Sec. 5. Valuation of NorthMet Land Exchange
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/bill/116/hr/527/ih/section-5A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Congress makes the following new findings: Appraisals of the Federal and non-Federal lands to be exchanged in the NorthMet Land Exchange were formally prepared in accordance with the Uniform Appraisal Standards for Federal Land Acquisitions, and were approved by the Secretary in conjunction with preparation of the November 2015 Draft Record of Decision on the NorthMet Land Exchange. The appraisals referred to in paragraph
(1)determined that the value of the non-Federal lands exceeded the value of the Federal land parcel by approximately $425,000. Based on the appraisals referred to in paragraph (1), the United States would ordinarily be required to make a $425,000 cash equalization payment to PolyMet to equalize exchange values under the Federal Land Policy and Management Act of 1976 ( 43 U.S.C. 1701 et seq.), unless such an equalization payment is waived by PolyMet. The appraised values of the Federal and non-Federal land determined and approved by the Secretary in November 2015, and referenced in subsection (a)— shall be the values utilized to consummate the NorthMet Land Exchange; and shall not be subject to reappraisal. Notwithstanding section 206(b) of the Federal Land Policy and Management Act ( 43 U.S.C. 1716(b) ), and as part of its offer to exchange the non-Federal lands as provided in section 4(a)(1) of this Act, PolyMet shall waive any payment to it of any monies owed by the United States to equalize land values. A waiver of the equalization payment under paragraph
(1)shall be considered as a voluntary donation to the United States by PolyMet for all purposes of law.
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