The bill to allow an exchange of land for the parcels in Grand Teton National Park to the federal government passed on second reading in the state Senate yesterday with one amendment. Senate Majority Floor Leader Phil Nicholas explained the intent of the amendment was to assure the state got full value for the land. He says, “If we are going to go and exchange for minerals, we want proven reserves, we want reserves that are under production. We don’t want to be buying back the 50% of the royalty that we would already own through our federal mineral royalties right now.” Nicholas went on that if it is to take time to produce the minerals; there should be a discount factor so that the state is really getting 100% of the cash value in the immediate or near future. That amendment passed unanimously but Teton County Senator Leland Christensen says the amendment may not be in the best interest of the agreement. The land exchange bill will face a third and final reading later this week.