A bill to provide for the orderly disposal of certain Federal lands in Nevada and for the acquisition of certain other lands in the Lake Tahoe Basin, and for other purposes.

[AI summary unavailable — showing source text] Directs the Secretary of the Interior to dispose of specified lands under the jurisdiction of the Bureau of Land Management in Clark and Washoe Counties, Nevada. Requires the Secretary and the affected local governmental jurisdictions to jointly develop regulations and select lands to be offered for sale. Sets forth the formula for allocating the revenues from such sales to the Treasury of the United States, the State of Nevada, and the county or municipality within the boundaries of which such land sale occurred. Requires the States of Nevada and California to submit to Congress for ratification State-approved amendments to the Tahoe Regional Planning Compact for the continuation of such sales and revenue sharing with the municipalities beyond a specified time. Authorizes the Secretary of Agriculture to acquire specified unimproved lands to be administered as part of the United States Forest System or, if unsuitable for administration as such, to be transferred to a unit of State or local government with specified restrictions. Permits the acquisition of specified portions of the Lake Tahoe Basin if such lands are being used, or a threat exists that they will be used, in a manner …