Utah Recreational Lands Exchange Act - Directs the State of Utah to convey to the United States specified Utah State school trust lands located in the Colorado River Corridor of Grand County, in the vicinity of Dinosaur National Monument in Uintah County, and in the Book Cliffs area of Uintah County, Utah. Requires the Secretary of the Interior simultaneously to convey to Utah specified public land located in those counties.
Requires the value of the exchanged lands to be approximately equal or to be equalized, following appraisal and a specified dispute resolution process, by adding or subtracting lands.