1. Short title This Act may be cited as the San Juan County Settlement Implementation Act . 2. Exchange of coal preference right lease applications (a) Definitions In this section: (1) Bidding right The term bidding right means an appropriate legal instrument or other written documentation, including an entry in an account managed by the Secretary, issued or created under subpart 3435 of title 43, Code of Federal Regulations, that may be used— (A) in lieu of a monetary payment for 50 percent of a bonus bid for a coal lease sale under the Mineral Leasing Act ( 30 U.S.C. 181 et seq.); or (B) as a monetary credit against 50 percent of any rental or royalty payments due under any Federal coal lease. (2) Secretary The term Secretary means the Secretary of the Interior. (b) Use of bidding right (1) In general If the Secretary retires a coal preference right lease application under the Mineral Leasing Act ( 30 U.S.C. 181 et seq.) by issuing a bidding right in exchange for the relinquishment of the coal preference right lease application, the bidding right subsequently may be used in lieu of 50 percent of the amount owed for any monetary payment of— (A) a bonus in a coal lease sale