An Act to authorize and direct the Secretary of Energy to sell the Alaska Power Administration, and to authorize the export of Alaska North Slope crude oil, and for other purposes.

TABLE OF CONTENTS:

Title I: Alaska Power Administration Asset Sale and

Termination

Title II: Exports of Alaskan North Slope Oil

Title III: Outer Continental Shelf Deep Water Royalty Relief

Title IV: Miscellaneous

Title I: Alaska Power Administration Asset Sale and Termination - Alaska Power Administration Asset Sale and Termination Act - Directs the Secretary of Energy to sell: (1) the Snettisham Hydroelectric Project to the Alaska Industrial Development and Export Authority (or its successor State agency or authority); and (2) the Eklutna Hydroelectric Project to the Municipality of Anchorage, the Chugach Electric Association, Inc., and the Matanuska Electric Association, Inc. Mandates that sale proceeds be deposited into the Treasury to the credit of miscellaneous receipts. Authorizes appropriations to prepare and acquire Eklutna and Snettisham assets for sale and conveyance.

Authorizes the Alaska Power Administration to expend certain funds contributed by the purchasers or customers to improve and maintain Eklutna or Snettisham.

(Sec. 104) Declares that both Projects shall continue to be exempt from certain Federal Power Act licensing requirements (subject to a certain Memorandum of Agreement). Denies such exemption to subsequent assignments of interest, unless the transferee is the Alaska Electric Generation and Transmission Cooperative Inc.

Grants jurisdiction to the U.S. District Court for the District of Alaska to review and enforce such Memorandum, including the remedy of specific performance.

Provides for an action seeking review of a Fish and Wildlife Program of the Governor of Alaska under the Memorandum, or challenging actions of the Memorandum parties before adoption of the Program, if it is brought within 90 days after the Governor adopts such Program.

Directs the Secretary of the Interior to: (1) issue rights-of-way with respect to certain Eklutna lands to the Alaska Power Administration for subsequent reassignment to the Eklutna Purchasers at no cost to them; and (2) convey to the State of Alaska (with respect to certain Eklutna and Snettisham lands) improved lands under certain statutory selection entitlements.

(Sec. 105) Declares that the sale of the Alaska Power Administration's hydroelectric projects, and their subsequent exemption from the licensing requirements of the Federal Power Act, do not apply to other Federal hydroelectric projects.

Title II: Exports of Alaskan North Slope Oil - Amends the Mineral Leasing Act to permit the export of Alaskan North Slope oil unless the President finds, within five months after enactment of this Act, that such exportation is not in the national interest. Sets forth mandatory considerations in evaluating whether such exportation is in the national interest, including an environmental review and supply and employment impact analysis. Mandates that, except in certain cases, such oil be transported by U.S.-owned merchant marine vessels. Retains the President's authority to prohibit exportation of the oil.

Instructs the Secretary of Commerce to issue, within 30 days after the President's national interest determination, necessary rules, including any licensing requirements and conditions, to implement such determination.

Directs the Secretary to recommend that the President take appropriate action (including modification of export authorization) if oil exports under authority of this Act have caused sustained material supply shortages or price increases significantly above world market levels, together with sustained material adverse effects upon domestic employment.

(Sec. 202) Instructs the Comptroller General to review and report to specified congressional committees on energy production in California and Alaska, and on the effects of Alaskan North Slope crude oil exports upon consumers, independent refiners, shipbuilding and ship repair yards on the West Coast and in Hawaii.

(Sec. 203) Authorizes the Secretary of Transportation to make grants to the Multnomah County Tax Supervising and Conservation Commission of Multnomah County, Oregon, subject to certain required findings regarding the need to levy port district ad valorem taxes. Authorizes appropriations.

Title III: Outer Continental Shelf Deep Water Royalty Relief - Outer Continental Shelf Deep Water Royalty Relief Act - Amends the Outer Continental Shelf Lands Act to authorize the Secretary of the Interior to reduce or eliminate any royalty or net profit share set forth in existing leases for oil or gas resources in certain areas of deep water on the Outer Continental Shelf in the Gulf of Mexico.

(Sec. 302) Declares that, with specified exceptions, no royalty payments shall be due on new production from any lease or unit located in specified water depths in the Western and Central Planning Areas of the Gulf until certain volumes of oil equivalent are produced.

(Sec. 303) Provides for new leases and lease sales on the basis of a cash bonus bid meeting certain criteria.

(Sec. 304) Suspends royalties for a five-year period for new leases in specified water depths in the Gulf. Subjects sales of such leases to such cash bonus bidding system.

Title IV: Miscellaneous - Instructs the Commandant of the Coast Guard to submit a plan to the Congress on the most cost-effective means of implementing an international private sector tug-of-opportunity system using existing towing vessels to provide timely emergency response to a vessel in distress transiting the waters within the boundaries of the Olympic Coast National Marine Sanctuary or the Strait of Juan de Fuca.