Valles Caldera Preservation Act

[AI summary unavailable — showing source text] Title I: Valles Caldera National Preserve and Trust - Valles Caldera Preservation Act - Authorizes the Secretary of Agriculture to acquire all or part of the Baca ranch in New Mexico. Requires the Secretary of the Interior, upon acquisition of the Baca ranch, to assume administrative jurisdiction over those lands within the boundaries of the Bandelier National Monument. Directs the Secretary of Agriculture, acting through the Forest Service, to: (1) prepare a report of management alternatives which may provide more coordinated land management within the Lower Alamo watershed, allow for improved management of elk and other wildlife populations ranging between the Santa Fe National Forest and the Bandelier National Monument, and include proposed boundary adjustments between such Forest and Monument to facilitate those objectives; and (2) submit the report to specified congressional committees. Makes the acquisition of the ranch subject to all outstanding valid existing mineral interests. Authorizes and directs the Secretary to negotiate the acquisition of any fractional interest in the subsurface estate on a willing seller basis for up to the appraised fair market value. Authorizes t…