A bill to amend the Mineral Leasing Act of 1920, as amended, to provide limited authority for negotiated sales of Federal coal and for payment of fair market value for such coal, and for other purposes.

Amends the Mineral Leasing Act of 1920 to authorize the Secretary of the Interior to divide any lands subject to such Act classified for coal leasing into leasing tracts which will permit the mining of all coal which can be economically extracted from such tracts.

Permits the Secretary to negotiate the sale at fair market value of Federal coal.