A bill to further amend the Mineral Leasing Act of 1920 (30 U.S.C. 201 (a), to authorize the Secretary of the Interior to exchange Federal coal leases and to encourage recovery of certain coal deposits, and for other purposes.

(Measure indefinitely postponed in Senate, H.R. 6816 passed in lieu)

Directs the Secretary of the Interior to issue coal leases on other Federal lands in the State of New Mexico to the owner or owners of specified Federal coal leases upon surrender of such leases, within 30 months of enactment.

Describes the area in which the new leases will be issued.

Provides that the leases issued shall be equal in value to the leases surrendered, but authorizes the Secretary to receive or pay a cash amount of up to 25 percent of the value of the leases to be issued in order to equalize the exchange.

States that the new leases are to contain the same terms and conditions as the leases surrendered as of the date of the exchange.

Exempts the Secretary from any requirement or obligation to take any action or make any commitment to a lessee or lease applicant concerning the issuance, administration, or development of any lease.