To provide for the exchange of certain lands in the Coconino and Tonto National Forests in Arizona, and for other purposes.

Directs the Secretary of Agriculture to convey to certain private land owners specified lands in the Tonto National Forest in exchange for the conveyance by such land owners of certain lands adjacent to the Montezuma Castle National Monument and certain lands within the Coconino National Forest. Requires that the values of Federal and non-Federal lands be equalized.Directs the Secretary of Agriculture to convey to certain private land owners specified lands northeast of Payson, Arizona in exchange for the conveyance by such land owners of certain lands within the Tonto National Forest. Requires that the values of Federal and non-Federal lands be equalized.Directs the Secretary, prior to any conveyance under this Act, to conduct the necessary land surveys and preexchange clearances, reviews, and approvals relating to threatened and endangered species, cultural and historic resources, wetlands and floodplains, and hazardous materials. Requires the Secretary to delete from either exchange any portion of Federal lands that cannot be transferred for any reason thereof.Provides that the land acquired by the Secretary become part of the Tonto or Coconino National Forest, as appropriate. Transfers the land adjacent to the Montezuma Castle National Monument to the jurisdiction of the National Park Service and incorporates it in the Montezuma Castle National Monument.