture from agreeing to waive any such requirement for payment of money to the United States.
Authorizes the Secretary of the Interior to revoke, modify, or terminate part of a land withdrawal or land classification as may be necessary to deliver clear title to land involved in an exchange when the sole impediment to such exchange is an order under a specified civil action. Outlines the requirements necessary for the Secretary to exercise such authority, including a specified congressional notice-and-wait requirement. Provides that such authority expires on December 31, 1990, or when the specified court order is no longer effective, whichever occurs first.