Advancing Conservation and Education Act This bill allows the states of Alaska, Arizona, California, Colorado, Idaho, Montana, New Mexico, North Dakota, Oregon, South Dakota, Utah, Washington, or Wyoming (western states) to relinquish state land grant parcels wholly or primarily within eligible areas and select, in exchange, public land within the state. The bill defines "eligible areas" as lands within the outer boundaries of units or components of the National Park, National Wilderness Preservation, National Wildlife Refuge, or National Landscape Conservation Systems, areas identified by the Bureau of Land Management (BLM) of the Department of the Interior as having wilderness characteristics, certain designated lands within the National Forest System or administered by the BLM, and sentinel landscapes designated by the Department of Agriculture, Department of Defense, or Interior. Interior shall create a process for the relinquishment of such parcels. A western state may select, and Interior may convey, lands that are mineral in character. The overall value of the state land grant parcels and the public land to be conveyed shall be equal. The bill sets forth requirements regarding hazardous materials on land conveyed, water rights, grazing permits, and road rights-of ways and other valid existing rights.