Sec. 404. Require disclosure to prospective buyers that property is in the Coastal Barrier Resources System
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/bill/117/hr/3764/rh/section-404·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 5 of the Coastal Barrier Resources Act ( 16 U.S.C. 3504 ) is amended by adding at the end the following: No person shall sell any interest in real property located in the System unless the person has disclosed to the buyer that the property is in the System and subject to the limitations under this section. As soon as practicable, the Administrator shall provide written notice to any person with an interest in real property located within the System— that such property is located with the System and that sale of any such interest in any such property is subject to the requirements of this subsection; and of any boundary modification affecting such person’s interest prior to, any boundary modifications taking affect, regardless of whether— any such modification is made by Congress or any other administering agency; is technical in nature; or the modification is an addition or reduction of lands and waters.
There is authorized to be appropriated such sums as may be necessary to carry out this paragraph. Not later than 60 days after the date of sale of any interest in real property located in the System, the seller shall notify the Secretary using the online system required by paragraph
(4)of such sale and shall certify to the Secretary that such seller complied with the requirements of paragraph (1). Not later than one year after the date of the enactment of the Ocean-Based Climate Solutions Act of 2022 , the Secretary shall establish and maintain an online reporting system to facilitate notifications to the Secretary required by paragraph (3). Any person who violates this subsection shall be subject to a civil penalty of not more than $10,000. .
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Sec. 404
Require disclosure to prospective buyers that property is in the Coastal Barrier Resources System
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