Sec. 7. Recreation and Public Purposes Act
205 words·~1 min read·
/bill/114/hr/5836/ih/section-7·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Upon request by a grantee of lands within a local county that are subject to a lease or patent issued under the Recreation and Public Purposes Act, the Secretary concerned may transfer the reversionary interest in such lands to other non-Federal lands. The transfer of the reversionary interest under this section shall only be made to lands of equal value, except that with respect to States or a unit of local government an amount equal to the excess (if any) of the fair market value of lands received by the unit of local government over the fair market value of lands transferred by the unit of local government shall be paid to the Secretary concerned and shall be treated under subsection (d)(1) of section 4 as proceeds from the sale of land.
For purposes of this subsection, the fair market value of lands to be transferred by States or a unit of local government may be based upon a statement of value prepared by a qualified appraiser. Other non-Federal lands selected under this subsection by a grantee described in subsection
(a)shall be subject to the activities defined as permissible under parts 2920 and 2930 of title 43, Code of Federal Regulations, shall be permissible.