To amend the Federal Land Policy and Management Act of 1976 to transfer to State governments the authority of the Bureau of Land Management to require bonds or other financial guarantees for the reclamation of hardrock mineral operations.

Amends the Federal Land Policy and Management Act of 1976 to require the Secretary of the Interior, in lieu of requiring a bond or other financial guarantee under regulations for reclamation of hardrock mining operations, to accept evidence of any financial guarantee required under State law or regulations, held or approved by a State agency for the area covered by the notice or plan of operations, and determined by such agency to be reasonable for the amount of reclamation. Prohibits the Secretary from rejecting any submitted financial instrument if such instrument is satisfactory under State law and redeemable by the Secretary.