A bill to repeal the Act of June 23, 1936, to authorize the Secretary of the Interior to exchange certain lands, and for other purposes.

Repeals the act directing the Secretary of the Interior to sell to the city of Los Angeles, California, various public lands in California, and granting rights-of-way over public lands and reserved lands to the city of Los Angeles in Mono County in the State of California.

Authorizes the Secretary of the Interior and the Secretary of Agriculture to convey to the city of Los Angeles, such easements and rights-of-way on, over, under, through, and across such Federal lands in Mono County, California, as necessary to enable the city of Los Angeles to operate all works in existance on the date of the enactment of this Act and which are necessary or appurtenant to the generation and utilization of electric energy, or to the collection and distribution of water.

Authorizes the conveyance of specified lands totaling 165 acres to the city of Los Angeles subject to the condition that the city of Los Angeles convey to the United States, all right, title, and interest in and to other described lands, reserving to the city all water and water rights.