To require the Secretary of the Interior to exchange certain lands located in Hinsdale, Colorado.

[AI summary unavailable — showing source text] Requires the Secretary of the Interior to convey specified selected lands in Hinsdale County, Colorado, to Lake City Ranches, Ltd. (LCR) (a Texas limited partnership) in exchange for acceptable offered lands which lie within, or in proximity to, the Handies Peak or Red Cloud Peak Wilderness Study Areas or the Alpine Loop Backcountry Bi-way in such county. Provides that such exchange shall be: (1) contingent upon LCR granting the Secretary of the Interior a permanent conservation easement to a specified portion of the lands conveyed to it; and (2) subject to the standard appraisal requirements and equalization payment limitations set forth in provisions of the Federal Land Policy and Management Act of 1976 and to reviews and approvals relating to threatened and endangered species, cultural and historical resources, and hazardous materials under other Federal laws.…