Admiralty Island Land Exchange Act of 1986

(Measure passed House, amended)

Admiralty Island Land Exchange Act of 1986 - Offers to transfer specified lands and make monetary payments to Shee Atika, Inc. and Sealaska, Inc., Alaska Native Corporations, in exchange for the Cube Cove lands on Admiralty Island, Alaska. Grants Shee Atika, Inc. 120 days and Sealaska, Inc. 90 days after this Act's enactment in which to accept such offer, unless the Secretary of Agriculture allows additional time. States that an exchange will still take place if only Shee Atika, Inc., accepts the offer, but not if only Sealaska, Inc. does so. Provides that if only Shee Atika, Inc. accepts then the terms of the offer will be changed as specified.

Requires the Secretary of the Interior to issue interim conveyances to such corporations within 180 days of notification of the offers' acceptance.

Incorporates such newly acquired lands on Admiralty Island into the Admiralty Island National Monument and Admiralty Island Wilderness.

Sets forth the terms under which timber harvesting on Cube Cove lands and mining at Greens Creek may continue after an acceptance of the exchange.

Sets forth the terms of reservation of certain rights and perpetual easements to the United States in the lands conveyed for Admiralty Island lands.

Requires the Secretary of Agriculture to construct the Baranof Road up to the standard of logging roads elsewhere in the Tongass National Forest. Sets forth a timetable for road construction.

States that lands acquired by the United States in the exchange shall not be subject to any encumberances.

Withdraws U.S. lands offered for exchange from entry and location under the mining and public lands laws for 180 days or until the Corporations accept the exchange, whichever is earlier.

Exempts activities taken under this Act from specified Federal law provisions. Limits standing and jurisdiction concerning any claims brought under this Act to the parties directly affected by this Act and to the U.S. District Court of Alaska.

Makes funds necessary to implement this Act available from timber and other resources receipts from National Forest System lands.

States that acceptance of this offer constitutes satisfaction of the entitlements of the Alaska Native Claims Settlement Act.

Directs the Secretary of Agriculture to enter into negotiations with Kootznoowoo, Inc. to acquire specified lands on Admiralty Island in exchange for specified National Forest lands.