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Code · BILL · 116th Congress · S. 243 (Introduced in Senate) — To authorize, direct, expedite, and facilitate a land exchange in Bullhead City, Arizona, and for other purposes. · Sec. 4

Sec. 4. Equal value exchange and appraisals

289 words·~1 min read·/bill/116/s/243/is/section-4

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

The values of the lands to be exchanged under this Act shall be determined by the Secretary through appraisals performed— in accordance with— the Uniform Appraisal Standards for Federal Land Acquisitions; the Uniform Standards of Professional Appraisal Practice; and appraisal instructions issued by the Secretary; and by an appraiser mutually agreed to by the Secretary and the City. The values of the Federal and non-Federal land parcels exchanged shall be equal, or if they are not equal, shall be equalized as follows:
If the final appraised value of the Federal land exceeds the final appraised value of the non-Federal land, the City shall reduce the amount of land it is requesting from the Federal Government in order to create an equal value in accordance with section 206(b) of the Federal Land Policy and Management Act of 1976 ( 43 U.S.C. 1716(b) ). Land that is not exchanged because of equalization under this paragraph shall remain subject to lease under the Act of June 14, 1926 (commonly known as the Recreation and Public Purposes Act ) (44 Stat. 741, chapter 578; 43 U.S.C. 869 et seq.).
Any cash equalization moneys received by the Secretary under paragraph
(1)shall be— deposited in the Federal Land Disposal Account established by section 206(a) of the Federal Land Transaction Facilitation Act ( 43 U.S.C. 2305(a) ); and used in accordance with that Act ( 43 U.S.C. 2301 et seq.). If the final appraised value of the non-Federal land exceeds the final appraised value of the Federal land, the United States shall not make a cash equalization payment to the City, and surplus value of the non-Federal land shall be considered a donation by the City to the United States for all purposes of law.
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Sec. 4
Equal value exchange and appraisals
U.S.C.§ 1716
Stat.Chapter 577
U.S.C.§ 869
U.S.C.§ 2305
U.S.C.§ 2301
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